layoff

In recent news, Block, the parent company of Tidal, Square, and CashApp, is preparing for another wave of job cuts, as confirmed by CEO Jack Dorsey. What Happened: Business Insider reported on Dec. 6, 2023, that Dorsey had shared with staff in a letter that the company would be undertaking “...

Spotify’s (NYSE:SPOT) CEO, Daniel Ek revealed a major restructuring plan for the company which will result in a workforce reduction of around 17%. What Happened: The announcement came to light earlier today when Ek issued a note to all employees. Ek stressed that for Spotify to grow as a...

In an unexpected turn, TikTok’s parent company, ByteDance Ltd. is preparing to bid farewell to the gaming industry by shutting down its principal brand, Nuverse, and eliminating hundreds of jobs. This decision puts its competitor, Tencent Holdings Ltd., in a more advantageous position. What...

Major changes are on the horizon at Citigroup Inc. (NYSE:C), as employees prepare for an extensive restructuring that includes significant layoffs and a senior management reshuffle, expected to be announced on Monday. What Happened: Reuters reported that the anticipated restructuring at...

In a surprising move, Google (NASDAQ:GOOGL) (NASDAQ:GOOG) has laid off dozens from its news team this week. This decision comes at a time when the role of online platforms in battling misinformation is increasingly under scrutiny. While the Google spokesperson confirmed the layoffs, they did not...

Ledger CEO Pascal Gauthier announced the company will trim 12% (almost 80 employees) from the ranks of its more than 700 employees. The Paris-based, crypto security company will consider local employment laws related to employees' departure. What Happened: “Macroeconomic...

Meta Platforms Inc. (NASDAQ:META), led by Mark Zuckerberg, has reportedly been preparing to lay off employees in its metaverse-oriented silicon unit, Reality Labs, with the announcement expected on Wednesday. What Happened: On Tuesday, employees at Meta’s Reality...

In October last year, when Elon Musk acquired Twitter, now rebranded as X, for a staggering $44 billion, few could have foreseen the storm that would follow: the controversial firing of 85% of the social media giant’s staff, leaving many questioning whether the tech...

Relic Entertainment Inc., the Canadian video game developer owned by Sega Sammy Holdings Inc. (OTC: SGAMY), announced the layoff of 121 employees. The Vancouver-based company becomes the latest addition to the growing list of tech companies initiating significant layoffs, a concerning...

Swedish telecom equipment maker Telefonaktiebolaget LM Ericsson ADR (NASDAQ: ERIC) will lay off 8,500 employees globally as part of a cost-cutting measure.  Reuters reports that layoffs are predicted to affect North America and would be the largest to hit the telecom...

Facebook parent company Meta Platforms Inc (NASDAQ: META) is preparing for a fresh round of job cuts, and it has delayed finalizing the budgets of multiple teams, according to the Financial Times.  Over the past few weeks, the company has not provided necessary clarity...

Twitter laid off thousands of workers in November 2022 in departments across the company, a move justified by its CEO Elon Musk. Then in January, the company laid off employees responsible for global content moderation.  Amidst the job cuts, several Twitter employees have...

As many tech giants have been executing an unprecedented level of layoffs, Apple Inc (NASDAQ: AAPL) has managed to avoid major job cuts even though it missed expectations for several of its lines of business announced during its first-quarter earnings. The iPhone maker announced its first quarterly...

Meta Platforms Inc (NASDAQ: META) CEO Mark Zuckerberg is hinting at possible additional layoffs, after the social media giant announced 11,000 job cuts, or 13% of its total workforce, last November.  According to a recent report by the Command Line newsletter...

After closing the $44 billion Twitter Inc (NYSE: TWTR) buyout, Elon Musk's stance on Twitter employees is anticipated to be one of the most significant steps as he takes over the company. A report suggests he has no plans to cut staff, but he did not explicitly rule out layoffs. ...