Page 8 - Job Cuts

Automaker Stellantis to offer buyouts amid electric vehicle transition

Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles. Stellantis on Wednesday said it's offering buyouts to groups of white-collar and unionized employees in the U.S., as well as hourly workers in Canada. The cuts are in response to today's increasingly competitive global market conditions and the necessary shift to electrification, the company said in a prepared statement. Stellantis said it's looking to reduce its hourly workforce by about 3,500, but wouldn't say how many salaried employees it's targeting. The company has about 56,000 workers in the U.S., and about 33,000 of them could get the offers. Of those, 31,000 are blue-collar workers and 2,500 salaried employees. Another 8,000 union workers in Canada also will get offers, the company said. Stellantis, formed in the merger of Fiat Chrysler and France's PSA Groupe, says in a statement that it's reviewing its North .

3M to cut 6,000 positions globally to focus on high-growth businesses

The move comes as consumers are cutting back on discretionary spending as a series of interest rate hikes over the past year to bring down stubbornly high inflation

Lyft, Deloitte announce to lay off employees amid global meltdown

According to reports, the layoffs at Uber rival may affect 30 per cent of its 4,000 employees

Lyft plans job cuts, may hit 30% of employees as it struggles over profit

The Wall Street Journal earlier reported the cuts, adding that they could help Lyft slash 50% of its costs

Meta prepares more layoffs across its platforms for 'greater efficiency'

Meta already cut about 13% of its workforce, or about 11,000 jobs, in November. It also extended a hiring freeze through the first quarter

Disney poised to eliminate thousands of jobs next week to cut annual costs

As part of that effort, the company is paring its commitment to general entertainment, focusing more on franchise properties and well-recognized brands

Ernst & Young to slash 3,000 jobs in US due to 'overcapacity': Report

Joining the 'Big Four' consulting firms, global professional services provider Ernst & Young (EY) will slash around 3,000 jobs or 5 per cent of its workforce in the US, the media reported.

McDonald Corp reduces some employees' compensation, titles amid job cuts

McDonald's closed its offices for a few days earlier this week to have career conversations with all corporate employees, including those being let go

US-based firms sack over 270,000 employees in Q1, up by nearly 400%

"The technology sector is leading all industries, and this talent is in demand across industries. In fact, 38 per cent of all cuts are in the Tech sector," the report stated

Red cross to sack 15,000 employees amid decline in humanitarian aid budget

ICRC said its governing board last week approved $475.30 million in cost reductions over 2023 and early 2024

Twitter's contract workers sue company over Elon Musk's mass layoffs

The suit was brought on behalf of an unspecified number of workers hired by Twitter through employee staffing company TEKsystems Inc

Apple to cut some jobs; Walmart to fire more than 2,000, says report

The company is shedding positions in what it calls its development and preservation teams. Those groups are responsible for the construction and upkeep of Apple retail stores

Half a million white-collar job cuts since Oct 2022: Is this just a start?

There have been more than 500,000 job cuts announced around the world since October, as tracked by Bloomberg

McDonald's temporarily shuts US offices, plans major layoffs amid meltdown

McDonald's has more than 150,000 employees in corporate roles. About 70% of those employees are based outside the United States

Streaming firm Roku lays off 200 more employees, nearly 6% of its workforce

In November 2022, the streaming company had announced it was laying off 200 US employees, or roughly 7 per cent of its workforce

Richard Branson's rocket company Virgin Orbit lays off 85% of workforce

In a US securities filing, the company announced a workforce reduction of approximately 675 employees, constituting approximately 85 per cent of the company's workforce "in order to reduce expenses"

EV startup Lucid to lay off around 1,300 employees in upcoming months

Electric vehicle (EV) startup Lucid announced that it is laying off around 1,300 of its employees or 18 per cent of its workforce, within the upcoming months

In an open letter to Pichai, Google staff asks for better handling of cuts

In an open letter addressed to Chief Executive Officer Sundar Pichai, employees made a series of demands of the company, including freezing new hires, seeking voluntary redundancies

Accenture to cut 19,000 jobs amid worsening global outlook, trims forecast

The company also trimmed its annual revenue growth and profit forecasts on Thursday, amid worries that recession-wary enterprises will cut technology budgets

Logitech lays off 300 employees as computer accessories sales drop

Swiss technology firm Logitech has laid off 300 employees amid the challenging global macro-economic environment, the media reported on Thursday.