Page 18 - Layoff
Ernst & Young to slash 3,000 jobs in US due to 'overcapacity': Report
Joining the 'Big Four' consulting firms, global professional services provider Ernst & Young (EY) will slash around 3,000 jobs or 5 per cent of its workforce in the US, the media reported.
 "Ernst & Young to slash 3,000 jobs in US due to 'overcapacity': Report")
Nearly half of Indian workers don't plan to hop jobs as hiring slows
The findings showed that working from office emerged as the favoured work mode for current jobseekers, with 57 per cent preferring to work from office
 "Nearly half of Indian workers don't plan to hop jobs as hiring slows")
Top headlines: HDFC Bank recommends 1900% dividend, Sec 144 imposed in UP
Business Standard brings you top headlines at this hour
 "Top headlines: HDFC Bank recommends 1900% dividend, Sec 144 imposed in UP")
US retail giant Best Buy to lay off hundreds of employees amid inflation
"Employees in 'consultant' roles told they can reapply for other internal jobs or receive severance," the report said
 "US retail giant Best Buy to lay off hundreds of employees amid inflation")
Mass layoffs and absentee bosses create a morale crisis at Meta
"So many of the employees feel like they're in limbo right now," said Erin Sumner, a global director of human resources at DeleteMe, who was laid off from Facebook in November
 "Mass layoffs and absentee bosses create a morale crisis at Meta")
Grocery delivery app MilkRun to wind down business, lays off 400 employees
MilkRun in February had announced it would make 20 per cent of its then staff redundant, as part of a move to consolidate its delivery hubs
 "Grocery delivery app MilkRun to wind down business, lays off 400 employees")
Running Twitter 'quite painful', firing people 'not fun at all': Elon Musk
Musk said the legacy verified blue ticks on Twitter will be removed by next week
 "Running Twitter 'quite painful', firing people 'not fun at all': Elon Musk")
Parag Agrawal sues Elon Musk: everything about the Twitter story so far
Ex-CEO Parag Agrawal, Twitter's former general counsel Vijaya Gadde and Ned Segal, former chief financial officer were removed from their positions
 "Parag Agrawal sues Elon Musk: everything about the Twitter story so far")
Google gearing up for another round of layoffs? Here's what CEO Pichai says
A few months ago, Sundar Pichai said that the tech giant is looking to become more efficient and is looking at every aspect
 "Google gearing up for another round of layoffs? Here's what CEO Pichai says")
Tech giants offering one-year salary to encourage resignations in Europe
All big tech giants are still reducing staff strength across the globe, but are struggling to lay off employees in Europe because of strong labour protection laws there
US-based firm Pear Therapeutics files for bankruptcy, lays off workers
US-based firm Pear Therapeutics has filed for Chapter 11 bankruptcy as it struggled to get insurers to pay for its technology and laid off 92 per cent of its workforce
Healthtech platform Practo lays off 41 employees, mostly engineers
The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth
 "Healthtech platform Practo lays off 41 employees, mostly engineers")
ZestMoney laying off 100 employees after deal with PhonePe fails
PhonePe in talks with BNPL firm to hire some staff left after acquisition talks fail
US-based firms sack over 270,000 employees in Q1, up by nearly 400%
"The technology sector is leading all industries, and this talent is in demand across industries. In fact, 38 per cent of all cuts are in the Tech sector," the report stated
 "US-based firms sack over 270,000 employees in Q1, up by nearly 400%")
US big tech Google, Amazon struggle to lay off employees in Europe
In Europe, mass layoffs have stalled because of labor protections that make it virtually impossible to dismiss people in some countries without prior consultations with employee interest groups
 "US big tech Google, Amazon struggle to lay off employees in Europe")
Why India's education technology start-ups are in the deep freeze
They will continue to tread on thin ice amid a long funding winter unless they fundamentally revise their business models
 "Why India's education technology start-ups are in the deep freeze")
Amazon plans to reduce employee stock awards in 2025 after mass layoffs
The memo also hinted towards a change in Amazon's pay model that would give staff more cash, "a change that could make up for any potential weakness in its stock price"
 "Amazon plans to reduce employee stock awards in 2025 after mass layoffs")
Delivery firm Dunzo secures $75 mn funding, lays off 30% of staff: Report
According to the report, under the new business model, Dunzo will cut about 50% of its dark stores and run only those that can be profitable or are nearing that threshold
 "Delivery firm Dunzo secures $75 mn funding, lays off 30% of staff: Report")
Twitter's contract workers sue company over Elon Musk's mass layoffs
The suit was brought on behalf of an unspecified number of workers hired by Twitter through employee staffing company TEKsystems Inc
 "Twitter's contract workers sue company over Elon Musk's mass layoffs")
Amazon.com Inc lays off about 100 employees in its gaming divisions
Amazon has struggled to capitalize on its resources in gaming, including through its Crown channel, an entertainment show on the Twitch streaming service
 "Amazon.com Inc lays off about 100 employees in its gaming divisions")