Page 10 - Job Cuts

Nelson Peltz, citing changes at Disney, ends push for seat on board

Activist investor Nelson Peltz has called off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts. Peltz phoned into CNBC on Thursday to say that his firm, Trian Fund Management, got everything it wanted with the changes imposed by Iger. We will be watching, we will be rooting, and the proxy fight is over," Peltz said. Peltz last month announced that he would seek a seat on the board of the entertainment company, citing a failed succession after Iger departed about two years ago and named Bob Chapek as his replacement. Peltz cited over-the-top compensation for executives and other issues. Disney on Wednesday said that it would cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and strategic reorganization." The job cuts amount to about 3 per cent of the entertainment giant's global workforce and were unveiled after Disney reported quarterly results that toppe

Zoom to lay off around 1,300 employees, CEO Eric Yuan taking 98% pay cut

Zoom on Tuesday announced that it will lay off about 1,300 employees, or approximately 15 per cent of its staff, becoming the latest tech company to announce significant job cuts

Boeing plans to cut about 2,000 finance and HR jobs in 2023: Report

The Seattle Times reported Boeing, which has been one of largest private employers in Washington state, plans to outsource about a third of eliminated positions to TCS in Bengaluru, India

Aviation giant Boeing to slash 2,000 jobs in finance, HR this year

Aviation giant Boeing is slashing 2,000 jobs in finance and HR verticals this year and the company outsources about a third of those jobs to Tata Consulting Services (TCS) in Bengaluru

Battered by plunging PC sales, Dell to cut nearly 6,650 jobs globally

The company is experiencing market conditions that "continue to erode with an uncertain future," Co-Chief Operating Officer Jeff Clarke wrote in a memo

Life after layoffs: Disbelief, confusion and a fight for survival

As they cope with grief and a feeling of loss, many of those let go by firms are turning to therapy

FedEx to slash over 10% of management jobs globally, says report

The latest cuts bring FedEx's total employee reductions to 12,000 since June, a spokeswoman said

Edtech major Byju's lays off over 1,000 employees from engineering teams

The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date

US layoffs hit two-year high in Jan as tech firms cut thousands of jobs

Retailers, second after tech, cut 13,000 positions in January, compared with virtually no layoffs a year earlier

Job growth in Indian IT sector declines 25% over corrections in hiring

The hiring intent declined across both large IT giants and unicorns, while trends across other IT startups remained stable as compared to last year, according to a report by naukri.com

Amazon job cuts hit staffers in grocery, robotics, payments, AWS divisions

Amazon announced job cuts of around 18,000 employees last month, and those who lost their jobs were from various divisions of the company, including AWS, healthcare and delivery business, among others

Ohio-based Goodyear to cut 500 jobs amid weak demand, rising inflation

The company said it's grappling with inflation in areas such as wages and benefits, countering the benefit from a decline in raw material costs

IBM, SAP SE to cut thousands of jobs globally amid tech layoffs

Dow, EY also announce cuts

SAP plans to sell its stake in Qualtrics, cut 3,000 jobs to boost profit

SAP Chief Executive Officer Christian Klein said in a call with reporters that the job cuts were a strategic move and "not related to our business momentum

3M to cut 2,500 jobs as CEO Roman vows to reexamine 'everything we do'

The maker of Post-it notes, surgical supplies and touch-screen displays said Tuesday that it sees adjusted earnings for 2023

3M plans to cut 2,500 jobs globally as outlook signals more turbulence

3M shares dropped as much as 4.7% before the start of regular trading in New York

Healthtech unicorn Innovaccer sacks 245 workers, second job cut in 5 months

Innovaccer had said that its business fundamentals are still strong

Cut 20% jobs at Alphabet, key investor Christopher Hohn tells Sundar Pichai

Google's parent company Alphabet has eliminated 12,000 jobs or 6 per cent of its workforce

Google CEO Sundar Pichai tells staff job cuts avoided 'much worse' issues

Google has said it would eliminate about 12,000 jobs, becoming the latest tech giant to retrench after years of abundant growth and hiring

Spotify lays off 600 employees globally, CEO takes full responsibility

The company had just over 9,800 full time employees as of its last earnings report