Page 14 - Layoff

Uber to lay off 200 employees in recruitment division to streamline costs

The ride-hailing company laid off 200 employees in its recruitment division as another measure to streamline costs. The layoff represents 1 per cent of its global workforce.

Uber Technologies to lay off 200 employees in its recruitment division

This layoff will affect less than one per cent of Uber's global workforce of more than 37,000

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"

Olx Group lays off 800 employees worldwide, shuts down some markets

Prosus's online marketplace and classifieds business arm, Olx Group has laid off approximately 800 employees worldwide and shut down its automotive division in some markets

JPMorgan Chase cuts nearly 20 Asia dealmaking jobs in new layoff round

The moves add to a February round of cuts that affected about 30 investment bankers in Asia, and followed similar moves by Goldman Sachs Group Inc. and Citigroup Inc. last week

Homegrown TikTok Alternative Chingari announces 20% cuts in workforce

20 per cent of employees at Chingari short video app will be affected by new layoffs. The move is expected to start an "organisational rebuilding for improved effectiveness"

Short video app Chingari lays off 20% of workforce amid restructuring

Homegrown short-video making platform Chingari has laid off 20 per cent of its workforce as part of organisational restructuring

Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

Business Standard brings you the top headlines at this hour

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

Sumo Logic lays off 79 employees, month after Francisco Partners' takeover

Big data analytics software company Sumo Logic has laid off 79 employees, as job cuts continue in the tech industry worldwide

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"

Edtech firm Chegg to cut 4% of staff amid AI threat to business model

Chegg has revealed its plans to cut about 4% of its workforce, weeks after its CEO admitted that ChatGPT was crushing its business as students are turning to artificial intelligence for homework

US-based food ordering firm Grubhub to lay off 15% of its workforce

US-based online food ordering company Grubhub has announced to lay off about 15 per cent of its workforce, or nearly 400 employees, to maintain "competitiveness" in the market.

Hiring appetite positive for Jul-Sep quarter amidst layoffs: Survey

The Indian labour market is indicating positive sentiments for the July-September quarter of this year and businesses in the IT industry continue to report the brightest hiring outlook, a survey said on Tuesday. According to the ManpowerGroup Employment Outlook Survey of nearly 3,020 employers, the labour market is indicating positive sentiments in the third quarter of 2023 despite news of layoffs and anticipated global economic slowdown. As many as 49 per cent of employers report higher intentions for hiring, while 13 per cent do not expect to hire, leading to a seasonally adjusted net employment outlook of 36 per cent. When compared to the same period last year, hiring sentiments have declined by 15 per cent, while there is a 6 percentage points growth when compared to the last quarter. Globally, employers in all 41 countries anticipate a net positive hiring outlook, with Costa Rica topping the chart with a net employment outlook of 43 per cent, followed by the Netherlands (39 pe

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

Corporate layoffs major threat to Chinese economy amid unemployment crisis

In an alarming trend, big Chinese corporations have been laying off large numbers of employees since the beginning of the year

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.

Spotify to lay off 200 workers in podcast division, about 2% of streamers

The company has resorted to aggressive expansion to supplement its earnings from music streaming with other revenue-generating formats such as podcasts