Dive into the tech & future
Facebook-parent Meta Platforms is planning a fresh round of job cuts in a reorganisation and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday. Last year, the social media company let go 13 percent of its workforce — more than 11,000 employees — as it grappled with soaring costs and a weak … Read more
It’s hard to feel sorry for Silicon Valley tech workers. From high salaries and generous stock options to nap pods and unlimited time off, they’re among the most privileged class of employees in the world. Conversely, there’s no denying that these pampered staffers engineered a technology revolution that’s brought untold economic and social value to … Read more
Over-hiring, uncertain global macro-economic conditions, strong tailwinds from the Covid-19 pandemic and more forced several tech companies to cut jobs at the end of 2022. The mass layoffs at these companies have also continued in 2023. Moreover, the first month of this year is said to be the worst one for tech workers. According to … Read more
PayPal Holdings Inc. said it will cut 2,000 staffers as it contends with a macroeconomic slowdown that’s weighed on the firm’s business in recent quarters. The cuts, which will affect about 7% of employees, will take place in the coming weeks, Chief Executive Officer Dan Schulman told employees in a memo. “While we have made … Read more
Sweden-based music streaming company Spotify has announced job cuts that will apply to 600 employees across the globe. According to a report by IANS, this change will reduce the company’s workforce by 6%. Spotify CEO Daniel Ek has shared a memo to announce the latest layoffs. The latest layoffs are in line with the previous … Read more
Spotify Technology SA is planning layoffs as soon as this week, according to people familiar with the plans, joining a slew of technology companies from Amazon.com Inc. to Meta Platforms Inc. in announcing job cuts to lower costs. The number of positions to be eliminated wasn’t specified by the people. Spotify laid off 38 staff … Read more
As the global economy slows down companies have been laying off employees left, right, and centre. On top of that, the FTX scandal has made things especially hard for crypto companies that have laid down a sizeable chunk of their staff. Joining the list, Crypto.com recently fired around 20% of its employee base.This is the … Read more
The layoffs at global financial services company Goldman Sachs have come to India. Several impacted employees have shared posts on social networking website LinkedIn and microblogging platform Twitter about the same. Job cuts at Goldman Sachs are expected to affect more than 3,200 employees or about 6.5 per cent of its workforce. Here are some … Read more
NEW YORK: Layoffs that began in 2022 are accelerating across some technology companies. The tech industry is slashing jobs at a pace nearing the early days of the Covid-19 pandemic. In November, the most recent month for which data is available, the sector announced 52,771 cuts, for a total of 80,978 this year, according to … Read more
Technology companies as big as Facebook, Amazon, Snapchat, Intel, Netflix and others have cut jobs in 2022, with some citing the effects of the COVID-19 pandemic and others pointing to overhiring during periods of rapid growth. After a holiday lull, more layoffs are around the corner and several companies across the spectrum, led by tech … Read more