Page 15 - Layoff

Anheuser-Busch lays off hundreds of US corporate workers after sales slump

Anheuser-Busch, the maker of Bud Light, confirmed this week is laying off hundreds of positions across its US corporate staff. In a statement to The Associated Press, the beer maker said the layoffs will impact less than 2 per cent of its workforce. Anheuser-Busch's website says the company employs 19,000 employees nationwide. Warehouse staff, drivers and other frontline employees will not be affected, the company said. The job cuts arrive during a rocky time for Anheuser-Busch, which has seen a months-long sales decline for Bud Light since April when conservative critics vowed to boycott the brand after the brewer sent a commemorative can to transgender influencer Dylan Mulvaney. Bud Light has also faced backlash from Mulvaney's supporters and LGBTQ+ rights groups, who say the brand didn't do enough to support her. Mulvaney later shared that she felt abandoned by Bud Light, and faced more bullying and transphobia than I could have ever imagined" over the partnership. Bud Light is

Saarthi.ai fires employees in batches, withholds salaries; cites 'pressure'

Bengaluru-based AI tech support startup Saarthi.ai has fired some employees buckling under "investor pressure" to become profitable, and has allegedly withheld salaries of several employees since March 2023. While an employee took to a social media platform to claim that withholding of salaries has affected a substantial chunk of staff, the numbers could not be independently verified. Responding to queries, Founder and CEO Vishwa Nath Jha said the company has "let go" of employees in batches owing to "investor pressure" to become profitable, but declined to divulge the number of employees affected by the move. "Our team has been restructured in light of technological advancement and many team members were let go in batches as a result. We had to automate low level professional cognitive skills of our staff due to investor pressure to become profitable," he told PTI. Addressing concerns of withholding salaries, he said that the full and final settlement for early batches of the ...

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Sachin Bansal's fintech firm Navi lays off nearly 200 employees: Report

In addition to the layoffs, several individuals within the company have resigned over the past few months, including mid-to-senior level employees and leaders

US layoffs nearly halve in June as job cuts ease in technology sector

Like its peers, Amazon.com in March had said it would axe another 9,000 roles as a part of its second retrenchment drive, as investors also persuaded the firms to cut costs

UBS preparing to cut over half of Credit Suisse's workforce after takeover

Bankers, traders and support staff in Credit Suisse's investment bank in London, New York, and in some parts of Asia are expected to bear the brunt of the cuts

Ford to cut hundreds of US salaried workers to boost profit, lower costs

The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial vehicles, said T.R. Reid, a company spokesman

Goldman starts cutting number of MDs across the globe amid deals slump

The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year

A hard lesson for Byju's Raveendran amid mass firings, delayed results

The former teacher from the southern state of Kerala got carried away. In 2015, just as a smartphone revolution was about to kick off in India, he launched a learning app

Deutsche Bank plans to cut 10% of 17k German retail jobs to curb expenses

The plans at Germany's largest bank come as Claudio de Sanctis prepares to take over the retail unit, known as the private bank division, on July 1

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

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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