Payment processing giant Visa is reportedly planning to lay off around 1,400 employees and contractors by the end of the year, according to a report by the Wall Street Journal (WSJ).The WSJ report, citing sources familiar with the matter, indicates that roughly 1,000 of the job cuts will be from the technology sector. This is…
Nokia has reportedly laid off 2,000 employees or about a fifth of its employee base across Greater China. The move is part of efforts to lower costs as the Finnish company struggles with a sluggish telecom equipment market, reports Reuters citing a person familiar with the matter. In addition, the company is planning to cut…
FILE PHOTO: FILE PHOTO: llustration taken January 8, 2024. REUTERS/Dado Ruvic/File Photo/File Photo Intel has begun implementing mass layoffs that it announced back in August, impacting more than 2,000 jobs across several US states. The company says these workforce reductions are part of its broader cost-cutting measures. Employees in Oregon, Arizona, and these other US…
Chinese surveillance camera maker Hikvision is reportedly downsizing its research and development (R&D) department. The company that faces US sanctions may be planning this move amidst geopolitical and economic pressures. Although the company denies any “large-scale lay-offs,” a report by Chinese online news platform Sina Tech (seen by the South China Morning Post) cited sources…
Amazon may eliminate approximately 14,000 manager positions by early 2025, potentially saving up to $3 billion per year, according to a recent Morgan Stanley analysis. This move aligns with CEO Andy Jassy‘s goal to increase the ratio of individual contributors to managers by at least 15% by the end of Q1 2025.Jassy aims to increase…
Tech companies job cuts have continued in the second half of 2024, with several major layoffs occurring across the industry. IBM initiated a new round of layoffs, primarily affecting senior programmers, sales, and support personnel, as part of their “workforce rebalancing” effort. Microsoft laid off 650 employees from its gaming division, focusing on corporate and…
General Motors is laying off more than 1,000 salaried employees globally in its software and services division, the company confirmed on Monday. The job cuts, which include about 600 positions at GM’s tech campus near Detroit, come as part of a review to streamline operations in the unit.“As we build GM’s future, we must simplify…
The wave of tech industry layoffs persisted through July 2024, with over 8,000 professionals across 34 technology companies lost their jobs this month. The total layoff count for 2024 has now reached 124,517 employees from 384 companies worldwide. Intel mass layoffs, over 15,000 employees to let go Intel is laying off over 15,000 employees, representing…
Job industry is experiencing layoffs across industries around the globe. In India, large new-age companies like Swiggy, Ola, Paytm and others have cut down their workforce since January 2024. Here we compile list of India firms that have laid off their employees Simpl fired around 25% of its workforce Simpl, a buy now pay later…
While the tech industry experienced layoffs throughout 2024, May saw a notable decrease compared to previous months. According to layoffs.fyi, a website tracking global job cuts, 39 companies laid off a total of 9,742 employees in May. This represents a significant drop from April’s reported 21,473 layoffs across 50 companies. Google cut jobs in core…
