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.
Read More »Kissflow Implements Workforce Reduction, 15% Staff Laid Off with Transition Support
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.
Read More »Paytm Announces Layoffs Amid Restructuring, Offers Bonuses to Employees
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.
Read More »Paytm to Cut 5,000-6,300 Jobs Due to Financial Struggles : Report
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.
Read More »“Microsoft Trims Costs with Layoffs and Studio Closures in Xbox Division Restructuring”
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.
Read More »“Elon Musk’s Tesla Layoffs: Indian-Origin Employee Describes it as a ‘Significant Transition'”
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.
Read More »McKinsey Announces Global Layoffs, 360 Jobs Impacted as Demand Slows
Global consulting giant McKinsey & Co. has unveiled plans to cut nearly 360 jobs worldwide, affecting about 3% of its specialist and technically-skilled workforce. This move comes as McKinsey adjusts its capabilities to align with shifting client priorities amid a slowdown in demand for its services.
Read More »“Byju’s Begins Layoffs Through Phone Calls, No Notice Period Given to Staff”
Edtech giant Byju's has reportedly initiated layoffs via phone calls, opting to release employees without putting them through a performance improvement plan (PIP) or requiring them to serve a notice period. The company's decision has raised concerns and drawn attention to the impact on affected staff.
Read More »“Zee Cuts 50% of Bengaluru Tech Staff in Layoffs”
In a significant move, Zee Entertainment has initiated a substantial workforce reduction by laying off 50% of its tech team at its innovation centre in Bengaluru. This decision follows the company's failed merger discussions with Sony and is part of broader cost-cutting measures.
Read More »“Paytm Dismisses Layoff Claims Amid RBI’s Payments Bank Action”
Paytm, the popular online payments platform, has refuted recent reports claiming a significant reduction in its workforce by 25-50%. The company has dismissed these reports as 'baseless' and clarified that it is currently engaged in its annual appraisal process, which is a routine practice and not indicative of layoffs.
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