Page 34 - Layoff

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

Ed-tech firm FrontRow lays off 75% of staff, day after Byju's move

Second round of sacking to save costs reduces FrontRow's headcount to 45 people

Intel plans major layoffs this month as PC sales nosedive globally: Report

Chip-maker Intel is reportedly planning job cuts that can run in thousands, especially hitting its sales and marketing teams, as consumer PC sales nosedive globally

Byju's aims for profitability by March 2023, to fire 2,500 employees

Edtech major Byju's has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to retrenchment of 5 per cent employees or about 2,500 people in next six months. Byju's co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business. "We have designed a path to profitability which we plan to achieve by March 2023. We have built significant brand awareness throughout India and there is scope to optimise marketing budget and prioritise the spends in a way that it creates a global footprint. Second is operational cost and the third is integration of multiple business units," Gokulnath said. She said that the K10 subsidiaries -- Meritnation, TutorVista, Scholar and HashLearn -- will now be consolidated as one business unit under India business. Aakash and Great Learning will continue to function as

Intel plans thousands of job cuts to manage cost amid PC market slowdown

Intel will announced the layoffs as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on October 27

Crypto.com labels mass layoff of 2,000 employees report as 'inaccurate'

Cryptocurrency exchange Crypto.com has said that the report suggesting that it laid off over 2,000 of its employees was "incorrect", media reports say

This CEO wants people to be happy that he laid off 500 employees

US exercise and fitness equipment company Peloton CEO Barry McCarthy has announced to cut 12 per cent of the workforce (nearly 500 employees) in a latest lay-off round

12k Facebook employees may lose jobs amid 'quiet layoffs', says report

Meta is reportedly conducting 'quiet layoffs' at Facebook that may lead to thousands of job cuts -- at least 12,000 or about 15 per cent of its workforce

EPAM sacks around 100 Indian employees, revokes offer letter of others

At least EPAM 100 employees, across testing, .Net, DevOps, and Java domains in both firms - EPAM Systems and EPAM Anywhere - have been asked to resign

Indian crypto exchange WazirX fires 40% of staff amid downturn: Report

The laid-off employees were informed on Friday that they would be paid for 45 days and that they would no longer be needed to report for work, says the report

No hirings, more layoffs soon, Meta CEO Zuckerberg tells employees

Meta Founder and CEO Mark Zuckerberg has made it clear that the social network is freezing hiring across the board, warning that more layoffs are in the pipeline.

SoftBank cuts about 150 staff globally, including at Vision Fund: Report

The Tokyo-based company informed some staff Thursday and at least 100 workers will likely be affected, said the people, asking not to be named as the information is not public

Meta aims to cut costs by at least 10% within next few months: Report

The company's business has taken a hit in recent months as recession fears and competitive pressures hit digital ads sales

A painful halt: If you work in film and TV, get ready for layoff

A multiyear boom in film and TV production, driven by media firms racing to sign up subscribers for their new streaming services, has come to a painful halt

Gap eliminates 500 corporate jobs amid shrinking margins

The eliminated roles are mainly at its offices in San Francisco, New York and in Asia