In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.
Priscilla Chan has reportedly overseen the layoff of 48 employees from their philanthropic organization from the Chan Zuckerberg Initiative (CZI), which was established in 2015, and focuses on charitable endeavours.
The company's filing stated that the restructuring effort will encompass an 18% reduction in the workforce and will incur charges amounting to around $24-$32 million. While the decision might appear unexpected given the company's meeting of performance expectations.
Evernote plans to tap into the expertise and skills of Bending Spoons' workforce, comprising over 400 professionals, many of whom have actively contributed to the development of Evernote following the acquisition.
Online marketplace OLX Group is exiting its Olx Autos business and discontinuing operations in several countries, including Chile, India, Indonesia, and Turkey, as it seeks to optimize its operations and focus on local market sales.
BYJU's had announced cutting about 5 per cent of 2,500 employees over six months starting October 2022 as it unveiled the company's plan to become profitable by March 2023.
Oracle had acquired healthcare records firm Cerner for $28.4 billion. According to Insider, Oracle paused raises and promotions and "laid off thousands of employees in the unit" as recently as May after the acquisition closed in June last year.
Meta recently fired a number of employees across various levels, including teams in India. This latest layoff was expected to affect around 6,000 employees globally.
According to leading startup news portal Inc42, at least 160 employees from departments like sales, marketing, tech, product, and operations, have been asked to go by the platform.
The LinkedIn revenue increased 8 per cent in the March quarter for the tech giant. In 2016, Microsoft acquired LinkedIn for more than $26 billion. The company was also in the process of discontinuing product and engineering teams in China and downsizing corporate, sales, and marketing functions.
Tough time for people working in e-commerce companies, as Meesho has reportedly layoff around 250 employees, while Shopify is going to lay off 20 per cent of its workforce in the coming time.
Amazon Layoff: The e-commerce launched the original Halo Band in 2020 which they dissolved it. Amazon will fully refund purchases made in the preceding 12 months of Amazon Halo View, Amazon Halo Band, Amazon Halo Rise, and Amazon Halo accessory bands.
Disney Layoff: The upcoming layoffs are expected to start soon and they will be affecting the market across the country from California, Burbank, to New York and Connecticut.
Meta (formerly Facebook) kicked off a fresh round of layoffs this week, handing over pink slips to employees with technical backgrounds globally. The job cuts impacted people working in verticals like user experience, software engineering, graphics programming and other roles.
This week's layoffs could be in the range of 4,000 jobs, and Meta will also announce newly reorganised teams and management hierarchies, the report mentioned.
Amazon layoffs: Amazon CEO Andy Jassy acknowledged that some of the actions, like firing 27,000 employees, are tough, but the decision will be good for the business.
Owing to the strict labour laws in France and Germany, Google is speaking with works councils, organisations made up of elected employee representatives that communicate with management about issues affecting the workforce.
A new complaint has been filed against Elon Musk’s Twitter, accusing the social media company of illegally terminating contract workers without warning.
As part of an updated business plan, the fast-food company declared that it will be reconsidering its corporate employment levels. This review could result in layoffs in some areas, while other areas could experience expansion.
This move by Disney comes amid a retrenchment in the entertainment industry, which initially embraced video streaming with great enthusiasm. Established media companies incurred significant losses as they launched competitors to Netflix Inc.
Top News
Latest News
