attrition

Meta is focused on building a workforce composed solely of high performers. The company plans to lay off 3,600 employees who have not met performance expectations, intending to replace them with new hires. This decision, announced by CEO Mark Zuckerberg, will impact five percent of Meta’s workforce of 72,400 employees, according to a report by Bloomberg. The specific numbers of affected employees in the U.S. versus those outside the country have not yet been officially disclosed. Zuckerberg aims to ensure that the company retains and attracts only top-quality talent. Traditionally, poor performers have been let go gradually over the course of a year, but this process is now being expedited. This approach also allows for the introduction of fresh talent while swiftly addressing underperform...

Pocket FM, an audio series platform, is reducing its workforce as part of its restructuring efforts. The company is laying off 75 employees, primarily from the technology division. In an earlier round of layoffs in October 2023, it let go of 50 employees, and before that, 200 contract writers were terminated.  According to Moneycontrol, these layoffs are intended to ensure the company’s growth, success, and sustainable operations in the long run. Some media reports suggest that the job cuts may not stop at 75, indicating that the process could continue. In April 2024, Pocket FM completed its first Employee Stock Ownership Plan (ESOP) buyback, totaling $8.3 million. This buyback saw active participation from both current and former employees. At that time, the company emphasized its c...

Boeing reportedly lay off roughly 400 employees in Washington and 500 in California as part of their staff reduction initiative. The aerospace giant is in the process of shrinking its global workforce by 10%, having previously announced plans to cut about 17,000 jobs. As part of this endeavour, the company fired off approximately 400 employees in November, all of whom were members of Boeing’s professional aerospace labour union. Boeing’s commercial, defence, and global services departments have borne the brunt of the layoffs in Washington and California. The company has been coping with a financial problem for some time. Furthermore, employees went on strike for eight weeks, bringing production to a stop. The layoff is unsurprising given that Boeing earlier announced plans to c...

Airbus to cut almost 2,000 jobs in its defence and space sector

LinkedIn cuts 200 positions due to strategic changes

Freshworks plans to lay off 13% of its employees

Thyssenkrupp's steel division to lay off 5,000 employees in five years

Ola Electric announced layoffs amid rising market constraints.

Nissan plans to slash 1,000 jobs in Thailand