Page 14 - Layoff

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

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

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

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

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'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.

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

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

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 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

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

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

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

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

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

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

Spotify axes 17% of workforce in third round of layoffs this year

Spotify says it's axing 17 per cent of its global workforce, the music streaming service's third round of layoffs this year as it moves to slash costs while focusing on becoming profitable. In a message to employees posted on the company's blog on Monday, CEO Daniel Ek said the jobs were being cut as part of a strategic reorientation. The post didn't specify how many employees would lose their jobs, but a spokesperson confirmed that it amounts to about 1,500 people. Spotify had used cheap financing to expand the business and invested significantly in employees, content and marketing in 2020 and 2021, the blog post said. But Ek indicated that the company was caught out as central banks started hiking interest rates last year. We now find ourselves in a very different environment. And despite our efforts to reduce costs this past year, our cost structure for where we need to be is still too big, he said. Ek said the leaner structure of the company will ensure Spotify's continued ...

Small-town freshers learning new-age tech skills to crack IT sector jobs

More and more candidates are registering to learn these skills in hopes of finding better employment opportunities in an increasingly competitive job market

ByteDance to fire hundreds and shut Nuverse in major gaming retreat

TikTok's owner will fire several hundred people, unwind projects under development and weigh potential sales of existing titles, people familiar with the matter said