I was not familiar with the concept of “layoff” when I was in India. My father used to work in a jute mill and occasionally faced “lock outs” which meant that gates of the mill were locked by the company and no employee was allowed to enter the premises and work; they did not get paid either.
While layoffs in the global tech industry continue unabated, employers in the US are planning to budget less for salary raises next year, according to a new report.
Barclays reinforces its Indian team while downsizing globally, emphasizing commitment to the Indian market.
Online food delivery platform Swiggy's losses doubled to Rs 3,629 crore in FY22 compared to Rs 1,617 crore in the last fiscal year.
Google and Apple are the only Big Tech firms remaining that have not announced any mega job cut globally.
At least 853 tech organizations worldwide have fired around 137,492 workers as a result of the global economic crisis, and the number is rising as more businesses across the board cut staff.
Amid the Big Tech layoff season, the media and entertainment industry worldwide has also been hit with job cuts as advertisers reduce spending amid the global economic slowdown.
In the earnings report for its fourth quarter of 2022, the company said it expects to reduce gross global headcount by approximately 4,000-6,000 employees, which is between 7-11 per cent of its workforce.
Soon after Elon Musk, took over the microblogging site he had been making headlines for his ideologies to modify it.
Amazon CEO Andy Jassy has warned employees that there will be more layoffs at the company in early 2023 "as leaders continue to make adjustments". The e-commerce giant publicly confirmed some layoffs on Wednesday and now, Jassy has said more layoffs are coming as Amazon's annual planning process extends into the new year.
