Layoff
Meta pauses hirings after mass layoffs, no longer listing remote positions
After laying off 21,000 employees in two job cut rounds, Meta is further looking to cut costs, and has reportedly plans to lower bonus payouts for some workers in its 'Year of Efficiency'
 "Meta pauses hirings after mass layoffs, no longer listing remote positions")
US-based firm Pear Therapeutics files for bankruptcy, lays off workers
US-based firm Pear Therapeutics has filed for Chapter 11 bankruptcy as it struggled to get insurers to pay for its technology and laid off 92 per cent of its workforce
 "US-based firm Pear Therapeutics files for bankruptcy, lays off workers")
Healthtech platform Practo lays off 41 employees, mostly engineers
The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth
 "Healthtech platform Practo lays off 41 employees, mostly engineers")
ZestMoney laying off 100 employees after deal with PhonePe fails
PhonePe in talks with BNPL firm to hire some staff left after acquisition talks fail
US-based firms sack over 270,000 employees in Q1, up by nearly 400%
"The technology sector is leading all industries, and this talent is in demand across industries. In fact, 38 per cent of all cuts are in the Tech sector," the report stated
 "US-based firms sack over 270,000 employees in Q1, up by nearly 400%")
US big tech Google, Amazon struggle to lay off employees in Europe
In Europe, mass layoffs have stalled because of labor protections that make it virtually impossible to dismiss people in some countries without prior consultations with employee interest groups
 "US big tech Google, Amazon struggle to lay off employees in Europe")
Why India's education technology start-ups are in the deep freeze
They will continue to tread on thin ice amid a long funding winter unless they fundamentally revise their business models
 "Why India's education technology start-ups are in the deep freeze")
Amazon plans to reduce employee stock awards in 2025 after mass layoffs
The memo also hinted towards a change in Amazon's pay model that would give staff more cash, "a change that could make up for any potential weakness in its stock price"
 "Amazon plans to reduce employee stock awards in 2025 after mass layoffs")
Delivery firm Dunzo secures $75 mn funding, lays off 30% of staff: Report
According to the report, under the new business model, Dunzo will cut about 50% of its dark stores and run only those that can be profitable or are nearing that threshold
 "Delivery firm Dunzo secures $75 mn funding, lays off 30% of staff: Report")
Twitter's contract workers sue company over Elon Musk's mass layoffs
The suit was brought on behalf of an unspecified number of workers hired by Twitter through employee staffing company TEKsystems Inc
 "Twitter's contract workers sue company over Elon Musk's mass layoffs")
Amazon.com Inc lays off about 100 employees in its gaming divisions
Amazon has struggled to capitalize on its resources in gaming, including through its Crown channel, an entertainment show on the Twitch streaming service
 "Amazon.com Inc lays off about 100 employees in its gaming divisions")
Downturn still nascent, it is time for caution, not expansion: Zoho founder
In an exclusive interaction with Business Standard, Sridhar Vembu say the trend of large-scale layoffs in Silicon Valley has now hit Indian shores
 "Downturn still nascent, it is time for caution, not expansion: Zoho founder")
Walmart sees more than 2,000 job cuts in e-commerce warehouses across US
The losses include more than 1,000 positions at a warehouse in Fort Worth
 "Walmart sees more than 2,000 job cuts in e-commerce warehouses across US")
India's commercial realty market resilient amid global headwinds: Experts
Blow to office market due to slowdown, mass layoffs, slow hiring in tech sector is temporary, they say; sector has fared better than other global markets earlier, will do so this time too
 "India's commercial realty market resilient amid global headwinds: Experts")
Tech layoffs, economic slowdown hampers office space demand in India
Global economic slowdown, tech layoffs and hybrid work have impacted gross leasing of office space in India, as flexible office space providers share reached almost at par with traditional companies
 "Tech layoffs, economic slowdown hampers office space demand in India")
ZestMoney looking to lay off employees after deal with PhonePe fails
ZestMoney founders held a town hall on March 30 and informed employees about layoffs across depts, say sources; not known yet how many would be asked to go
 "ZestMoney looking to lay off employees after deal with PhonePe fails")
Streaming firm Roku lays off 200 more employees, nearly 6% of its workforce
In November 2022, the streaming company had announced it was laying off 200 US employees, or roughly 7 per cent of its workforce
 "Streaming firm Roku lays off 200 more employees, nearly 6% of its workforce")
Richard Branson's rocket company Virgin Orbit lays off 85% of workforce
In a US securities filing, the company announced a workforce reduction of approximately 675 employees, constituting approximately 85 per cent of the company's workforce "in order to reduce expenses"
 "Richard Branson's rocket company Virgin Orbit lays off 85% of workforce")
Unacademy gives pink slips to 380 employees in another round of layoffs
With this round of layoffs, Unacademy's workforce strength is down to under 3,000 compared to 6,000 in the early part of 2022
 "Unacademy gives pink slips to 380 employees in another round of layoffs")
Edtech unicorn Unacademy lays off 380 employees in latest round of job cuts
The Softbank-backed start-up last laid off 350 employees in November
 "Edtech unicorn Unacademy lays off 380 employees in latest round of job cuts")
