Page 15 - Layoff

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

Nearly 4,000 people lost their jobs in US due to AI in May: Report

The Automotive sector announced 8,308 job cuts last month for a total of 18,017 this year, a 235 per cent increase from the 5,380 cuts announced in the same period last year

Marketing technology firm ZoomInfo plans to lay off 3% of workforce

US-based marketing technology company ZoomInfo has said that it plans to lay off about 3 per cent of its workforce globally, joining several other technology companies that have cut jobs recently

Job search engine ZipRecruiter lays off 20% of global workforce

Job search engine ZipRecruiter has announced to reduce its global headcount by approximately 270 employees, which represents approximately 20 per cent of the company's total number of employees

SaaS platform Zendesk lays off 8% of workforce due to macroeconomic issues

Each impacted employee will be eligible for three months of base salary/on-target earnings plus one week for each full year of service, job search resources, a prorated portion of annual bonus

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"

Woman-led edtech unicorn Guild lays off 172 employees for 'reorganisation'

he company had "identified the go-forward structure, roles, and skill sets needed to enable our strategy and create a more focused, seamless way of doing work at Guild," CEO told the staff

JP Morgan Chase lays off around 1,000 employees of First Republic Bank

JP Morgan Chase is laying off roughly 1,000 employees of First Republic Bank nearly a month after it was seized by regulators. The vast majority of First Republic employees, roughly 7,200 before it ran into trouble, were offered jobs by JPMorgan, meaning that about 15 per cent of the bank's employees were let go. First Republic cut roughly 25 per cent of its workforce before JPMorgan stepped in. Bank employees that are not being offered jobs at JPMorgan will get an additional 60 days of pay and benefits, the bank said. Additional payments to those being let go will be based on how long they worked at First Republic. First Republic Bank, based in San Francisco, became the second-largest bank failure in US history. Regulators sold all of its deposits and most of its assets to JPMorgan Chase to restore order after three banks, including Signature and Silicon Valley banks, collapsed and threatened to undermine faith in the US banking system. The banks were unique, however, due to the

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First Citizens-owned Silicon Valley Bank to lays off about 500 employees

"It is increasingly clear that we must make decisions to right-size our scope and scale to remain competitive"

Layoffs coming: US telecom carrier Verizon warns customer service employees

The layoff warning as the company lost 127,000 postpaid subscribers in the first quarter this year

Nearly 200,000 tech employees fired globally in 2023; more layoffs expected

According to recent data from layoff.fyi, a layoff tracker website, 702 companies have laid off 199,047 employees in 2023 so far worldwide

Meta begins final round of layoffs, 6,000 employees to be impacted

After a period of extensive recruitment that resulted in the doubling of its workforce since 2020, Meta's current number of employees has declined to a level, which is similar to that of mid-2021