The Los Angeles Times is reducing its newsroom by 20%, CNN writes, or about 100 positions.Used-car company Vroom is laying off 800 workers, or 90% of its workforce, and shutting down its e-commerce operations, Pymnts writes.EBay is laying off 1,000 workers, or 9% of its full-time employees, and reducing its contractors to save money, Bloomberg reports.SAP employed about 108,000 people at the end of 2023. German software company SAP is laying off 8,000 jobs as part of a restructuring, CNBC reports. TIME magazine also laid off 15% of its editorial staff, or roughly 30 people across departments like editorial, technology and sales, CNN writes.Business Insider is cutting 8% of its workforce in order to "refocus," according to an email obtained by a Semafor reporter.Paramount CEO Bob Bakish said the company would reduce its workforce by an unspecified amount in order to manage costs, CNBC says.Levi Strauss is cutting up to 15% of its corporate workforce amid disappointing profit forecasts, MarketWatch reports.Salesforce is laying off 700 people, The Wall Street Journal reports citing anonymous sources, one year after it cut 8,000 jobs from its roughly 70,000-person workforce.REI is laying off 357 workers this week in areas like its headquarters and distribution centers, KIRO 7 News writes.Jamf, an Apple device management software company, is laying off 6% of its full-time employees in order to cut costs, 9To5Mac says.The software giant completed its acquisition of Activision Blizzard for $68.7 billion last fall. Microsoft has laid off 1,900 Activision Blizzard, Xbox and ZeniMax employees, or about 8% of its 22,000-person gaming division staff, The Verge reports.And if pandemic overhiring was to blame for last year’s reductions, investor pressure and the pivot toward artificial intelligence appear to be driving this year’s layoffs. Across the hard-hit tech and media sectors, the concentrated nature of the cuts makes the pain “not just bigger, but deeper,” writes Quartz. These concerns were borne out in January, with job cuts accelerating to their highest clip since March 2023 - even as some firms notched blockbuster earnings and valuations soared. As the year began, 85% of workers said they feared being laid off in 2024.
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