attrition
Dunzo reduces personnel by 75% to cut costs
Dunzo reduces personnel by 75% to cut costs
FedEx to cut 2000 positions in Europe
FedEx is planning to reduce its European workforce by cutting 1,700 to 2,000 back-office and commercial positions over the next 18 months as part of its cost-reduction strategy. This move is expected to affect some of the nearly 50,000 employees in the region and could save the company between $125 million and $175 million annually starting from 2026-2027. However, the job cuts will incur costs of $250 million to $375 million in redundancy payments and related expenses. The restructuring will involve eliminating certain roles, merging teams within back-office and commercial operations, and consolidating some activities across the region into select shared activity centers. Despite these changes, FedEx assured that customer service and delivery operations will remain unaffected. The company...
IBM is cutting its personnel in China, firing off 1,000 employees
IBM is cutting its personnel in China, firing off 1,000 employees
Apple slashes 100 positions in its services division
Apple slashes 100 positions in its services division
GoPro plans to reduce its personnel by 15% as part of its reorganisation efforts.
GoPro, the well-known action camera manufacturer, has announced its plan to reduce its workforce by approximately 15 percent. This move is part of the company’s broader restructuring efforts aimed at cutting operating costs. The company’s board of directors has approved the restructuring plan, which will affect around 139 of its 925 full-time employees. The layoffs are set to begin in the third quarter of 2024 and are expected to be completed by the end of the year. This marks GoPro’s second round of job cuts in 2024, following a four percent reduction in March, during which the company also downsized its global office space. Despite these measures, GoPro’s financial performance for the second quarter showed a 22.7 percent decline in revenue, dropping to $186 millio...
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.