Tag: job cuts

From Microsoft to Amazon, here’s a look at tech and retail companies that have recently made layoffs
27Jan By adminNo Comments
Technology

From Microsoft to Amazon, here’s a look at tech and retail companies that have recently made layoffs

[ad_1] 2024 has already proven to be a difficult year for layoffs. A handful of companies have been making job cuts in recent weeks, bringing uncertainty for workers across industries.In the world of retail and tech, some of these cuts arrive after a ramp-up in hiring seen during the COVID-19 pandemic — when people spent more time and money online. Now, many companies are reducing their workforces to help lower costs and bolster their bottom lines. Here's some tech and retail companies that have laid of employees of late:layoffs REI is laying off 357 workers, mostly in the outdoor retailer's headquarters and distribution centers. In a letter to employees, CEO Eric Artz noted that “outdoor specialty retail has experienced four quarters of decline — and that trend has been worsening." Whi...
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Google CEO Sundar Pichai tells employees to expect more job cuts this year: Report
18Jan By adminNo Comments
Technology

Google CEO Sundar Pichai tells employees to expect more job cuts this year: Report

[ad_1] Google CEO Sundar Pichai told employees to expect more job cuts at the Alphabet-owned company this year, The Verge reported on Wednesday, citing an internal memo.Pichai said in the memo that the layoffs this year were focused on removing layers to simplify execution and drive velocity in some areas, according to the report. The move adds to signs that job cuts will continue this year, as companies look to adopt artificial intelligence software and automation to lighten workloads. "These role eliminations are not at the scale of last year's reductions, and will not touch every team," Pichai informed all employees in the memo."We have ambitious goals, and will be investing in our big priorities this year."A Google representative confirmed to Reuters that an email was sent to all em...
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Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market
20Oct By adminNo Comments
Technology

Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

[ad_1] Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit.The Finnish company, one of the world's main suppliers of high-speed 5G wireless networks, said it's trying “to navigate the current market uncertainty" as higher interest rates take a toll. We are now on WhatsApp. Click to join. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period.Nokia's third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last...
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Microsoft-Owned LinkedIn Cuts 668 Jobs in Second Round of Layoffs This Year
17Oct By adminNo Comments
Technology

Microsoft-Owned LinkedIn Cuts 668 Jobs in Second Round of Layoffs This Year

[ad_1] Microsoft Corp.'s LinkedIn is cutting about 668 roles across its engineering, product, talent and finance teams. These are the second such cuts this year as fewer companies use the hiring platform and corporate social network.LinkedIn is “continuing to invest in strategic priorities for our future and to ensure we continue to deliver value to our members,” the company said in a blog post Monday. We are now on WhatsApp. Click to join. As fewer employees look for new jobs and fewer companies hire, LinkedIn is facing less demand for its services. In May, the social network said it planned to shutter its Chinese jobs app and cut about 716 roles.Still, LinkedIn has grown under Microsoft, which acquired the professional network for $26.2 billion in 2016. The company said revenue from L...
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AI chatbots to conduct job interviews? Take a peek at the future
20Jun By adminNo Comments
Technology

AI chatbots to conduct job interviews? Take a peek at the future

[ad_1] Artificial intelligence (AI) is a widely talked about, yet a polarizing topic these days. While we're witnessing its application in our day-to-day lives, debates about its merits and demerits continue. Recently, AI tools for designing rooms, editing pictures, and even writing exams have emerged. While people in search of potential jobs are also using these technologies to build their resumes, job interviews might soon be conducted by an AI chatbot itself. AI interviews - A reality soon?According to a report by ZDNet, employers might soon leverage artificial intelligence on their side and it will be used to conduct job interviews by 2024. The report is based on a survey conducted by Resume Builder which found that 43 percent of companies already have or plan to adopt AI interviews...
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A 2nd wave of layoffs at Meta; 10,000 jobs are cut
15Mar By adminNo Comments
Technology

A 2nd wave of layoffs at Meta; 10,000 jobs are cut

[ad_1] Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard. The company announced 11,000 job cuts in November, about 13% of its workforce at the time. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions. “This will be tough and there's no way around that,” said CEO Mark Zuckerberg. Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go. Hiring in the U.S. is still strong, but layoffs have hit hard in some sectors. Early last month, Meta posted fa...
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Video conferencing star Zoom cuts staff by 15 percent
8Feb By adminNo Comments
Technology

Video conferencing star Zoom cuts staff by 15 percent

[ad_1] The company behind the Zoom video conferencing platform -- which became a household name during the pandemic -- announced Tuesday it is laying off about 15 percent of its staff. Zoom Video Communications chief executive Eric Yuan is also taking a 98 percent cut in salary this year and forgoing his executive bonus, he said in a blog post about the job cuts. He added that members of his executive leadership team are taking a 20 percent salary reduction and also forfeiting bonuses this year. While people and businesses continue to rely on Zoom "as the world transitions to life post-pandemic," the Silicon Valley-based firm is seeing customers cut back on spending, Yuan said in the post. Zoom has made the "tough but necessary" decision to lay off about 1,300 people, or roughl...
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Pinterest Cuts About 150 Jobs, Joining Flurry of Tech Layoffs
2Feb By adminNo Comments
Technology

Pinterest Cuts About 150 Jobs, Joining Flurry of Tech Layoffs

[ad_1] Pinterest Inc. is laying off about 150 employees, the latest technology company to cut costs in a turbulent time for an industry that expanded rapidly over the past few years. The digital-search company that lets users create online pinboards informed impacted employees Wednesday. The move affected less than 5% of Pinterest's total workers, according to a person familiar with the company, who asked not to be identified because the details haven't been announced. Pinterest had about 4,000 employees as of the end of the third quarter. The job cuts came from teams across the San Francisco-based company, though not all were affected to the same degree, the person said. A spokeswoman for Pinterest confirmed there were cuts. “We're making organizational changes to further set u...
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Workday Announces Job Cuts Affecting 3% of Global Workforce
31Jan By adminNo Comments
Technology

Workday Announces Job Cuts Affecting 3% of Global Workforce

[ad_1] Workday Inc., a maker of software for business tasks such as human resources, said it was eliminating 3% of its global workforce in response to a “challenging” global economic environment. Workday Inc., a maker of software for business tasks such as human resources, said it was eliminating 3% of its global workforce in response to a “challenging” global economic environment. The company had about 17,000 employees as of July, according to data compiled by Bloomberg. “We have decided to restructure and realign some teams across Workday, leading to the difficult decision to eliminate roles,” the company said in an email to staff, adding that the majority of cuts would be “happening in our Product & Technology organization.” It said employees would be notified by the end...
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Microsoft, Amazon set to erase 28,000 jobs as tech slump deepens
20Jan By adminNo Comments
Technology

Microsoft, Amazon set to erase 28,000 jobs as tech slump deepens

[ad_1] Microsoft Corp. and Amazon.com Inc., two of the world’s biggest companies, began cutting a total of 28,000 jobs on Wednesday in a post-pandemic reckoning that has left almost no tech name unscathed. Microsoft Corp. and Amazon.com Inc., two of the world's biggest companies, began cutting a total of 28,000 jobs on Wednesday in a post-pandemic reckoning that has left almost no tech name unscathed. The software giant began notifying some of the 10,000 workers that will lose their jobs this quarter, while its Seattle-based neighbor and cloud rival Amazon started sending out emails to people in the US, Canada and Costa Rica who are among 18,000 people whose positions will be eliminated. Both companies said the painful measures were necessary to offset slowing sales and a possibl...
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