Tag: layoffs

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut
6Feb By adminNo Comments
Technology

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut

[ad_1]  The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread layoffs last year. So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a startup that has been tracking job cuts in the industry since the pandemic. Snap Inc. became the latest example, announcing on Monday that it's reducing its workforce by about 10%, or around 540 employees. Earlier this month, software company Okta Inc. said it would eliminate 7% of its staff to reduce costs, affecting about 400 employees. The list goes on, including Big Tech employers like Amazon.com Inc., Salesforce Inc. and Meta Platforms Inc. This year, “tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the hig...
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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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5 things about AI you may have missed today: Google AI beats doctors, AI investment hit by surge in layoffs, more
13Jan By adminNo Comments
Technology

5 things about AI you may have missed today: Google AI beats doctors, AI investment hit by surge in layoffs, more

[ad_1] Tech industry faces layoffs surge amidst billions in AI investments; Google's AI outperforms doctors in diagnostic conversations; Executives exercise caution in gen AI investments amid societal pressures; SK telecom eyes global AI dominance through tech collaborations- this and more in our daily roundup. Let us take a look.1. Tech industry faces layoffs surgeThe tech industry, amid a surge in AI investments, is witnessing a wave of layoffs, surpassing 5,500 job cuts in the first two weeks of 2024. Google, Amazon, Discord, Unity Software, and Duolingo are among the companies reducing staff, with AI investments often cited as a reason. The ongoing labour upheaval suggests potential unrest as AI reshapes the business landscape in the coming years. In 2023, 262,682 tech layoffs were ...
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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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5 things about AI you may have missed today: ChatGPT flouts rules, Jio vows AI for everyone and more
28Aug By adminNo Comments
Technology

5 things about AI you may have missed today: ChatGPT flouts rules, Jio vows AI for everyone and more

[ad_1] Jio unveils plans for custom AI models for public and businesses; OpenAI's ChatGPT flouts political usage ban, raises concerns of misuse; Sensually designed AI chatbots pose complex challenges for fan communities; SpeechGen.io revolutionises AI text-to-speech with support for 150 languages - this and more in our daily roundup. Let us take a look.1. Jio unveils plans for custom AI modelsReliance Industries Limited (RIL) Chairman Mukesh Ambani has revealed plans to develop India-specific AI models and solutions across various sectors. At the 46th RIL AGM, Ambani emphasised the potential benefits of Jio's AI solutions for Indian citizens, businesses, and the government. Jio Platforms will enhance its talent pool to create tailored AI products for India, marking a new commitment to d...
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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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Big Tech Binged on Workers During Covid. Now, the Purge.
27Jan By adminNo Comments
Technology

Big Tech Binged on Workers During Covid. Now, the Purge.

[ad_1] The spate of layoffs is a reaction to a hiring wave during the pandemic that got out of hand. But will it be an overreaction? The layoff announcements coming lately from the chief executive officers of big technology companies all contain variations on the theme of “we hired too many people during the pandemic,” expressed with varying degrees of contrition. At one end of the spectrum are Seattleites Andy Jassy of Amazon.com Inc. and Satya Nadella of Microsoft Corp. Amazon's layoffs were simply an outgrowth of its annual review, Jassy wrote, although he did allow that “this year's review has been more difficult given the uncertain economy and that we've hired rapidly over the last several years.” Microsoft's Nadella opted for bland corporatespeak: “As we saw customers acceler...
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