Tag: Cost Cutting
1,000 to be laid off at Fidelity International
Fidelity International, the asset-management firm, is gearing to reduce its global workforce by nine per cent, as was first reported by Reuters. That means,...
SpiceJet to axe 1400 roles in bid to stay afloat
Indian budget carrier SpiceJet is facing turbulence, announcing plans to lay off 1,400 employees – 15 per cent of its workforce – in a...
YouTube axes 100 jobs; more cuts to happen at Google
Google is endeavouring to cut costs and focus on using artificial intelligence (AI). As part of this exercise, YouTube, its video platform has laid...
Humane cuts 4% roles
As a part of broader cost-cutting strategy, Humane has laid off four per cent of its employees, according to sources familiar with the matter....
Byju’s to restructure and let go 4,000
Edtech firm, Byju’s is set to cut down its existing 35,000-strong workforce by 11 per cent. That means, about 4,000 employees will be rendered...
42 jobs cut at Khatabook, the fintech startup
As part of a restructuring exercise of its 700-strong workforce, fintech startup, Khatabook has cut about 42 jobs. These cuts are in keeping with...
Accenture to lay off 13% of workforce in Ireland
Accenture, the Irish-American professional services firm, is preparing to axe about 890 jobs in its Irish operations. That means, about 13 per cent of...
Amazon to reduce workforce at Fresh grocery outlets
Headcount is being reduced at Amazon’s 40+ Fresh grocery stores across the US. The retailer is doing away with the ‘zone lead’ role, that...
Amid falling profits, Binance reduces employee benefits
Due to decline in profits, cryptocurrency giant Binance made cost-cutting moves by reducing employee benefits last month. The changes, effective from June 19, included...
Has Byju’s laid off 500- 1000 employees?
Byju’s, the edtech platform, has been trying to streamline operations, cut costs and improve profitability for some time now. As part of its attempts,...
Is Goldman Sachs preparing to cut jobs?
That the market slowdown has affected investment banks is quite clear. Now the Goldman Sachs Group is reportedly preparing to axe about 200+ jobs...
SoftBank’s Indian investee companies have adopted a ‘total defence’ approach
In the past 15 months, SoftBank's investee companies in India have adopted a ‘total defence’ approach to combat the funding slowdown. These startups have...
In fresh round of job cuts, Meesho lays off 251 employees
On May 5, 2023, Meesho, an e-commerce startup, made the announcement that it had laid off 251 employees in a fresh round of job...
Cognizant to cut costs; lay off 3,500
In an attempt to cut costs and increase margins, Cognizant, the IT services company is planning to lay off 3,500 employees and also let...
Lazard to cut 10% workforce worldwide
As part of its cost-cutting efforts, Lazard intends to reduce its global workforce by 10 percent. The reduction is said to impact all of...
Lyft and Clubhouse to layoff employees
Lyft, a ride-hailing company and a competitor of Uber, is planning to lay off 1,072 employees, equivalent to 26% of its workforce, as part...
Perks proving to be expensive for Google?
As part of its cost-cutting measures, Google has now decided to cut down or completely do away with some perks. The Company has realised...
How Apple cuts costs without laying off employees
The IT sector continues to witness layoffs as many leading players, including Meta, Credit Suisse, and Disney, cut jobs to reduce costs. In the...
Facebook is planning to cut more workforce next week
Meta, the parent company of Facebook, is planning to cut thousands of jobs in order to meet their financial targets, according to Bloomberg. The...
Meta to slash more jobs and projects to mitigate costs
Meta is reportedly seeking help from lawyers, financial consultants and human resources personnel to prepare plans to shrink the hierarchy within the firm.
The parent...
1,300 employees ‘zoomed out’ at Zoom
About 15 per cent of the workforce at communications technology firm, Zoom, will be asked to leave, as per an official blog.
The video communications...
Is McDonald’s readying for job cuts in 4 months?
As part of its endeavour to update its business strategy and launch more restaurants, McDonald’s will review its corporate headcount and let go some...
Will Amazon lay off 17,000?
It is true that Amazon had plans to reduce the size of its workforce. However, the number of job cuts may be more than...
Is Salesforce going to lay off more employees?
After laying off hundreds of its employees in November 2022, Salesforce seems to be preparing for yet another round of job cuts.
The enterprise software...
Has FIS asked 400 Pune employees to leave?
Fidelity National Information Services (FIS), Pune, the Indian arm of the American multinational fintech firm, is on a layoff spree, to deal with redundancy....
Elon Musk slashes several employee benefits at Twitter
After the massive layoffs, the majority of the benefits that Twitter used to give its employees have apparently been reduced by Elon Musk.
These benefits...