Page 7 - Job Cuts

Amazon cuts jobs in its Fresh Grocery stores as it aims to rein in costs

Amazon is cutting jobs in its Fresh Grocery stores as part of a restructuring plan in the US. The company confirmed Thursday that its eliminating zone lead roles, a lower-level management position in its grocery stores that, among other things, oversees associates and deals with customer issues. Amazon did not disclose how many employees would lose their jobs as a result. The Washington Post had reported late Wednesday that hundreds of Fresh employees would be let go. Like any retailer, we periodically assess our stores' organizational needs and make decisions to increase efficiencies for our employees and deliver customer value, Amazon spokesperson Jessica Martin said in a prepared statement. As a result, we've decided to evolve our in-store staffing and operations model to better serve our customers and teams. The retailer said it will work with affected employees to help them find new roles within the company and employees who leave Amazon will be given severance. Amazon operat

Anheuser-Busch lays off hundreds of US corporate workers after sales slump

Anheuser-Busch, the maker of Bud Light, confirmed this week is laying off hundreds of positions across its US corporate staff. In a statement to The Associated Press, the beer maker said the layoffs will impact less than 2 per cent of its workforce. Anheuser-Busch's website says the company employs 19,000 employees nationwide. Warehouse staff, drivers and other frontline employees will not be affected, the company said. The job cuts arrive during a rocky time for Anheuser-Busch, which has seen a months-long sales decline for Bud Light since April when conservative critics vowed to boycott the brand after the brewer sent a commemorative can to transgender influencer Dylan Mulvaney. Bud Light has also faced backlash from Mulvaney's supporters and LGBTQ+ rights groups, who say the brand didn't do enough to support her. Mulvaney later shared that she felt abandoned by Bud Light, and faced more bullying and transphobia than I could have ever imagined" over the partnership. Bud Light is

Saarthi.ai fires employees in batches, withholds salaries; cites 'pressure'

Bengaluru-based AI tech support startup Saarthi.ai has fired some employees buckling under "investor pressure" to become profitable, and has allegedly withheld salaries of several employees since March 2023. While an employee took to a social media platform to claim that withholding of salaries has affected a substantial chunk of staff, the numbers could not be independently verified. Responding to queries, Founder and CEO Vishwa Nath Jha said the company has "let go" of employees in batches owing to "investor pressure" to become profitable, but declined to divulge the number of employees affected by the move. "Our team has been restructured in light of technological advancement and many team members were let go in batches as a result. We had to automate low level professional cognitive skills of our staff due to investor pressure to become profitable," he told PTI. Addressing concerns of withholding salaries, he said that the full and final settlement for early batches of the ...

At halfway mark, more technology sector layoffs in 2023 than in 2022

Bengaluru is worst-affected among cities, even as it continues to top start-up fundraising

National Geographic lays off last writers, will not be sold in US anymore

National Geographic layoffs: Job cuts by Disney, the publication's parent company, were the second over the past nine months

Goldman starts cutting number of MDs across the globe amid deals slump

The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year

Grab slashes 1,000 jobs in biggest round of job cuts since pandemic

Grab CEO Anthony Tan said that the layoffs were not a "shortcut to profitability"

Inside the mind of a firing manager: Guilt, shame and many questions

Therapists says those who had to fire someone narrated experiencing a sense of helplessness; some even had anxiety and trouble sleeping

Britain witnesses recession and flood of job losses if rates hit 6%

The UK has so far weathered the cost of living crisis without falling into recession

Oracle lays off hundreds of employees at its health unit Cerner: Report

In May, another media report said that Oracle had laid off 3,000 employees at Cerner

Automotive digital marketplace TrueCar lays off 24% of its workforce

"The restructuring announced today better aligns our cost structure with our revenue base and is designed to make TrueCar a nimbler, more efficient company"

Data management provider Cohesity lays off employees, CMO moves on

The company had 2,289 employees (as of April 2023). Lucas, who became Cohesity CMO in 2018, has also left the company

Standard Chartered to trim more than 100 roles as part of cost cuts

"It is part of normal business activity to review our role requirements on an ongoing basis across the bank, to ensure that we remain effective in delivering our business strategy"

Reddit to hand pink slips to 5% of its workforce, reduce fresh hiring

The move aims to help the social media company Reddit to break even next year

IT cos need to rightsize bench to boost efficiency, stop layoffs: Experts

While other industries have single-digit bench sizes, tech firms typically have a larger bench size of as much as 30%, they say

Spotify cutting about 2% of its workforce, affecting roughly 200 employees

Spotify is cutting about 200 people, or 2 per cent of its workforce, as the streaming company reworks its podcast unit. Sahar Elhabashi, vice president, Head of Podcast Business, said in a memo that impacted employees would receive severance packages including extended health care coverage and immediate access to outplacement support. In January Spotify announced that it was cutting 6 per cent of its global workforce, or about 600 jobs. Elhabashi also said Monday that the Stockholm company would be combining podcast networks Parcast and Gimlet into its Spotify Studios operation. With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetisation and audience growth for creators, and a valuable, high-margin business for Spotify, Elhabashi said. In afternoon trading, shares rose nearly 3 per cent and briefly set a 52-week trading high.

Europe's fintech unicorn Taxfix lays off 120 employees to cut costs

"The macroeconomic funding environment has changed over the past months, and it is, therefore, more important than ever to position ourselves as an independent company for the long term"

Amazon workers upset over job cuts, return-to-office mandate stage walkout

A group of Amazon workers upset about recent layoffs, a return-to-office mandate and the company's environmental impact is planning a walkout at the company's Seattle headquarters Wednesday. The lunchtime protest comes a week after Amazon's annual shareholder meeting and a month after a policy took effect requiring workers to return to the office three days per week. We respect our employees' rights to express their opinions, the company said in a statement. As of Tuesday night, more than 1,800 employees had pledged to walk out around the world, with about 870 in Seattle, according to Amazon Employees for Climate Justice, a climate change advocacy group founded by Amazon workers. While some plan to gather at the Amazon Spheres a four-story structure in downtown Seattle that from the outside looks like three connected glass orbs others will participate remotely. Brad Glasser, an Amazon spokesperson, said there has been a good energy on the company's South Lake Union campus and at

Big Tech firms can sack more employees to boost productivity: Elon Musk

He said that Twitter was in a situation where you'd have a meeting of 10 people and "one person with an accelerator and nine with a set of brakes"

Alibaba to make significant job cuts, around 7% of workers, amid IPO plans

The company is offering severance packages to the impacted employees and also plans to transfer some workers to other parts of its business verticals