Page 32 - Layoff

350 employees in Udaan to get pink slip in pursuit of profitability

India's largest business-to-business e-commerce firm sacked 180 employees in June

Twitter fires majority of employees in India as part of global layoffs

The lay-offs in India were across segments such as policy, communication, engineering and development, said sources in the know

B2B unicorn Udaan fires around 350 employees on cost cutting measures

B2B unicorn udaan has fired 300-350 employees across India on account of role redundancies and cost cutting measures, according to sources. Few of the employees told PTI that they were intimated about the layoff on Friday morning and told that the human resource department will reach out to them for final paperwork. Sources aware of the development said around 300-350 people have been laid off from the company. When contacted, udaan confirmed the development without sharing the number of employees hit by the decision. "As we move forward in our journey towards making udaan a profitable company, the efficiency enhancement drive and the evolution in business model has created some redundancies in the system, with some roles no longer required. As a responsible organisation, we are working towards providing all requisite support to the impacted employees," a company spokesperson said. The spokesperson said over the last few years, udaan has made significant investments to build a ...

Twitter starts laying off employees in India as part of global job cuts

Twitter has started laying off employees in India as part of a global job cut ordered by the social media platform's new owner Elon Musk to attain economies of scale and make the USD 44 billion acquisition viable. World's richest businessman Musk began his innings at Twitter last week by firing the CEO Parag Agrawal as well as the CFO and some other top executives. This was followed by an exodus of top management. Musk has now started a massive exercise to downsize the company's global workforce. "Lay-off has started. Some of my colleagues have received email notification regarding this," a Twitter India employee told PTI on condition of anonymity. Another source said the lay-offs have affected a "significant chunk" of the India team. The full details of the job cuts were not immediately available. Twitter India did not respond to email queries. The US-based social media platform, in an internal email to employees earlier, had said, "In an effort to place Twitter on a healthy pa

Twitter sued for mass layoffs by Elon Musk without enough notice

Twitter intends to start cutting staff Friday, the company said in an email to employees. Musk plans to get rid of half the workforce

Fear and anxiety rampant at Twitter India as Musk starts downsizing

People in the know described the mood within the India development centres and across all segments as "very fearful", with people not sure if they will have a job or not

'Return home': Twitter to start laying off employees today, shuts office

Twitter told its employees through an email that they would receive an alert on staff cuts on their official or personal IDs on Friday

Elon Musk to commence job cuts at Twitter today as advertisers hit pause

"In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday," Twitter management said in an email reviewed by Bloomberg

Morgan Stanley plans fresh round of layoffs globally in coming weeks

Some cuts will come from capital markets teams in Hong Kong and mainland China, and most of the rest are expected to be from other teams focusing on China business, both onshore and offshore

Elon Musk plans to eliminate 3,700 jobs at Twitter to cut costs: Reports

Musk also intends to reverse the company's existing work-from-anywhere policy, asking remaining employees to report to offices -- though some exceptions could be made, the people said

Fear, distrust in Twitter as Musk's 'inner circle' orders 12 hour shifts

In the meanwhile, there have been no discussions over overtime pay, comp time or job security with the employees

Overall job cuts no more than 5% to avoid role duplication: Byju Raveendran

"I want to emphasise that the overall job cuts are not more than five per cent of our total strength," he said

Truly sorry to those who'll have to leave Byju's, says Raveendran to staff

The edtech giant has to sever 2,500 employees to avoid role duplication across businesses, says founder in a letter to employees

Musk denies reports of firing Twitter employees in attempt to avoid payouts

According to media reports on Saturday, Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday.

Employees not forced to resign, it's part of 5% workforce reduction: BYJU's

Earlier this month, BYJU's had announced to reduce 5 per cent of its 50,000-strong workforce (about 2,500 people), which will be "rationalised across product, content, media

Philips to slash 4,000 jobs globally after weak quarterly earnings

The job cut represents over five per cent of the company's work force

Elon Musk plans to cut 75% of Twitter workforce after acquisition: Report

Elon Musk plans to lay off most of Twitter's workforce if and when he becomes owner of the social media company, according to a report on Thursday by The Washington Post. Musk has told prospective investors in his Twitter purchase that he plans to cut nearly 75 per cent of Twitter's employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report. The newspaper cited documents and unnamed sources familiar with the deliberations. San Francisco-based Twitter and a representative for Musk attorney Alex Spiro did not immediately respond to messages seeking comment. While job cuts have been expected regardless of the sale, the magnitude of Musk's planned cuts are far more extreme than anything Twitter had planned. Musk himself has alluded to the need to cull some of the company's staff in the past, but he hadn't given a specific number at least not publicly. "A 75 per cent head count cut would indicate, at least out of the gates, stronger free cash fl

Musk plans to cut Twitter workforce by 75% in a matter of months: Report

Elon Musk's plans for Twitter Inc. involve slashing its staff by nearly 75% in a matter of months, according to documents obtained by the Washington Post

Microsoft lays off nearly 1,000 employees across multiple divisions: Report

Tech giant Microsoft has laid off nearly 1,000 employees across multiple divisions of the company, media reports said

Why are Indian start-ups facing such a severe funding winter?

Venture funding data indicates that Indian start-ups are in the middle of a harsh funding winter. While the global situation is not good, the slowdown is more pronounced in India. Let us find out why