Tag Archives: Layoffs

YesMadam, an at-home beauty services startup, has responded to growing social media speculation following the circulation of a viral email that suggested the company had fired employees who expressed stress in an internal survey. The beauty services company issued a statement on LinkedIn, apologizing for the distress caused by the controversy and clarifying that no employees were terminated.

Ola Electric, the electric vehicle (EV) company led by Bhavish Aggarwal, has announced plans to lay off at least 500 employees as part of a significant restructuring initiative aimed at improving operational efficiency and addressing mounting losses. The company, which has faced controversies, including a government probe and consumer complaints, is making the move to cut redundancies and streamline its workforce in an effort to drive profitability.

In a bid to boost employee morale following a significant reduction in workforce, Intel has decided to reinstate free coffee and tea for its staff. The tech giant had previously halted several employee perks, including free beverages and fruits, as part of broader cost-cutting measures.

Sharan Hegde, the CEO of the financial literacy company 1% Club, has come under scrutiny following the announcement of a 15% workforce reduction. The layoffs have sparked debate, particularly given Hegde’s status as a prominent financial influencer, known for his career built around financial education and promoting sound money management.

Samsung Electronics is set to lay off more than 200 executives across various functions in its Indian operations, according to reports. The decision comes in response to a slowdown in business growth and declining consumer demand, which have adversely affected the company's sales performance in the region.

Kissflow, a Chennai-based Software-as-a-Service (SaaS) firm specializing in cloud-based work management products, has recently undertaken a workforce reduction, resulting in the layoff of approximately 15% of its employees. This decision comes in the wake of product realignment and routine performance evaluations.

Paytm's parent company, One97 Communications Limited (OCL), has announced layoffs as part of its ongoing restructuring efforts. In a recent statement, the company confirmed that it is providing outplacement support to affected employees to ensure a smooth transition. The company's human resource teams are actively collaborating with over 30 companies currently hiring, facilitating immediate outplacement for employees who have chosen to share their information.

Paytm's parent company, One97 Communications, is reportedly planning significant job cuts amid financial challenges. The company may reduce its workforce by 15-20%, which translates to around 5,000-6,300 employees, in an effort to reduce employee costs by ₹400-500 crore this fiscal year, according to a report by the Financial Express.

Microsoft's Xbox division is undergoing significant changes as the company consolidates teams, closes multiple gaming studios, and implements layoffs in a bid to cut costs and streamline operations amidst a slowdown in the gaming sector.

Tesla, led by Elon Musk, has initiated a round of layoffs that includes two senior executives and nearly 500 employees in the Supercharger team, signaling a significant transition within the electric vehicle (EV) maker. Among those impacted is an Indian-origin woman who shared her experience on LinkedIn, describing it as a "significant transition" for herself and her team.