Autodesk, a California-based technology company, has announced that it will be cutting 250 jobs, which constitutes a small fraction of its global workforce of 12,600 employees as of January 2022.
This move is part of the company’s strategy to realign its resources and focus on its key priorities for the current fiscal year. However, Autodesk is still actively hiring for many key positions across the company, and the job cuts are not a result of cost-cutting or over-hiring.
Autodesk’s shares have been performing well in the stock market, with a 22 percent increase since the start of 2023. This marks a positive recovery from the 33 per cent drop the company experienced in the previous year.
Despite this, the technology sector as a whole has been facing challenges, and many companies have been forced to reduce their headcount, including Okta, Workday, Splunk, and Pinterest.
Getaround, a US-based car-sharing company, has announced that it will be laying off a portion of its workforce, estimated to be around 10 per cent.
These layoffs are part of a larger restructuring effort aimed at putting the company on a path towards sustainable profitability and long-term growth.
In addition to the job cuts, the restructuring plan will also involve significant reductions in operating expenses. This includes reducing the company’s contract workforce and cutting back on outside professional services. The restructuring is aimed at streamlining the company’s operations and ensuring that it is well-positioned for future success.
Sam Zaid, CEO, Getaround, said, “In response to an uncertain near-term macroeconomic outlook, which has hit technology companies particularly hard, Getaround has made the decision to streamline its operations.”