Page 2 - Layoff

EV startup Lucid to lay off around 1,300 employees in upcoming months

Electric vehicle (EV) startup Lucid announced that it is laying off around 1,300 of its employees or 18 per cent of its workforce, within the upcoming months

US-based cloud computing firm Rackspace to lay off 4% of workforce

The company said that it will provide severance and other resources to those employees who are laid off, the report mentioned

If layoffs accelerate in next few months, a recession 'will be underway'

One of the best indicators of an impending recession is the inverted yield curve, particularly the difference between the 10-year Treasury note and the three-month T-bill

Microsoft lays off 559 employees as Seattle-area job cuts top 2,700

Microsoft has laid off 559 employees from its Bellevue and Redmond in Washington state in the US, bringing the company's total to over 2,700 job cuts in the area

No mass layoffs are happening at company: Chief People Officer, Flipkart

Flipkart's decision to not offer hikes to senior management officials would not lead to any job cuts, said Krishna Raghavan, Chief People Officer, Flipkart

Tech job still pays $120 an hour despite mass layoffs in US tech industry

In the past two weeks Meta Platforms Inc. announced it was cutting another 10,000 jobs and eliminating 5,000 open roles, Amazon.com Inc. laid off an additional 9,000 workers and job-hunting website

Apply for jobs, give interviews on tourist, biz visa in US: Federal agency

The move by the USCIS came as thousands of highly skilled foreign-born workers, including Indians, in the US, have lost their jobs due to a series of recent layoffs at companies like Google, Microsoft

Amazon to cut 9,000 jobs in second round of layoffs, says report

Amazon said it is laying off 9,000 more employees in the next few weeks, mostly in AWS, advertising and Twitch, according to media reports

Layoffs in US will bring lot of work to India: GlobalLogic CEO Nitesh Banga

Layoffs by Big Tech in the US are expected to bring a lot of work to India and the country's IT sector is poised to gain significantly during the slowdown, a top official of the US-based firm GlobalLogic said. In an interview to PTI, GlobalLogic President and CEO Nitesh Banga said the company is looking to acquire talents in India and plans to grow its employee base by 25-35 per cent every year. He said India is not going to see much of a slowdown even as there are a lot of layoffs happening in the US. "If Google, Twitter or Facebook or any of these customers actually lay off people in the US, it's not that they don't need to build products. They still need to continue to do their work and I believe that a lot of that work will come to India, because they will still need the talent to keep doing the work, although they will look for cost efficiencies," Banga said. The Hitachi group IT company has close to 15,000 or approximately 50 per cent of its global employee base, in India. "

Disney instructs to identify layoff candidates, may cut 4K jobs in April

It is unclear whether Disney will start laying off employees in small batches or lay off thousands all at once

Wipro lays off 120 employees in US due to 'realignment of business needs'

IT major Wipro has laid off at least 120 employees in the state of Florida, the US, due to a realignment of business needs

Time running out for laid off H-1B employees expected to leave soon

Time is running out for laid off H-1B professionals as under the existing laws they need to leave the country within 60 days of losing their employment status, giving sleepless nights to the thousands of Indian tech workers and their family members. "This has a humanitarian impact on them as their families, including their US-born children are uprooted abruptly, and those who were laid off in the earlier months are now running out of time," the Foundation For India and Indian Diaspora Studies (FIIDS), which took up their cases with lawmakers and federal administration said in a statement on Friday. While the US Citizenship and Immigration Services is considering their request to extend the existing time window to 180 days, the process is likely to take up some time, leaving no other option for these professionals other than to leave the country. "FIIDS appeals to the USCIS, and Department of Homeland Security (DHS) to consider a request to expedite the extension of grace period. FII

Meta starts next round of layoffs with 1,500 jobs in recruiting, HR: Report

During an internal meeting with employees, Chief Executive Officer Mark Zuckerberg told employees the economic climate of layoffs and restructuring could last many years

Donald Trump's Truth Social cuts staff as it awaits merger approval: Report

Some close to Trump Media estimate it can fund operations through September at present spending levels, according to the people

Facebook-parent Meta to cut 10,000 jobs in second round of layoffs

With the latest move, Meta expects expenses in 2023 to come in between $86 billion and $92 billion, lower than the $89 billion to $95 billion forecast previously

Amid tech layoffs, Ronnie Screwvala's upGrad reports uptick in upskilling

upGrad works with over 400 global companies to upskill their talent

Samsung lays off 3% employees at US semiconductor subsidiary: Report

The total number of employees at Samsung DSA is 1,200, of which 30 employees have been removed

Microsoft's 3rd layoff round hits employees in supply chain, Cloud, IoT biz

Microsoft has conducted a third round of job cuts that impacted employees in roles related to supply chain, Artificial Intelligence (AI) and Internet of Things (IoT)

Facebook parent Meta plans additional layoffs over several rounds: Report

Meta Platforms, the parent company of Facebook is planning additional job cuts over several rounds in the next few months, according to media reports, reported The Wall Street Journal (WSJ)

Ford Motor Co to cut 1,100 jobs in Spain after other European layoffs

Ford Motor Co. announced Friday that it will cut around 1,100 jobs at its plant in the eastern Spanish city of Valencia. The cuts are in addition to the 2,300 layoffs largely in Germany and the U.K. that the automaker announced last month as part of a leaner, more competitive cost structure in Europe. Ford Spain said in a statement that it notified unions on Friday of what it said was a profound restructuring of its operations, which comes even as Ford champions the Valencia plant as its preferred site to assemble next-generation electric vehicles on the continent. The plant is Ford's only such facility in Spain and employed 5,400 people. Ford has said its strategy to offer an all-electric fleet in Europe by 2035 has not changed and that production of its first European-built electric car is due to start later this year. The cuts were mainly due to the already announced discontinuing production of the S-Max and Galaxy models in April 2023, Ford Spain said in an email. In January,