Attrition
Mastercard plans to lay off 1,000 staff by end of September
Mastercard plans to lay off 1,000 staff by end of September
General Motors cuts 1,000 jobs from its global workforce.
General Motors cuts 1,000 jobs from its global workforce.
Cisco to lay off thousands more in its second employment cut this year
Cisco Systems is reportedly preparing for a second round of job cuts this year. This move comes as the company shifts its focus to high-growth areas such as cybersecurity and artificial intelligence. Earlier in February, Cisco laid off about 4,000 employees. This time, the company is also planning to let go of thousands of employees. Sources suggest that the upcoming layoffs may be on par with or even exceed the previous round. The announcement is expected to align with Cisco’s fourth-quarter results. Cisco, which had around 84,900 employees as of July 2023, has been facing reduced demand and supply- chain issues in its core business of routers and switches. In response, the company is diversifying, including a $28 billion acquisition of cybersecurity firm Splunk, in March, to boost its su...
Dell restructuring causes at least 12,000 job layoffs
Dell restructuring causes at least 12,000 job layoffs
ShareChat cuts 5% roles amid 16 million debt financing
ShareChat cuts 5% roles amid 16 million debt financing
Lion Electric lays off 10% of workforce
Lion Electric lays off 10% of workforce
Paramount to reduce 15% of its roles in the United States.
Paramount to reduce 15% of its roles in the United States.
Deutsche Bahn announces massive job cuts, letting away 30,000 by 2029.
Deutsche Bahn (DB) has announced a significant restructuring plan that includes cutting approximately 30,000 full-time jobs over the next five years. This decision comes after the company reported a €1.2 billion loss in the first half of the year, citing recent strikes, major construction projects, and extreme weather conditions as the primary causes. In addition to the job cuts, the company also plans to close unprofitable divisions, particularly in rural and economically weaker regions. Specific railway lines are reportedly targeted for closure as well. The German government, which owns Deutsche Bahn, is pushing for the company to become more economical and competitive. However, there are concerns about the impact of these changes. Extensive job cuts may affect work processes, increase w...
Intel will lay off 15,000 people as the chipmaker attempts to rebuild its business.
Intel is making significant efforts to reduce costs, including a plan to reduce its workforce by at least 15 percent. This could mean laying off over 15,000 employees, resulting in an estimated cost savings of around $10 billion by 2025. The company, which currently has a workforce of at least 125,000, estimates that the headcount reduction could impact up to 19,000 employees. In addition to the layoffs, Intel is also planning to cut spending in research and development, as well as marketing, by billions annually for the next two years. The company will reduce capital expenses by 20 percent this year, discontinue “non-essential” work, and review ongoing projects and existing equipment to eliminate unnecessary expenditure. This downsizing was announced to employees via an intern...
Disney Entertainment Television to let go 2% of the workforce
Walt Disney is laying off employees in its television unit. This will result in a reduction of two percent of the workforce at Disney Entertainment Television, which is about 140 employees. National Geographic will also see a reduction in its team by 13 percent. The layoffs are a cost-cutting measure and will impact ABC-owned television stations, Freeform (the cable channel), Disney’s linear networks, unscripted, marketing, and publicity. National Geographic will experience the highest number of job cuts, with about 60 roles being eliminated. The cable network industry is facing declining viewership, and the streaming business has become increasingly competitive. Disney’s CEO, Bob Iger, announced the plan to streamline operations in February 2023 amid economic uncertainty and pressur...
Nike’s difficult year intensifies as job layoffs exceed estimates
Nike is facing a tough year, and recent government filings reveal that the company has seen more job cuts than expected. Reports submitted to the SEC on July 25th showed that Nike’s workforce has reduced by 4,300 employees compared to the previous year, exceeding the approximately 1,600 layoffs announced in February 2023. Initially, Nike had planned to cut two percent of its staff, but the filings show that its workforce is now five percent smaller than it was last year. This significant reduction has had a notable impact on Nike’s operations and stock performance. The recent job cuts have particularly affected top-level employees, with 40 percent of the cuts impacting vice presidents, directors, or senior directors, totaling 318 out of 700 job losses. Furthermore, Nike’s stock...
Manchester United faces massive layoffs as the club undergoes an overhaul
Manchester United faces massive layoffs as the club undergoes an overhaul