"We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired," CEO #MarkZuckerberg said in a message to staff. #Meta #Layoffs #Layoffs2023

Read here: https://www.livemint.com/news/world/meta-to-fire-another-10-000-employees-in-second-round-of-layoffs-11678799551469.html

Earlier in November 2022, the company had fired 10 percent of its workforce or about 350 employees in third such round of #layoffs within a year.

Read here: https://www.livemint.com/news/india/unacademy-to-cut-12-jobs-in-fresh-round-of-layoffs-report-11680151637356.html

#Dunzo has announced that it will cut its workforce by 30%, resulting in almost 300 #layoffs.

The grocery delivery platform has also secured funding worth $75 million, with Google & Reliance Industries believed to be among the investors, as per media reports. #Layoffs2023

Read here: https://www.livemint.com/news/india/dunzo-lays-off-30-of-its-workforce-while-securing-75-million-funding-reports-11680760637457.html

#Google CEO Sundar Pichai suggested during a recent interview that the company may face a second wave of #layoffs.

He discussed the company's ambitious goal of increasing productivity by 20%, which he hopes to achieve by September.

https://www.livemint.com/news/google-ceo-hints-at-possible-downsizing-here-s-what-he-says-11681378492847.html

According to media reports, David Risher, #Lyft's newly appointed CEO & former Amazon executive, sent an email to the company's staff on Friday informing them about the upcoming #layoffs.

Read here: https://www.livemint.com/news/lyft-to-lay-off-significant-number-of-employees-citing-cost-cutting-measures-reports-11682309478489.html

Entertainment giant #Disney has begun its third round of #layoffs and is expected to handover pink slips to over 2500 employees, IANS has reported citing media reports.

https://www.livemint.com/news/disney-layoffs-3rd-round-of-layoffs-begins-2500-employees-likely-to-be-handed-pink-slips-report-11684827671112.html

#Meta Platforms Inc started carrying out the last batch of a three-part round of #layoffs on Wednesday, as part of a plan announced in March to eliminate 10,000 roles.

https://www.livemint.com/news/world/facebook-owner-meta-starts-final-round-of-layoffs-11684929934354.html

With massive #layoffs, large number of Indian IT professionals, who are on non-immigrant work H-1B visas scramble for options to stay back in the country.

https://www.livemint.com/news/meta-layoffs-indian-h-1b-visa-workers-scrabble-for-jobs-amid-fresh-round-of-job-cuts-11685067826746.html

A study finds that high-performing employees were more affected by #layoffs than low performers.

https://www.livemint.com/specials/when-employees-leave-a-company-others-often-follow-11686409674308.html

The ramifications of the tech sector #layoffs extend to remittance flows, considering that 36% of #India's remittances can be attributed to highly skilled migrants primarily in three high-income destinations: the #US, #UK and #Singapore.

Read here: https://www.livemint.com/economy/remittances-to-india-fall-in-2023-on-us-tech-layoffs-11686937043396.html

Despite the pullback by tech giants and other white-collar #layoffs, many small and large employers have been hiring at a rapid clip this spring, keeping the U.S. unemployment rate near historic lows.

https://www.livemint.com/specials/want-a-job-that-pays-200-000-see-how-much-the-biggest-companies-pay-11687170845100.html

#Byju's has undertaken a fresh round of #layoffs affecting more than 400 staffers from the mentoring and product expert division.

Employees placed under performance review last month were reportedly asked to resign on August 17.

Read here: https://www.livemint.com/companies/news/byjus-layoff-staffers-asked-to-resign-voluntarily-after-performance-review-says-report-11692356966461.html

Intel reportedly plans #layoffs in the US, cutting 89 jobs in Folsom and 51 in San Jose, as part of cost reduction efforts following previous losses.

The layoffs, affecting various engineering and software roles, are set to take effect by month-end.

Read here: https://www.livemint.com/companies/intel-jobs-cut-company-reportedly-reduces-work-force-and-shifts-towards-hybrid-first-mode-11692598017946.html

#Tesla, has initiated a significant reduction in its workforce," tech publication Electrek reported on May 6.
The #layoffs impact the software, service, and engineering departments, signaling a major shift in the company's operational strategy.

Read here: https://www.read.ht/SatY

#Microsoft has announced another round of #Layoffs this week, according to a report. The tech giant's layoffs are part of its ongoing efforts to streamline its workforce.

Read here: https://www.read.ht/Sb2z

📉 Google offers ‘supportive exit path’ to employees — resign with 14 weeks' pay, bonuses & benefits. Workforce trim spans multiple divisions.

📺 Watch for more!
https://www.youtube.com/watch?v=DwhI314EgmE

Meta, in a restructuring of its Reality Labs division, has initiated job cuts which are expected to impact over 1,000 employees. According to Bloomberg, the employees were notified of the layoffs starting Tuesday morning.

Watch for more!
https://www.youtube.com/watch?v=u9Adl3nbRE0

“Unfortunately, your role has been eliminated as part of today’s reorganization…” — the email thousands of Meta employees woke up to at 4 AM.

As part of its latest restructuring, Meta is cutting nearly 8,000 jobs, around 10% of its global workforce.

Watch!
https://www.youtube.com/watch?v=Eozugxg3DtY

Visa's latest round of artificial intelligence-fuelled layoffs, affecting nearly 2,600 employees, has extended well beyond junior and mid-level employees. In July 29, several employees woke up to emails from the human resources team informing them that their jobs had been cut as the payments giant restructures its operations to focus on artificial intelligence.

Read More: https://www.livemint.com/companies/news/visa-layoffs-senior-executives-earning-up-to-4-36-crore-among-2-600-employees-affected-11785926046223.html

#Visa #Layoffs #AI #ArtificialIntelligence

Oracle has begun a fresh round of layoffs in India, with employees across teams receiving termination notices as the technology major continues its cost-cutting drive. Employees have described sudden termination emails and immediate loss of access to company systems, with some saying they had no indication that their jobs were at risk.

Watch: https://www.youtube.com/watch?v=4qdjovpaAwY