There is no information on how many people are affected by the recent job cuts. However, Meta has stated that certain teams are undergoing changes to better align with objectives and location plans.
Boeing recorded a loss of $5 billion in the third quarter as the US planemaker continued to spiral during a month-long strike. The company had already faced issues with the certification of the 777X that had significantly delayed the plane's launch.
Pakistan has been struggling to fix its economy for the last many years and it was close to default in 2023 but a timely loan of USD 3 billion by the IMF saved the situation.
This comes as the company faces tough competition in the chip and premium smartphone markets and aims to save money in anticipation of a global slowdown.
Prime Minister Justin Trudeau recently took to social media to announce a significant reduction in low-wage jobs. He highlighted that the labour market has evolved dramatically in recent years and emphasized that his government will now focus on supporting Canadian youth.
Paytm stated that its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank.
Whirlpool, the parent company of household appliance brands Maytag and Amana, is initiating a workforce reduction of approximately 1,000 salaried positions globally due to sluggish demand in the US home appliance market.
Google announced significant restructuring plans, possibly resulting in employee layoffs, with CFO Ruth Porat conveying the message via memo. Porat cited the tech sector's platform shift towards AI, highlighting the need for tough decisions to align with priority areas.
The planned overhaul comes after two decades of war in Iraq and Afghanistan that forced the Army to quickly and dramatically expand in order to fill the brigades sent to the battlefront.
Quoting the reason behind the decision, Nokia said it is aiming to lower its cost base by between ($843 billion and 1.2 billion euros by the end of 2026. That was set to lead to a reduction from 86,000 employees now to between 72,000 and 77,000 during that time period.
Company's CEO Tufan Erginbilgic said the layoffs are aimed at making Rolls-Royce "more streamlined and efficient". Earlier in 2020, the company slashed 9,000 jobs globally as it grappled with the collapse of air travel during the pandemic.
Ramaswamy said, currently, presidents act like “puppets” who can’t implement policies.
Since the beginning of the epidemic, the company has reduced its employees by 17 per cent.
Byju's layoffs: The sales and marketing teams at the company are likely to bear the brunt most by this decision.
As of Tuesday night, more than 1,800 employees had pledged to walk out around the world, with about 870 in Seattle, according to Amazon Employees for Climate Justice.
The company had planned to build the campus about 20 miles (30 kilometers) from the giant Walt Disney World theme park resort, but Josh D’Amaro, chairman of the parks, experiences and products division, said in a memo to employees.
Amazon Layoffs: While announcing 9,000 job cuts, CEO Andy Jassy stated that the decision was based on ongoing priority analysis and economic uncertainty in an online note to employees.
The mobile advertising and digital publishing solutions provider has said that it envisions to hire 150 professionals in the current fiscal
Start up layoff crisis: Some believe that the layoff winter is likely to come to an end in the second half of 2023.
The development is part of a spree of layoff announcements by IT giants like- Microsoft, Google and Twitter. IT firms cut thousands of jobs in the last few months citing global slowdown post-Covid.
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