Tag: Layoff
Nike’s $400 mn in severance to save $2 bn in costs
While Nike is gearing to lay off hundreds from its workforce to cut costs of up to $2 billion, it will be spending about...
1000 jobs fall prey to AI at Paytm
Looks like artificial intelligence performed even better than expected, so much so that it has rendered at least a thousand jobs at Paytm redundant....
Intel to let go 235 employees
The US chip-making firm, Intel, is planning to let go 235 employees in the fifth round of layoffs this year.
The job-cutting exercise may spill...
Etsy to let go 11% of workforce
The holiday season rush is at its peak, and this is certainly not the right time for job cuts. However, Etsy, the American e-commerce...
American toy firm to lay off about 1,100 amid falling demand
Hasbro, the US toy company known for the popular game, Monopoly, the fantasy game, Dungeons & Dragons, the Transformers action figures, and even Play-Doh,...
Simplilearn lets go 200 staff members for poor performance
Simplilearn, the edtech startup based in Bengaluru, has let go 200 team members, based on their performance. Most of those impacted belong to the...
Nio plans more job cuts for more efficiency, cost saving
Nio Inc., a Chinese electric vehicle (EV) manufacturer, is considering additional job cuts following its recent announcement of a 10 per cent workforce reduction...
Is Volkswagen axing jobs because of low productivity, high costs?
High costs and low productivity have reportedly made the brand Volkswagen financially incompetitive. Meanwhile, the parent company, VW Group —which owns Audi, Porsche and...
Now Amazon’s Alexa team to see job cuts
It hasn’t been long since Amazon reduced headcount in its music and gaming units. Now, there is to be job cuts in Amazon’s Alexa...
500 jobs to be axed at Pfizer, UK
It hasn’t been long since Pfizer slashed a 100 jobs at one of its manufacturing plants in Ireland. Now, the pharmaceutical major is looking...
Virgin Galactic Holdings to reduce workforce by 18%
Virgin Galactic Holdings plans to reduce its workforce by 18 per cent. In the latest quarter, the commercial spaceflight operator posted $1.7 million in...
Now Amazon’s music division witnesses layoffs
Amazon.com is axing jobs in its music division now. That means, its audio streaming platform and digital store for songs will let go some...
GM decides to reverse the layoff of 1,245 employees
The Sindmetal metalworkers’ union released a statement stating that General Motors (GM) has decided to reverse the decision to lay off 1,245 employees at...
Despite strong Q3 results, Informatica to lay off 500+
That artificial intelligence will eat up jobs is more or less clear. The AI startup, Informatica, based out of the Bay Area, has let...
Amid financial distress Accenture plans to lay off
Accenture’s Detroit office is getting ready for a fresh round of layoffs. The layoffs are expected to begin on 4 December 2023, and will...
Barclays cuts 3% roles in consumer banking division
As part of global cost-cutting efforts, Barclays has revealed plans to cut certain roles in its US consumer-banking division. The move will impact 3...
Virgio lets go of 33% of workforce
Virgio, a fashion company founded by Amar Nagaram, former CEO, Myntra, recently underwent a restructuring exercise, which led to 20 employees, constituting 33 per...
Scotiabank to cut 3% of workforce amid economic challenges
Canada's Scotiabank is planning to reduce its global workforce by approximately 2,700 employees, which amounts to about three per cent of its total workforce....
Google lets go about 40 from news division
At least 40 people have been let go from Google’s news division reports CNBC. Although an official confirmation and exact numbers are yet to...
6% of KPMG’s UK advisory team to be laid off
About six per cent of KPMG’s deal advisory business in the UK will be losing their jobs. The accounting firm had already announced reduction...
Rolls-Royce plans to cut over 2,000 jobs
Rolls-Royce has confirmed the elimination of approximately 2,500 jobs as part of its efforts to control costs. Over the past decade, the company has...
LinkedIn to axe about 700 more jobs
Almost 700 people may be rendered jobless at LinkedIn as the job-focused social-media platform tries to reorganise and become more agile.
This is the second...
Qualcomm to restructure, axe at least 1,200 jobs in California
It was only in the third week of September that Qualcomm had revealed its intention to reduce headcount at its Shanghai office. Now, the...
The Washington Post to reduce headcount by 240 amidst dwindling subscriptions
Amidst dwindling subscriptions and advertisements, The Washington Post is looking to axe 240 jobs. It plans to bring these job cuts into effect by...
Kuwait accelerates ‘Kuwaitisation’ by ending 800 expatriate contracts
Kuwait’s Ministry of Interior (MoI) has recently taken a significant step in its efforts to reshape its labour force composition by terminating the employment...
While GM let go about 164 workers, Ford let go 330
General Motors is planning to let go 164 workers at its stamping plants in India, Ohio and Parma. However, as long as the assembly...