Page 31 - Layoff

Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

Meta layoffs hit India teams; number of affected employees unclear

The worst lay-off in the global tech industry by Meta, that saw 11,000 employees being shown the door, has hit India teams too, albeit marginally, reliable sources said on Wednesday.

Top headlines: Celebs under scanner for GST evasion, Meta lays off 11,000

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Redfin to cut another 13% workforce, shuts down subsidiary RedfinNow

Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve's fight against inflation. The job cuts amount to 13% of Redfin's workforce, the company announced in a regulatory filing. Redfin also laid off 470 employees in June, blaming slowing home sales. Redfin has slashed more than a quarter of its workforce since April 2022 on the assumption that the housing downturn will last at least through 2023, it said in the filing. The average U.S. long-term mortgage rate is hovering around 7%, partially a result of the Fed raising rates six times this year at it tries to stem four-decade high inflation. Fed officials have boosted their benchmark lending rate by three-quarters of a point at its last four meetings, sowing fears that its heavy-handed policy could tip the U.S. into a recession. More rate hikes are expected into next year, though inflati

You're fired! Layoff crisis getting out of control at unicorns in India

A growing list of top tech unicorns or companies with over $1 billion valuation each is laying-off employees in an attempt to conserve cash and focus on profitability amid a funding winter this year

Facebook parent Meta Inc to begin widespread job cuts starting today

The cuts are expected to affect about 10% of the company, which employed more than 87,000 as of Sept. 30, according to Insider.

Meta Platforms' India staffers on edge over layoff media reports

The global tech giant is struggling, but its India unit is performing rather well

Why Musk's takeover of Twitter and the layoffs will shrink free speech

Musk's vision for Twitter is not particularly complex. He views it as a software platform first, and only then as a social network

After Twitter, Meta Platforms likely to fire thousands of employees

Will be first broad headcount reduction in the tech giant's 18-year history

Unacademy gives pink slips to 350 employees in second round of layoffs

CEO Gaurav Munjal apologises to staff, says market challenges forced relook at commitment of no layoffs

After firing half of Twitter's workers, Musk now asks some to return

Some of those who are being asked to return were laid off by mistake, according to two people familiar with the moves

LIVE: Court orders blocking Congress' Twitter for copyright infringement

From Facebook parent Meta's large scale layoffs to Musk's threat to Twitter account impersonators, catch all the live updates from across the globe here

Hiring of top-level professionals slowing down in Indian startups: Report

In most startups, the CEOs are now participating in the hiring process for senior-level professionals

We condemn the decision, says Ashwini Vaishnaw on Twitter firings

According to sources, the hit was even more strident in India, as nearly 180 of its 230 employees were given the pink slip with immediate effect

Is Elon Musk rewriting the HR rulebook at Twitter?

Elon Musk is facing backlash for unceremoniously expelling so many employees from Twitter. Is Musk setting a new trend where owners can brush aside the HR rulebook and write their own edicts?

Top headlines: Meta prepares for mass-layoff, Musk calls back fired workers

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'No choice', says Elon Musk as he justifies massive layoffs at Twitter

Amid massive layoffs at Twitter across the world, including in India, and the subsequent backlash, the microblogging site's new owner Elon Musk on Saturday justified the move, saying there was "no choice" when the company was losing millions of dollars daily. The company posted a net loss of USD 270 million in the second quarter ended June 30, 2022 compared to a profit of USD 66 million in the same period a year ago. "Regarding Twitter's reduction in force, unfortunately there is no choice when the company is losing over $4M/day," Musk tweeted. "Everyone exited was offered 3 months of severance, which is 50% more than legally required," he added. Hundreds of employees were handed the pink slips at Twitter on Friday as Musk, 51, started overhauling the social media platform which he bought for a whopping USD 44 billion late last month. In a letter to employees obtained by multiple media outlets on Friday, the company said employees would find out by 9 am Pacific Standard Time if th

Human Rights to Accessibility Experience: Key Twitter teams axed by Musk

Days after taking control of Twitter, Elon Musk, on Friday, began firing hundreds of employees in departments across the company.As per Tech Crunch, key Twitter teams including Human Rights, Accessibility, Al Ethics and Curation have been axed so far by the Tesla CEO.The particular news was also confirmed by fired employees on social media. Many posted farewell messages confirming that they have been let go under the mass layoff at Twitter by the microblogging site's new boss Musk.Human RightsIn a tweet, former Twitter Human Rights Counsel Shannon Raj Singh shared news that the company's human rights team was eliminated on Friday."Yesterday was my last day at Twitter: the entire Human Rights team has been cut from the company. I am enormously proud of the work we did to implement the UN Guiding Principles on Business & Human Rights, to protect those at-risk in global conflicts & crises including Ethiopia,Afghanistan, and Ukraine, and to defend the needs of those ...

Top Headlines: FM likely to begin pre-Budget talks, Musk defends layoffs

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Job cuts at Twitter spur concerns about US midterms, human rights

Product and engineering teams were gutted by well over 50%, according to two sources, and other groups - like communications, marketing, human rights and diversity - were almost completely eliminated