Page 15 - Layoff

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

Microsoft's healthcare AI arm Nuance Communications plans to cut jobs

Speech-recognition company Nuance Communications, acquired by Microsoft for $19.7 billion, is undergoing layoffs as it focuses on its healthcare business

Disney to give pink slip to 2,500 employees in third round of layoffs

The first round of layoffs began in March when Disney CEO Bob Iger announced three rounds of layoffs as the company aims to reduce its workforce by around 7,000 workers

More startups to shed flab amid valuation bloat; layoffs 57% of CY22

Globally, 683 companies laid off 194,659 workers in 2023. This is already 18 per cent more than the 164,591 seen in 2022

UK's largest network operator BT to cut 42% of jobs after fiber rollout

The company's workforce will drop to 75,000 to 90,000 people by the fiscal year ending in March 2030 from about 130,000 currently

Money transfer service Zepz to lay off 420 employees, 26% of its workforce

Zepz said that it was implementing "workforce optimisation" to account for roles that had been duplicated following its combination of Sendwave with WorldRemit, according to the report

Amazon implements India layoffs to reduce workforce globally: Report

The downsizing round is part of the layoffs announcement made in March by Amazon CEO Andy Jassy, which was expected to impact 9,000 employees

77% firms predict to have both replacements, new position hirings: Report

Around 77 per cent of Indian companies interviewed expect hiring to include both replacements as well as new positions in 2023-24, a report said on Monday. According to a report by Kolkata-headquartered HR solutions provider Genius Consultants, southern and western regions will predictively have maximum hiring ratios in this financial year, as specified by 33.30 per cent of participants, said the report. The prime focus for experience levels during hiring is agreed by 36.06 per cent to be four to seven years on average, it said. Merely 9 per cent of individuals deem that employees with 13 years and above experience are top candidates while hiring, it added. The report is based on an online survey of 2,100 company executives and HR professionals from March 12 till April 15, across sectors including banking and finance, construction and engineering, education/teaching/training, FMCG, hospitality, HR solutions, IT, ITES and BPO, logistics, manufacturing, media, oil and gas, pharma and

CRED-owned Happay lays off 35% of its workforce as 'restructuring exercise'

According to the report, Happay is giving impacted employees three months salary along with an extension of insurance coverage and some other additional benefits