Page 17 - Layoff

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

Layoffs also harm shareholder returns in the long term: Gartner report

Layoffs can inadvertently reduce shareholder returns when taking actions to protect them, as companies tend to underestimate the organisational drag created by large-scale workforce reductions

Microsoft slashes 158 jobs in US, not part of earlier global layoffs

Microsoft is slashing 158 jobs in Washington State and the new layoffs are not part of the 10,000 announced by the tech company in January, the media reported

Disney+ loses 4 million subscribers as fresh layoff round approaches

Entertainment giant The Walt Disney Company's flagship streaming service Disney+ lost four million subscribers in its second quarter that ended April 1

Paramount Media Networks slashes 25% jobs, to also shut down MTV News

"Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward"

Chip-maker Intel confirms to cut further workforce to reduce costs

Intel said that it is working to accelerate its strategy while navigating a challenging macro-economic environment

LinkedIn lays off 716 employees in a bid to 'streamline' its operations

"In an evolving market, we must continuously have the conviction to adapt our strategy in order to make our vision a reality," said the CEO

Edtech firm Cuemath lays off 100 employees; founder returns as CEO

Edtech companies laying off employees to conserve cash and focus on profitability

Here's how AI is once again putting tech companies in the hiring mood

After a year of layoffs, the past month has given us evidence that tech employment is stabilizing, even perhaps turning up a bit

Homegrown edtech startup Teachmint lays off over 70 employees: Report

Led by edtech startups, over 25,000 employees have been laid off by nearly 100 startups in India including BYJU'S, Unacademy and Vedantu

Meesho lays off 251 employees, CEO admits 'judgement errors in over-hiring'

SoftBank-backed e-commerce firing 15% of workforce, cites 'harsh circumstances'

Meesho fires 251 more in 3rd round layoffs; cites judgement error in hiring

Before this, Meesho had fired 150 employees in April and another 300 in August

Shopify to lay off 20% of workforce in 2nd round, revenue tops expectations

The company also reported better-than-expected results for the first quarter, as more merchants used its online tools and targeting services to attract customers tackling high inflation

Cognizant Q1 profit up 3%; personnel-related action to impact 3,500 staff

IT services company Cognizant posted a 3 per cent year-on-year rise in net income for the January-March quarter, gave muted guidance for the full year 2023 revenue and said its new 'NextGen programme' aimed at simplifying operating model and optimising corporate functions will impact nearly 3,500 employees. The drive for simplification will include operating with fewer layers in an effort to enhance agility and enable faster decision-making, the company said about the 'NextGen programme'. The net income rose to USD 580 million during the three months ended March 31, 2023, against USD 563 million in the year-ago period. The revenue dipped marginally to USD 4,812 million in the just-ended quarter, from USD 4826 million in the same period of the previous year. Cognizant follows January-December financial year. "Full-year 2023 revenue is expected to be USD 19.2 to 19.6 billion, or a decline of 1.2 per cent to growth of 0.8 per cent, or a decline of 1 per cent to growth of 1 per cent in

Morgan Stanley may slash 3,000 jobs in second job cut round: Report

The job cuts will impact financial advisers and personnel supporting them within the wealth management division at Morgan Stanley, the report added

Zuckerberg's net worth rises over $10 bn after results, 2 layoff rounds

Zuckerberg now has a net worth of $87.3 billion and is the 12th richest person in the world, according to the Bloomberg Billionaires Index

Clubhouse lays off over 50% staff: 'We're deeply sorry', say founders

The app was once valued at $4 billion by investors, including Andreessen Horowitz and Tiger Global

Vice media cancels flagship show amid layoffs and company restructure

The news departments at Vice Media will be significantly impacted by the restructure