Page 29 - Layoff

E-commerce platform Carousell lays off 110 employees to reduce costs

Consumer-to-consumer (C2C) e-commerce platform Carousell has laid off about 110 employees, or 10 per cent of its total workforce, in an effort to reduce costs.

OYO to downsize 3,700-employee base including fresh hires, cut 600 jobs

IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. OYO said the move is part of implementing wide ranging changes in its organisational structure. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner relationship management and the business development teams. "OYO will downsize 10 per cent of its 3,700-employee base, which includes fresh hiring of 250 members and letting go of 600 employees," a statement said. Product and engineering teams are being merged for smoother functioning, it added. The downsizing in tech is also happening in teams which were developing pilots and proof of concepts such as in-app gaming, social content curation and patron facilitated content, the company said. Additionally, members

Global FinTech firm FIS issues pink slips to over 400 employees in India

Move comes a year after firm's plans to hire 10,000 people in the country; more likely to be axed in restructuring exercise; final settlement likely within five days from separation date

Layoffs happening and likely to hit hundreds: CNN to employees

Employees at the company had been anxiously bracing for the layoffs since Licht informed them last month that "unsettling" changes lie ahead

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.

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.

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

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

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

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'"

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

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

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

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

Falling rupee, rising costs, job insecurity dampen study-abroad sentiment

Mass layoffs by tech biggies add to concern, but demand from non-metros robust

Done with layoffs, Elon Musk says he wants to go on hiring spree

Plans engineering teams in India, japan Indonesia, and Brazil

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

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