Page 12 - Layoff
Los Angeles Times fires 20% employees, largest in its 142-year-old history
Paper's owner Dr Patrick Soon-Shiong, defended the move, saying the organisation first needed to make progress towards building higher readership to make up for the heavy financial losses
 "Los Angeles Times fires 20% employees, largest in its 142-year-old history")
Citigroup lays off more bosses as CEO addresses managing directors: Report
The bank last week said it would cut 20,000 jobs over the next two years, after a fourth quarter marred by one-off charges that resulted in a $1.8 billion loss
 "Citigroup lays off more bosses as CEO addresses managing directors: Report")
Google confirms fresh round of layoffs; 1,000 employees receive pink slips
Google aims to enhance support for small & medium businesses by restructuring its ad team through job cuts, as well as using AI to enhance efficiency
China's Harvest Fund cuts Hong Kong staff in pullback from offshore biz
Harvest is one of the first Chinese asset managers to make sizable layoffs in Hong Kong in recent years
 "China's Harvest Fund cuts Hong Kong staff in pullback from offshore biz")
Google fires Fitbit co-founders, lays off hundreds of employees: Here's why
Google is laying off hundreds of employees across multiple teams, with Fitbit co-founders James Park and Eric Friedman also leaving the company. Watch the video to know why
 "Google fires Fitbit co-founders, lays off hundreds of employees: Here's why")
After Google, Amazon announces job cuts; hundreds to get pink slips
The latest job cuts by Amazon will impact the employees of Prime Video and Amazon MGM Studios. The news coincided with Google's similar announcement to layoff employees on Wednesday
 "After Google, Amazon announces job cuts; hundreds to get pink slips")
Here's how the world's most valuable learning app Byju's became a trap
The group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay salaries
 "Here's how the world's most valuable learning app Byju's became a trap")
Amazon to lay off several hundred staff in Prime Video, studios divisions
The staff facing exit at Prime Video and Amazon MGM Studios in the Americas will be informed on Wednesday and in most other regions by the end of the week
 "Amazon to lay off several hundred staff in Prime Video, studios divisions")
Amazon's Twitch to cut 500 employees, 35% of staff amid concerns on losses
The new chief has struggled to stem losses, however. Twitch undertook two rounds of layoffs last year, cutting over 400 positions, part of wider job reductions at Amazon.
 "Amazon's Twitch to cut 500 employees, 35% of staff amid concerns on losses")
Flipkart to reduce its workforce by 5-7% based on performance by April
The Indian e-commerce giant is also about to close $1 billion in financing from Walmart
 "Flipkart to reduce its workforce by 5-7% based on performance by April")
2023 sees 15% more start-up/ tech layoffs than 2022, majority in edtech
On average, at least 45 people lost their jobs daily based on data collated by the website. This is 15.3 per cent higher than the 14,224 layoffs recorded in the previous year
 "2023 sees 15% more start-up/ tech layoffs than 2022, majority in edtech")
Global corporate landscape 2023: Mergers, closures, and leadership shifts
From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023
Paytm hands over 1,000 pink slips; staff from lending business affected
The decision to dismiss these employees comes weeks after the fintech company announced it would reduce the disbursement of small-ticket-size loans as RBI tightened norms
 "Paytm hands over 1,000 pink slips; staff from lending business affected")
Paytm lays off over 1,000 employees as part of cost-cutting measures
The fintech giant's parent company, One 97 Communications, is working towards reducing its staff expenses by 10-15% over the ongoing financial year
 "Paytm lays off over 1,000 employees as part of cost-cutting measures")
Google plans restructuring 30,000-people ad sales unit as automation booms
Sean Downey, who oversees ad sales to big customers in the Americas, said at a department-wide meeting last week that Google plans to restructure its ad sales teams
 "Google plans restructuring 30,000-people ad sales unit as automation booms")
Social media unicorn ShareChat lays off 200 employees to reduce costs
This is the second such move this year for the Indian regional social network
 "Social media unicorn ShareChat lays off 200 employees to reduce costs")
ShareChat's valuation cut to $1.5 bn, lays off 200 employees: Reports
Company sacked 20% of its workforce in January, impacting around 500 employees
 "ShareChat's valuation cut to $1.5 bn, lays off 200 employees: Reports")
Udaan said to be laying off 120 employees as it seeks profitability
The development comes at a time, when Udaan recently raised $340 million in Series E financing
 "Udaan said to be laying off 120 employees as it seeks profitability")
IT hiring easier than last year; founders hopeful of resumption in funding
Even as the technology sector witnessed a decline in funding across the globe, founders are hopeful that a 'warmer funding season' is on its way in 2024
 "IT hiring easier than last year; founders hopeful of resumption in funding")
Deloitte is now looking at AI to help avoid mass layoffs in future
Deloitte LLP is using AI to evaluate existing staffers' skills and map out plans that would shift employees away from quieter parts of the business and into roles that are more in demand
 "Deloitte is now looking at AI to help avoid mass layoffs in future")