Page 2 - Job Cuts

US jobless claims jump to 211,000, led by New York, California, shows data

Initial unemployment claims increased by 21,000 to 211,000 in the week ended March 4, Labor Department data showed Thursday

Twitter fires at least 50 in relentless cut on costs, says report

The job cuts impacted multiple engineering teams, including those supporting advertising technology

Ericsson plans to lay off 8,500 staff worldwide to reduce expenses

This would be the largest layoff in the industry. Analysts predict that North America would likely be worst affected

BASF to cut 2,600 jobs as firm adjusts to future without cheap Russian gas

Europe's competitiveness is increasingly suffering from overregulation, slow and bureaucratic permitting processes, and in particular, high costs for most production input factors

McKinsey plans to cut about 2K jobs in one of its biggest rounds of layoffs

The plan is expected to be finalized in the coming weeks, and the final number of roles to be eliminated from its 45,000 workforce could still change

Web development firm Wix lays off 370 workers in 2nd round of job cuts

Israeli cloud-based web development services company Wix has laid off 370 employees in a second round of job cuts, most of them in the customer service department in the US.

GoDaddy CEO Aman Bhutani cuts 8% jobs amid tough macroeconomic situation

In an email to employees, Bhutani said that most impacted roles are in the US, affecting multiple levels in the company and every division

Open core firm GitLab to cut 7% jobs amid tough macroeconomic conditions

The company's most recent reported headcount was 1,630, implying that the round of redundancies will affect approximately 114 people, though that specific figure is dependent on its current headcount

Nelson Peltz, citing changes at Disney, ends push for seat on board

Activist investor Nelson Peltz has called off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts. Peltz phoned into CNBC on Thursday to say that his firm, Trian Fund Management, got everything it wanted with the changes imposed by Iger. We will be watching, we will be rooting, and the proxy fight is over," Peltz said. Peltz last month announced that he would seek a seat on the board of the entertainment company, citing a failed succession after Iger departed about two years ago and named Bob Chapek as his replacement. Peltz cited over-the-top compensation for executives and other issues. Disney on Wednesday said that it would cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and strategic reorganization." The job cuts amount to about 3 per cent of the entertainment giant's global workforce and were unveiled after Disney reported quarterly results that toppe

Zoom to lay off around 1,300 employees, CEO Eric Yuan taking 98% pay cut

Zoom on Tuesday announced that it will lay off about 1,300 employees, or approximately 15 per cent of its staff, becoming the latest tech company to announce significant job cuts

Boeing plans to cut about 2,000 finance and HR jobs in 2023: Report

The Seattle Times reported Boeing, which has been one of largest private employers in Washington state, plans to outsource about a third of eliminated positions to TCS in Bengaluru, India

Aviation giant Boeing to slash 2,000 jobs in finance, HR this year

Aviation giant Boeing is slashing 2,000 jobs in finance and HR verticals this year and the company outsources about a third of those jobs to Tata Consulting Services (TCS) in Bengaluru

Battered by plunging PC sales, Dell to cut nearly 6,650 jobs globally

The company is experiencing market conditions that "continue to erode with an uncertain future," Co-Chief Operating Officer Jeff Clarke wrote in a memo

Life after layoffs: Disbelief, confusion and a fight for survival

As they cope with grief and a feeling of loss, many of those let go by firms are turning to therapy

FedEx to slash over 10% of management jobs globally, says report

The latest cuts bring FedEx's total employee reductions to 12,000 since June, a spokeswoman said

Edtech major Byju's lays off over 1,000 employees from engineering teams

The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date

US layoffs hit two-year high in Jan as tech firms cut thousands of jobs

Retailers, second after tech, cut 13,000 positions in January, compared with virtually no layoffs a year earlier

Job growth in Indian IT sector declines 25% over corrections in hiring

The hiring intent declined across both large IT giants and unicorns, while trends across other IT startups remained stable as compared to last year, according to a report by naukri.com

Amazon job cuts hit staffers in grocery, robotics, payments, AWS divisions

Amazon announced job cuts of around 18,000 employees last month, and those who lost their jobs were from various divisions of the company, including AWS, healthcare and delivery business, among others

Ohio-based Goodyear to cut 500 jobs amid weak demand, rising inflation

The company said it's grappling with inflation in areas such as wages and benefits, countering the benefit from a decline in raw material costs