Layoffs

On Tuesday, Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) both reported their latest quarterly results. But while Google-parent topped expectations across the board, Microsoft’s guidance fell short of expectations, overshadowing the fact its fiscal fourth...

On Monday, Microsoft Corporation (NASDAQ:MSFT) confirmed additional job cuts, following the 10,000 layoffs announced in January. The exact number of cuts in this latest round remains undisclosed. What Happened: The software giant is making further reductions to its workforce, a week into its 2024...

The Open Society Foundations, a nonprofit organization founded by billionaire George Soros, is planning to reduce its staff by at least 40% in the upcoming months, Bloomberg reports. This decision comes after the recent handover of control from George to his son, Alex Soros. Significant Changes...

UBS Group AG (NYSE:UBS) is reportedly planning to significantly reduce the workforce of the recently acquired Credit Suisse Group AG (NYSE:CS), with more than half of the employees facing potential layoffs. The planned layoffs are part of UBS’s strategy to cut back on the numbers at Credit...

Biotechnology company Illumina, Inc. (NASDAQ: ILMN) initiated layoffs within its research and development (R&D) team, affecting approximately 10% of that staff. These layoffs began late last Wednesday and impacted research teams at various locations, including San Diego and Foster...

Robinhood Markets Inc (NASDAQ: HOOD), is cutting about 7% of its full-time staff in response to a slowdown in customer trading activity and reduced customer engagement. As reported by the Wall Street Journal, the company is making these layoffs to adjust to volumes and align team structures....

Binance's U.S. affiliate, Binance.US, has reportedly conducted a series of layoffs following recent regulatory charges and asset freeze requests by the Securities and Exchange Commission (SEC). Quoting sources, Reuters reported that around 50 people have been laid off, with the affected...

In a surprising turn of events, while Elon Musk had unleashed a barrage of criticism toward Mark Zuckerberg, the Meta Platforms Inc. (NASDAQ:META) CEO praised the Tesla CEO.  What Happened: Musk, who bought Twitter for $44 billion in October 2022, didn’t hold back his ...

Automotive safety supplier Autoliv Inc (NYSE:ALV) said on Thursday that it will reduce both its direct and indirect workforce by about 11% in an attempt to cut costs. What Happened: Under the cost-cutting initiative, the company will cut about 6,000 direct positions and 2,000 indirect positions....

Recent layoffs in large tech companies such as Microsoft Corp (NASDAQ: MSFT), Amazon.com, Inc (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOGL) and others can have widespread implications, both within the tech industry and beyond.  In a piece for Insider that was...

The latest U.S. labor market report showed a remarkable rise in non-farm payrolls in May, with a surprising gain of 339,000. This marks the strongest pace of employment growth since January 2023. This surprising jump also bucked projections of a decline in job growth to 180-190,000...

A recession is coming in 2023. New job openings are the lowest they’ve been since April 2021, and layoffs are the highest they’ve been since December 2020. Preparation is essential. Here are 7 strategies you can use to withstand the recession: 1. Beef Up Your Savings If you...

This story was originally published on the Benzinga India portal. In the final phase of its three-part redundancy plan announced in March, Mark Zuckerberg-led Meta Platforms Inc (NASDAQ: META), the parent company of Facebook, Instagram and WhatsApp, laid off two senior...

This year did not start off great for many tech workers. After tens of thousands of layoffs in 2022, tech companies continued to shed workers in round after round of layoffs. Technology companies from Microsoft Corp. to Meta Platforms Inc. announced thousands of layoffs at the beginning of the year...

Amid an economic downturn and layoffs across tech industries, Apple Inc (NASDAQ: AAPL) CEO Tim Cook reiterated that mass layoffs are not part of the company's current plans.  Speaking with CNBC last week, Cook said that he views mass layoffs as...