Tag: job cuts

Microsoft to Cut Jobs as Layoffs Go Deeper Over Demand Slump Fears
18Jan By adminNo Comments
Technology

Microsoft to Cut Jobs as Layoffs Go Deeper Over Demand Slump Fears

[ad_1] Microsoft Corp. plans to cut jobs in a number of engineering divisions on Wednesday. Microsoft Corp. plans to cut jobs in a number of engineering divisions on Wednesday, according to a person familiar with the matter, joining the ranks of technology giants that are scaling back as the industry prepares for a prolonged slump in demand. The magnitude of the cuts couldn't be learned, but the person, who asked not to be identified discussing confidential matters, said the reduction will be significantly larger than other rounds at Microsoft in the past year. Those cuts impacted less than 1% of the software giant's workforce of more than 200,000. Microsoft most recently shrank its workforce in October and July, and has eliminated open positions and paused hiring in various grou...
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Tech Layoffs Offer Hiring Boon for Startups That Survive
10Dec By adminNo Comments
Technology

Tech Layoffs Offer Hiring Boon for Startups That Survive

[ad_1] With VC funding drying up and layoffs spreading, a buyer’s market is finally here for those startups with cash available to expand. Thousands of layoffs across the tech sector may end up being a boon for startups that struggled to hire talent during the heady days of sky-high valuations. The big catch is they need to ensure their own survival first after venture-capital investors pulled back sharply this year. The history of Silicon Valley is awash with stories of companies that were founded, or gained traction, in the ruins of recession. Amazon.com Inc. and Google, now known as Alphabet Inc., are among the big winners from past economic slumps. Google rose from the ashes of the dot-com bust of 2000 after it picked up a plethora of engineers laid off elsewhere, Margaret O'Ma...
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Amazon, Meta Join Ranks of Tech Companies Slashing Thousands of Jobs
19Nov By adminNo Comments
Technology

Amazon, Meta Join Ranks of Tech Companies Slashing Thousands of Jobs

[ad_1] A running list of the layoffs announced in the industry. Tech companies are trimming staff and slowing hiring as they face higher interest rates and sluggish consumer spending in the US and a strong dollar abroad. The tech industry shed 9,587 jobs in October, the highest monthly total since November 2020, according to Challenger, Gray & Christmas Inc., a consulting firm that tallies job cuts announced or confirmed by companies across telecom, electronics, hardware manufacturing and software development. In recent earnings reports, Alphabet Inc., Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and others fell short of projections, sending shares plunging and shaving hundreds of billions of dollars from their market valuations. Meta, for instance, has lost more than 67%...
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Tech Job Cuts: Worst Offenders- Better, Verizon, Bird to Robbs
13Nov By adminNo Comments
Technology

Tech Job Cuts: Worst Offenders- Better, Verizon, Bird to Robbs

[ad_1] Some of the most infamous involve fire drills, early aughts text messages and pink slips for Christmas. Twitter Inc.'s mass layoffs have shocked onlookers and insiders alike, but it's not the first company — and won't be the last — to be seen as bungling the messy business of sacking staff.Since billionaire Elon Musk bought the social media platform for $44 billion, he fired close to 3,700 people, only to reach out to dozens soon thereafter to ask them to come back. Twitter didn't reply to a request for comment. All eyes are also on Meta Platforms Inc. as Chief Executive Officer Mark Zuckerberg announced more than 11,000 jobs will be slashed from payrolls. In addition to damaging productivity and morale, poorly handled layoffs can tarnish an employer's brand. When things turn a...
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