Tag: downsize
Wayfair to sack 5% of its workforce
Wayfair has announced plans to lay off 1,000 employees in an effort to cut operational cost. The decision comes after the online furniture retailer...
Icertis lays off members of sales & marketing team
In October 2022, Icertis, the Software-as-a-Service (SaaS) company raised $150 million in funding from Silicon Valley Bank. The fund comprised a revolving credit arrangement...
Cisco is all set to cut 4,000 jobs, 5% of workforce
About five per cent of the workforce at Cisco may have to leave as the Company is looking at ‘rebalancing’ and ‘rightsizing’ some of...
Unacademy lets go 350 jobs amidst funding winter
There has been a second round of layoffs at Unacademy, affecting 10 per cent of its 3,500-strong workforce this time. About 350 employees have...
“Not laying of 75% of workforce”: Elon Musk tells Twitter staff
Looks like Elon Musk will not lay off 75 per cent of the Twitter workforce after all. Musk apparently communicated the same to Twitter...
Seagate to lay off 3,000 as part of restructuring
With revenues dipping 35 per cent in quarter one of financial year 2023 and demand for falling too, Seagate Technology has decided to undergo...
Philips to let go 4,000 employees
Philips is planning to cut five per cent of its workforce, globally. That means, about 4,000 employees will be asked to leave. The tech...
Google cancels 50% projects in Area 120 to cut costs
In an endeavour to ensure operational efficiency, Google has been trying to cut costs. In doing so, the tech major has decided to cancel...
HCL Tech lets go 300+ employees, globally
HCL Tech has laid off over 300 employees as part of its budget-cutting exercise. No official or public announcement has been made about these...
Alibaba lays off 10,000 as part of cost-cutting measures
To reduce costs, Alibaba, the Chinese tech major, has let go almost 10,000 employees. This is the Company’s response to poor sales and the...
Amazon has laid off 1 lakh
With Amazon realising it has more employees than it requires — having hired more during the demand surge due to the pandemic, and to...
Unacademy lays off 6,000 as part of cost cutting
Unacademy, the Indian edtech startup, has let go of about 600 employees from its almost 6,000-strong team — about 10 per cent of its...
3M to restructure, slash 2,900 jobs
3M Co. is set to lay off about 2,900 employees, about three per cent of its global workforce, as part of cost-cutting measures and...
Disney’s theme parks to render 28,000 jobless
Approximately 28,000 employees or ‘cast members’ as they are called, working at Walt Disney’s theme parks in the US will be laid off. The...
Mozilla to slash 250 jobs, focus on new products
Mozilla, which is most popular for the Firefox web browser, is all set to downsize and also restructure its workforce. Having been adversely affected...
Downsizing in manufacturing is not rightsizing, but just a temporary strategy
There have been a few unusual realisations for every organisation during these past few months. For the manufacturing sector— across apparel, paint, auto and...
British banks to cut jobs as demand for digital services grows
In an attempt to keep up with customers shifting online, and implement cost-cutting measures, Lloyds Banking Group and Virgin Money are going to downsize.
While...
Jaguar Land Rover to lay off 500 in the UK
Jaguar Land Rover (JLR), owned by Tata Motors, will be laying off about 500 employees—10 per cent of the workforce— at its factory in...
Lure of DJ to encourage employees to return to office: Meta
Meta has reportedly hired a DJ to play music in its Menlo Park campus cafe, according to an employee. This move could be seen...
Latest
10% of NPR workforce laid off as revenue declines
National Public Radio (NPR) cut 10 per cent amid the declines in the company’s revenue, reported The New York Times. Apparently, the company is...
Starbucks under fire for refusing to negotiate fairly with workers
Starbucks is again in the news, this time because the company is allegedly violating federal labour laws, as prosecutors from the National Labour Relations...
Will DA, fitment factor be revised for Central government staff?
Will the dearness allowance of Central government employees be hiked to 42 per cent from the present 38 per cent? Media reports suggest that...
8.15% interest rate on EPF deposits for 2022-23: EPFO
From 8.5 per cent in 2020-21, the Employees’ Provident Fund Organisation (EPFO) had lowered the interest rate to 8.1 per cent in 2022. Now,...
DIALOGUE
EQ, IQ & empathy define the success of a CEO
Q. You spent 16 years at LIC before moving to a corporate role at ICICI Prudential. Now, 22 years on, I am still curious...
“The big change has been that we have moved from jobs to skills,” Amaresh...
Q. How would you define the culture at GE?
A. Having been present in this region since 1902, GE has been around for 120 years....
“Being good to everyone is being unjust to performers,” Mathew Job, CEO, Crompton
Q. In today’s times, what’s more challenging for a CEO like you — profit & business growth, talent & people, diversification, compliance or managing...
