Page 28 - Layoff
Low-cost fashion chain H&M to cut 1,500 jobs globally to improve efficiency
Low-cost fashion brand H&M said Wednesday that it will be reducing its global workforce by around 1,500 positions as part of a plan to reduce costs and further improve efficiency. The Sweden-based company said a restructuring charge of 800 million kronor ($76 million) will be booked in the last three months of the year. The staff reduction is estimated to provide annual savings of about 2 billion kronor ($190 million). CEO Helena Helmersson said H&M was very mindful of the fact that colleagues will be affected by this. We will support our colleagues in finding the best possible solution for their next step. H&M was founded in Sweden in 1947. Besides the clothing retailer, the group includes brands like COS, Monki, Weekday, Cheap Monday, & Other Stories, H&M Home, ARKET and Afound. It counts about 4,664 stores in 77 markets and has 57 online markets.
 "Low-cost fashion chain H&M to cut 1,500 jobs globally to improve efficiency")
US judge stops Amazon from firing employees for unionisation efforts
A US judge has issued a cease and desist order against Amazon to stop the commerce giant from firing employees for unionisation.
 "US judge stops Amazon from firing employees for unionisation efforts")
In coming global recession, job cuts won't mean mass layoffs: Report
This time around, workers have a better-than-usual shot at holding onto their jobs if recession arrives
 "In coming global recession, job cuts won't mean mass layoffs: Report")
Dailyhunt and Josh parent firm VerSe Innovation lays off 150 employees
VerSe Innovation, the parent company of Dailyhunt and short-form video platform Josh, has laid off nearly 150 employees in a bid to 'streamline' its costs and teams
 "Dailyhunt and Josh parent firm VerSe Innovation lays off 150 employees")
Smart pickup in good jobs
The estimated 0.7 million additional jobs created by listed companies may easily more than offset the recent layoffs seen in tech companies
Amid tech layoffs, saluting-face emoji is the placard of the digital world
As Twitter saw massive layoffs, followed by mass resignation, saluting-face emojis emerged as the employees' go-to for expressing their solidarity and protest
 "Amid tech layoffs, saluting-face emoji is the placard of the digital world")
CEO of $4.5 bn digital insurance company Wefox 'disgusted' at tech layoffs
Julian Teicke told CNBC he is "a little disgusted by statements like, 'never miss a good crisis' or 'we have to cut the fat'"
 "CEO of $4.5 bn digital insurance company Wefox 'disgusted' at tech layoffs")
IT sector hiring down 43% in Oct; recovery likely in Jan-March: Study
Ukraine war, funding cuts for start-ups, companies tightening spending among reasons for hiring decline
 "IT sector hiring down 43% in Oct; recovery likely in Jan-March: Study")
What layoffs? Ronnie Screwvala-led upGrad on a hectic expansion spree
In a studied contrarian move, the Ronnie Screwvala-led edtech company is on a hectic expansion spree
 "What layoffs? Ronnie Screwvala-led upGrad on a hectic expansion spree")
Amazon to pull down shutters in food-delivery business in India on Dec 29
Amazon Food had onboarded 3,000 partners including QSR brands such as McDonald's and Domino's Pizza; some 25 people working on the project have all have been absorbed by the company
 "Amazon to pull down shutters in food-delivery business in India on Dec 29")
No employee was sacked, all resignations were voluntary: Amazon India
Amazon India said that it reviews its employees every year across verticals and checks if the organisation requires realignment
Musk refuses to reimburse 'millions of dollars' owed to Twitter vendors
This comes amid, several cost-cutting measures by Musk to make Twitter more profitable, including layoffs across Twitter offices around the world
 "Musk refuses to reimburse 'millions of dollars' owed to Twitter vendors")
Falling rupee, rising costs, job insecurity dampen study-abroad sentiment
Mass layoffs by tech biggies add to concern, but demand from non-metros robust
 "Falling rupee, rising costs, job insecurity dampen study-abroad sentiment")
Done with layoffs, Elon Musk says he wants to go on hiring spree
Plans engineering teams in India, japan Indonesia, and Brazil
 "Done with layoffs, Elon Musk says he wants to go on hiring spree")
Musk's top-down approach will harm Twitter, says Manish Maheshwari
Large platforms can also go into exponential decay if the network effect stops working in their favour, Maheshwari said
 "Musk's top-down approach will harm Twitter, says Manish Maheshwari")
In layoff season, Google may fire 10,000 'low performing' employees
The news on layoff at Google has come within days of a letter that hedge fund TCI, an investor in the company, wrote to Alphabet. TCI has shares worth $6 billion in Alphabet
 "In layoff season, Google may fire 10,000 'low performing' employees")
Twitter influences some people's jobs but it isn't helping your career
In an era when all workers are supposed to sustain a personal brand that in theory will insulate us from job losses, something important could be lost if the site disappears
 "Twitter influences some people's jobs but it isn't helping your career")
Twitter France head Damien Viel quits amid mass layoffs, says 'It's over'
Damien Viel, who confirmed his departure in a separate message to Bloomberg, had led the region for about seven years
 "Twitter France head Damien Viel quits amid mass layoffs, says 'It's over'")
Twitter chief Elon Musk considers further layoffs in sales on Monday
Musk had offered Twitter employees an ultimatum: either stay on and work long hours in a more "hardcore" version of Twitter, or leave with severance pay
 "Twitter chief Elon Musk considers further layoffs in sales on Monday")
Moody's closing its consulting business in China, laying off staff: Report
The US-headquartered credit rating firm, Moody's Corp is shutting it's China consulting business and is laying off its staff
 "Moody's closing its consulting business in China, laying off staff: Report")