Page 8 - Layoff

Samsung to slash thousands of jobs as part of worldwide restructuring

The South Korean company has about 147,000 staff overseas, more than half of its total employee of more than 267,800, according to its latest sustainability report

Disney layoffs: Over 300 corporate positions cut amid declining profits

The latest round of layoffs follows Disney's recent 140 job cuts in its TV division, which was 2 per cent of its workforce, as well as 175 layoffs at Pixar, which represents 14 per cent of its staff

Hershey lays off some workers, move affects less than 1% of employees

In a statement related to the layoffs, Hershey said it remains focused on transforming its business

Boeing considers temporary layoffs to save cash during strike by machinists

The company said moves, which include reduced spending on suppliers, were necessary because our business is in a difficult period

Microsoft to cut 650 jobs from its Xbox unit in third layoff this year

Xbox employees had been bracing for further reductions after Microsoft cut 1,900 jobs, many from Activision units and studios, in January

PwC US to cut 1,800 jobs over restructuring, its first layoffs in 15 years

PwC's US unit will lay off around 1,800 workers, its first formal job cuts since 2009, as part of a restructuring process amid decreased demand for certain services, its US leader, Paul Griggs said

Goldman Sachs to lay off up to 1,800 employees amid annual review process

Goldman Sachs' annual review process has historically resulted in workforce reductions of 2 to 7%, depending on financial performance and market conditions

Apple cuts 100 jobs in digital services group as priorities shift

The layoffs included some engineering roles, and the biggest cuts were made to the team responsible for the Apple Books app and Apple Bookstore

General Motors to lay off more than 1,000 software engineers, mostly in US

The moves come two months after former Apple Inc. executives David Richardson and Baris Cetinok were promoted to senior vice president roles in the group

Retail sector slashes 26,000 jobs due to falling demand, expansion halt

The reduction was primarily driven due to Reliance, Titan, Raymond, Page, and Spencers, which cut 52,000 jobs, or 17% of their workforce

Laxman Narasimhan's ouster at Starbucks adds fuel to record-firing pace

Starbucks has posted two straight quarters of comparable sales declines, and its shares had fallen 20 per cent this year before the CEO change

Top-level exits continue in Wipro as CTO Subha Tatavarti steps down

In another high-level exit at IT major Wipro, its Chief Technology Officer Subha Tatavarti has resigned to pursue opportunities outside the company. Tatavarti joined Wipro in April 2021 as the technology head under the then-CEO and MD Thierry Delaporte. During her three-year stint, she led Wipro's GenAI initiatives and introduced Wipro ai360. "Subha Tatavarti, Chief Technology Officer, resigned from the services of the Company to pursue opportunities outside Wipro," a regulatory filing said on Monday. Before joining Wipro, she led different roles at Walmart and PayPal, among others. She was recognised in "Top 100 Executive Women in Tech to Watch" earlier this year by the WomenTech Network. "I am resigning from the post of CTO, Wipro, effective August 16th. Good luck with your journey," Tatavarti wrote in her resignation letter to Wipro CEO Srini Pallia. This is the fourth top-level exit in the last 4 months after Pallia joined the Bengaluru-based firm in April, following Delaporte

Cisco to lay off thousands more in second job cut this year: Report

Cisco, the largest maker of the routers and switches that direct internet traffic, has been grappling with sluggish demand and supply-chain constraints in its mainstay business

Tech layoffs 2024: IT companies lay off 100,000 employees till July 2024

Major IT firms such as Intel, Microsoft, Intuit, among others have laid off 124,517 employees across the globe till July this year

Massive layoffs at Intel, Delhi coaching centre case & more Top #news in 1 min

The Delhi High Court sarcastically noted it’s a relief the cops didn’t blame rainwater for the students’ deaths at Rau’s IAS, contrasting it with an SUV driver’s arrest. The case has been transferred

Intel to cut thousands of jobs to reduce costs, layoffs to begin this week

Intel, which is scheduled to report second-quarter earnings Thursday, has about 110,000 employees, excluding workers at units that are being spun out

WayCool lays off over 200 employees, aims to achieve profitability

The layoffs have impacted employees across Chennai, Bengaluru and Hyderabad

Microsoft faces backlash over DEI team layoffs amid diversity commitments

Microsoft has laid off its internal team dedicated to diversity, equity, and inclusion (DEI) due to 'changing business needs'

CNN cuts about 100 jobs, to launch digital subscriptions before year's end

CNN is eliminating approximately 100 jobs and plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. In a memo sent to staff on Wednesday, CNN CEO Mark Thompson said noted that it's cutting just 100 jobs out of a total workforce of approximately 3,500. He said that open roles were closed wherever possible in order to minimise the total layoffs. Media organisations, including CNN have struggled to grow audiences and revenue, and have sought to diversify what they're offering to customers. Thompson said that CNN's digital strategy must be ambitious enough to deliver the audiences and the revenue we need to maintain our unique journalistic firepower and succeed as a business. The executive said CNN will create subscription-ready products that offer news, analysis and context in new formats. He emphasised that there will be an effort to keep users on CNN.com's website longer and finding ways to get them to return

Forced layoff row: Paytm not to recover joining bonus after govt steps in

After receiving the Labour Ministry's rap over the alleged termination of an employee, the Paytm management on Wednesday appeared before the regional labour commissioner and agreed not to recover the joining bonus from the worker, according to official sources. Official sources said Paytm has also agreed to make the notice period payment to the said employee. However, they didn't reveal the name of the employee who got the relief. An email sent to Paytm on the issue did not elicit a response. Official sources, meanwhile, said the employee has accepted the exit offer made by Paytm, in the presence of the Regional Labour Commissioner (Central), Bengaluru. They also said following the parleys, the grievance has been resolved to the satisfaction of both sides. They further informed that the Regional Labour Commissioner (Central), Bengaluru, acted swiftly in the matter, following a complaint filed by an employee regarding alleged termination practices at Paytm, and immediately issued