Latest downsizing HR Trends, workforce insights, and expert analysis. Stay updated with the latest news on downsizing.
As the contract between Cognizant and Google came to an end, YouTube Music employees who were subcon...
PlayStation maker Sony Interactive Entertainment will lay off overall headcount globally by or ab...
After two years of massive layoffs in IT and Tech companies, job cuts yet continue and are expected ...
Mozilla & BlackBerry to collectively layoff 260 employees. Mozilla Corp, the developer of the web browser Firefox, is implementing a reorganization resulting in approximately 60 job cuts. “We’re scaling back investment in some product areas to focus on areas that we feel have the greatest chance of success,” Mozilla said in a statement. “We intend […]
According to the reports of the ET, An Indian low-cost airline, SpiceJet will sack nearly 1400 employees to save costs. However, according to company statements, “There aren’t any funding delays and we are progressing well with our fund infusion and have already made our public announcements accordingly,” the spokesperson said. “We will be making additional […]
Like 2023, 2024 started on a layoff note. The leading tech giants have sacked many employees. This year in January month itself, nearly 176 layoffs were reported by tech companies, and 38,003 people were laid off @1,267 people per day. In 2023, most of the layoffs were because of overhiring in the Pandemic and tech companies were right-sizing […]
An AI-based writing assistant, Grammarly to layoff nearly 230 employees as a part of Restructure Business to Align With Company Strategy and Accelerate Growth. Grammarly has spent the last 15 years building and improving AI-powered writing assistance for millions worldwide. Over the past five years, the company team has grown from 200 to 1,000 team members […]
An American multimedia instant messaging app, Snap said that the company will sack 10% of its global workforce which is nearly 500 employees. Snap had some 5,367 full-time employees as of October 2023. In August 2022, The company laid off 20% of its employees. As per the reports of the CNN Snap spokesperson said, “The cuts were done […]
One of the world’s leading financial services providers, Deutsche Bank plans to reduce approximately 3,500 jobs, mainly in non-client-facing areas. The layoffs are nearly under 4% of its global workforce of about 90,000. The bank has set a goal for a quarterly run-rate of adjusted costs of € 5 billion and aims to operate with total […]
An American multinational financial technology company, PayPal has announced to sack 9% of its workforce, eliminating 2,500 jobs from its global offices. These job cuts will be carried out throughout the year with existing roles and job listings that Fintech major had planned to hire this year. The affected employees will receive a notice by […]
As per the reports of the ET, India’s IT services provider company, Wipro to sack hundreds of mid-level employees to improve margins Wipro currently maintains the lowest profit margins among the top four IT services companies listed in India. Below is the comparative Net Profit in crore Company Q1FY24 Q2FY24 Q3FY24 TCS 11,074 11,342 11,058 […]
So far in 2024, there have been 176 layoffs at tech companies with 38,003 people being laid off (1,267 people per day). In 2023, there were 1,996 layoffs at tech companies with 428,384 people impacted (1,174 people per day). In 2023, most of the layoffs were because of overhiring in the Pandemic and tech companies were right-sizing the headcounts, and some microeconomic situations. And, in early […]
As per media reports, Walmart-owned, Flipkart to sack around 5 percent of its total workforce, which constitutes about 1,000 employees, as part of its annual performance review exercise. Media reports also suggest that the company undertakes these performance-based job cuts every year and these fresh layoffs are just a regular process. Recently, Kalyan Krishnamurthy, CEO […]
Unlike other tech companies, an American multinational e-commerce company, eBay has announced a reduction of 9% or approximately 1,000 roles. While announcing the layoffs the company said, “Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control.” “While we are making progress against our strategy, our […]
A German multinational software company, SAP has announced its restructuring plan for 2024 that will impact 8000 jobs, 7.4% of SAP’s total workforce. SAP will implement a company-wide transformation program including restructuring for 2024. In addition, the company is updating its ambition for 2025. In 2024, SAP will further increase its focus on key strategic growth […]
