Diabytes
Layoffs 2023 News
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The report said, around 168,032 employees were laid off in 2023 with 73% increase from the last year.
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Facing a downturn in sales over the past year, Nike disclosed that the layoffs are a response to the need for organizational streamlining.
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Reports from the Economic Times highlight that this series of layoffs, which have occurred over the past few months, is impacting over 10 percent of Paytm's entire workforce.
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One employee, who spoke to Moneycontrol on condition of anonymity, said that the layoffs were conducted randomly, with no written communication provided to affected employees.
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In a message to the staff, Spotify's CEO Daniel Ek explained the job cuts as a measure to align the company's growth with capital costs.
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Ek acknowledged the impact on individuals who have contributed significantly to the company, stating, "To be blunt, many smart, talented, and hard-working people will be departing us."
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“Byju's new India CEO, Arjun Mohan, will be completing this process in the next few weeks and will steer a revamped and sustainable operation ahead,” the spokesperson added.
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The company in November 2022 announced to slash about 5 percent of its workforce, around 4,000 jobs.
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According to Liu, Airtable was caught up in the hiring frenzy that swept the tech world following the easy-money days that followed the COVID-19 lockdowns of 2021.
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“In order to continue our important work to ensure we operate efficiently, we’ve made the hard decision to reduce the size of our recruiting team,” a company spokesperson was quoted as saying in the report.
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The workforce reduction is expected to impact approximately 10 percent of the company’s employees.
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Ian Dodd, 55, former global head of recruiting at Goldman Sachs International, is suing the bank for one million pounds in London, according to court documents seen by the Financial Times.
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In addition, the layoffs come almost a year after Malwarebytes eliminated 14 percent of its global workforce.
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"These will be go-to-market roles in order to simplify our client engagement approach and better support our business strategy," the company
added.
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Ravisankar wrote that the company’s financial performance “has not been good for quite some time” and “every one of us is trying super hard to turn it around and it's been a frustrating endeavour”.
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In May, the company had laid off about 100 employees to improve efficiencies amid a worsening global landscape for K-12 edtech.
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The massive wave of layoffs has shut down hundreds of thousands of workplaces, turning 2023 into the worst year the tech industry has ever seen, according to data by AltIndex.com.
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An Ex-employee of Dell Technologies has shared a heartfelt reflection.
Dell Technologies is planning to fire members of its key sales team: Reports.
It is not yet known if these layoffs are in addition to or a part of the over 6,500 job losses that the company announced earlier in February.
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Co-founder Jain went on to say that the corporation understands the laid-off workers' plight and has faith in their capacity to succeed elsewhere.
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