SpiceJet to lay off 15 per cent of workforce, save Rs 100 crore annually
Business | February 13, 2024 8:56 ISTCurrently, the airline operates with around 9,000 employees and maintains a fleet of about 30 planes.
Currently, the airline operates with around 9,000 employees and maintains a fleet of about 30 planes.
Snap's parent company, Snap, is reducing its workforce by 10%, which means around 530 employees will be laid off. Here's everything you need to know.
Deutsche Bank said the reduction in the number of positions would mostly be for jobs that don't involve directly dealing with customers.
Salesforce is cutting around 700 jobs, around 1 per cent of its workforce, marking a trend in the tech industry where companies like Google and YouTube are also making layoffs in 2024.
Flipkart is reportedly letting go of 1,000 employees, around 5 per cent of its workforce, after a year of freezing hiring and not providing salary increments.
eBay is letting go of 1,000 employees (9 per cent of its workforce) to make the company more efficient, despite making a profit, and similar changes are happening in other big companies too.
Google CEO Sundar Pichai alerts employees about upcoming job cuts as part of the company's restructuring, aiming to simplify operations and drive progress toward ambitious goals.
Google has announced layoffs impacting 1,000 employees, offering support for affected individuals to re-apply for positions and providing transition assistance.
Last month, Twitch, headquartered in San Francisco, exited the South Korean market amid high costs associated with network fees.
Amazon has been pulling up to lay off hundreds of employees in its Prime Video and MGM Studios segment. The company has started notifying the workers in the US and will inform most of the region by the end of this week.
About 120 employees have been fired after a performance review. According to media reports, this is the first reported instance of layoffs at ed-tech startup Physicswallah.
Amazon layoffs: Amazon has recently carried out another round of layoffs, impacting employees working in its audio streaming service, Amazon Music.
Byju's news: According to TechCrunch, Byju’s will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed Initial Public Offering (IPO) and pressure from lenders.
Mobile Premier League (MPL)- an online gaming platform is reportedly reducing its workforce by approximately 50%, affecting around 350 jobs. This decision follows the 51st GST Council meeting's decision to uphold a 28% tax on the total value generated from online gaming.
In January, Microsoft laid off 10,000 employees, which accounted for about 5% of their total workforce. The CEO of Microsoft, Satya Nadella, mentioned in a blog post that even though the company was reducing jobs in certain areas, it still planned to hire new employees in other important areas.
The widespread job cuts in the global tech industry, including in India, show how the changing economy is affecting companies. To overcome these challenges, businesses are focusing on restructuring and improving their operations to keep growing in a fast-paced and ever-changing world.
The move comes as a cost-cutting measure by the parent company, Walt Disney Co. The layoffs were the second over the past nine months, and the fourth since a series of ownership changes began in 2015.
Since the beginning of the epidemic, the company has reduced its employees by 17 per cent.
The layoffs will affect Meta's business departments and could affect thousands of employees, reports Vox.
Speaking on the matter, Margherita Della Valle, Group Chief Executive, said that their performance has not been good enough.
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