Page 13 - Layoff

Laid off? Seek advice before claiming tax exemption on severance pay

You can claim only if the payout is voluntary and you have documentary proof to this effect

Outsourced content moderators sacked in fresh job cuts at Musk's Twitter

Twitter's new owner Elon Musk is further gutting the teams that battle misinformation on the social media platform as outsourced moderators learned over the weekend they were out of a job. Twitter and other big social media firms have relied heavily on contractors to track hate and enforce rules against harmful content. But many of those content watchdogs have now headed out the door, first when Twitter fired much of its full-time workforce by email on Nov. 4 and now as it moves to eliminate an untold number of contract jobs. Melissa Ingle, who worked at Twitter as a contractor for more than a year, was one of a number of contractors who said they were terminated Saturday. She said she's concerned that there's going to be an increase in abuse on Twitter with the number of workers leaving. I love the platform and I really enjoyed working at the company and trying to make it better. And I'm just really fearful of what's going to slip through the cracks, she said Sunday. Ingle, a dat

Chip curbs: Biden has outdone Trump in forcing the world to align on China

That's not just a challenge to Beijing, but also asks tough questions of allies - and presents Washington with a dilemma over how far it's willing to squeeze them to comply.

Job cuts at Singapore tech companies are impacting Indians. Here's how

While revenue and jobs in the tech will be impacted in the short-term, and market volatility is likely in the near future, the tech industry is expected to continue to grow in the long-term.

Is the Meta Inc severance package a lesson for others?

Meta's move to expel 13% of its workforce comes with a generous severance package. New Indian companies may be ruthless with severance, but are liberal with the severance packages. What's behind this?

Nearly half of job cuts were in tech, reorg underway: Meta executives

The executives said that the first mass layoff in the social media company's 18-year history affected staffers at every level and on every team, including individuals with high performance ratings

Twitter bankruptcy possible if cash burn doesn't stop, Musk tells employees

Confidence in the company has eroded so rapidly that, even before Musk's bankruptcy comments, some funds were offering to buy the loans for as little as 60 cents on the dollar

Crypto exchange Coinbase to lay off more employees amid FTX saga: Report

The layoffs were announced internally and the company is likely to sack around 60 employees in its recruiting and institutional onboarding teams, reports The Information.

Pandemic boom to layoff crisis: How big tech and startups got it wrong

Pandemic boom to season of layoffs: How big tech and startups got it wrong

It is not just Meta which is looking at becoming capital efficient. Alphabet, the parent company of Google and Microsoft have already sent messages that focus will be on increasing productivity

Facebook parent Meta laid off Indian techies within 2-3 days of joining

Some of the Indian techies, who switched to social media major Meta after quitting their stable jobs just two-three days ago, are among the 11,000 people laid off by the company. Facebook has laid off 11,000 employees across the globe to cut down cost. An IT professional Neelima Agarwal, who joined Meta two days back posted on social media platfrom Linkedin, that she is among the people who have lost their jobs. "Relocated to Canada from india just a week back and joined meta 2 days ago after going through such a long visa process. But the unfortunate sad day has come and i got laid off," she said. Neelime had left her two-year old job at Microsoft Office in Hyderabad to join Meta, according to her LinkedIn profile. After working for over three years at Amazon office in Bengaluru, Vishwajeet Jha said he joined Meta three days back and has been laid off now. "I joined Meta three days back after waiting for the long visa process. Thanks to all the folks who made that transition smo

Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

Meta layoffs hit India teams; number of affected employees unclear

The worst lay-off in the global tech industry by Meta, that saw 11,000 employees being shown the door, has hit India teams too, albeit marginally, reliable sources said on Wednesday.

Top headlines: Celebs under scanner for GST evasion, Meta lays off 11,000

Business Standard brings you the top headlines this hour

Redfin to cut another 13% workforce, shuts down subsidiary RedfinNow

Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve's fight against inflation. The job cuts amount to 13% of Redfin's workforce, the company announced in a regulatory filing. Redfin also laid off 470 employees in June, blaming slowing home sales. Redfin has slashed more than a quarter of its workforce since April 2022 on the assumption that the housing downturn will last at least through 2023, it said in the filing. The average U.S. long-term mortgage rate is hovering around 7%, partially a result of the Fed raising rates six times this year at it tries to stem four-decade high inflation. Fed officials have boosted their benchmark lending rate by three-quarters of a point at its last four meetings, sowing fears that its heavy-handed policy could tip the U.S. into a recession. More rate hikes are expected into next year, though inflati

You're fired! Layoff crisis getting out of control at unicorns in India

A growing list of top tech unicorns or companies with over $1 billion valuation each is laying-off employees in an attempt to conserve cash and focus on profitability amid a funding winter this year

Facebook parent Meta Inc to begin widespread job cuts starting today

The cuts are expected to affect about 10% of the company, which employed more than 87,000 as of Sept. 30, according to Insider.

Meta Platforms' India staffers on edge over layoff media reports

The global tech giant is struggling, but its India unit is performing rather well

Why Musk's takeover of Twitter and the layoffs will shrink free speech

Musk's vision for Twitter is not particularly complex. He views it as a software platform first, and only then as a social network

After Twitter, Meta Platforms likely to fire thousands of employees

Will be first broad headcount reduction in the tech giant's 18-year history