Tag Archives: restructuring

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.

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.

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.

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.

In a move that has sent ripples through the tech industry, International Business Machines Corp (IBM) has reportedly initiated layoffs within its marketing and communications division. The decision, disclosed in a brief seven-minute meeting by Jonathan Adashek, IBM's Chief Communications Officer, has left many employees grappling with uncertainty.

As the technology landscape continues to evolve, major players are making strategic moves to adapt to changing market dynamics. In line with this trend, multinational network corporation Cisco has announced its decision to implement layoffs as part of a restructuring program aimed at focusing on "high-growth" areas.