Layoffs This Week
Layoffs: Needless To Say, How Bad Things Have Gotten In Recent Times. Especially In The Face Of Economic Slowdown (Recession Fears).. Many Companies Have Created Big Plans To Reduce employees. As a result, companies Have Been Laying Off Employees On A Large Scale. Also The New Hires Have Also Been Reduced To A Large Extent. The IT Sector Is Particularly Affected. In The Year 2022 (Job Cuts 2022) Famous Companies Have Sent Employees Home.
Layoffs: Everything is Going Through Tough Times In The Backdrop Of Economic Slowdown. Globally The Giant Companies (IT Companies) Have Sent Many Employees Home. Unable to Bear The Rising Costs, They See No Other Option. As A Way To Get Out of These, Or To Prepare To Face The Economic Recession (Recession Fears), There Are Many Companies That Have Laid Off Employees On A Large Scale. It is not limited to any one sector. be it Telecom, Electronics, Hardware Manufacturing, Software Development… The Common Thing Is Job Cuts. Job Cuts Economic Experts Have Already Predicted That There Will Be An Economic Slowdown Especially In The Next 6 Months To A Year. Companies are also aware of that. If There Is An Economic Crisis, jobs will be Lost On A Large Scale. God knows About The New Appointments. Job Cuts Have Already Increased In The Last 6 Months Of This Year. Many Companies Are Laying Off Employees. Let’s See Which Companies Have Fired Those Employees And Stopped Hiring.
The Giant E-commerce Company Amazon Has Started Plans To Lay off 10,000 People At Once. Mostly These Lay Offs Are Known To Target Amazon Devices Group, Echo smart speakers, Alexa digital assistant, retail divisions and human resources. Bloomberg has reported to this extent. But there are Already News That Amazon Has Sent Their Staff Home On A Large scale. Amazon Also Led The Way In Falling Revenue. It Has Also Stopped New Recruitments.
Apple Job Cuts
The Famous Iphone Maker Company Apple Has Also Stopped Hiring Large-Scale Jobs In The Field Of Research And Development. The Budget Is Also Looking To Be Cut Down By Next year. This Information Has Been Given By Some Who Know About This Affair. It Will Not Have Much Impact On Those Working On Future Devices And Long Term Initiatives. But.. Some Corporate Functions, Standard Hardware, Software Engineering Roles Will Be Affected.
Digital Banking Startup Chim Financial Inc. Also Laid Off Employees On A Large Scale. It Laid Off 12 Percent Of Its Workforce, or 160 People. However, A Spokesperson Said The Company Is Well Capitalized And The Move Will Be Successful In The Long Run. The Assets Of This Financial Company, Which Started Less Than Ten Years Ago, Are 5.8 Billion Dollars in 2019. It is an American Financial Technology Company. It Offers Fee-free Mobile Banking Services.
Cisco Systems Plans To Reorganize The Company. This Will Affect 5 Percent Of Its Employees. It Said That Including The Impact, Termination And Other Costs That Have Already Been Incurred, Cisco Has Incurred A Burden Of 600 Million Dollars. However, Cisco Chief Financial Officer Scott Herren Said In An Interview That The Fired Employees Will Be Given The Opportunity to Move To Other Departments Within The Company. As Of July 30, Cisco Has 83,000 Employees.
Dapper Labs Inc. The Company’s Founder And Chief Executive Officer Roham Gharegoz took a crucial decision. it has been Revealed That 22 Percent Of The Staff In Their Company Will Be Laid Off. He Said That The Company’s Macroeconomic Conditions And Operational Challenges Have Become A Problem. Dapper Labs is Dedicated To Cryptos. It Is A Digital Marketplace That Provides Worldwide Information About Cryptos.
Digital Currency Group
Digital Currency Group is Another Famous Company Related to Crypto Currency. It Started Restructuring Just Last Month. As A Result, 10 Key People Who Were Part Of The Company’s Operations Had To Leave. In The Same Order, Mark Murphy, Who Is the Chief Operating Officer of the Digital Currency Group, Has Been Promoted To President. It is Known That The Crypto Currency System Has Been Heavily Damaged in Recent Times. The Value Of Crypto Is Also Falling Drastically.
DoorDash Inc. is an American based Online Food Delivery Company. It Has Suffered Huge Losses In Recent Times. The Reason Is That It Has Been Widely Invested And Expanded During The Covid Period. As A Result, 1250 Employees Have Been Fired. Affects 6 Percent Of US And Non-us Based Personnel. As Part Of The Expansion, We Have Made Large-scale Recruitments. Costs Have Skyrocketed. In a Letter To Employees, The Company’s CEO, Tony Shue, Said That The Only Way To Increase Revenue Is To Lay Off Employees.
Galaxy Digital Layoffs
Another Crypto Financial Services Company, Galaxy Digital Holdings Ltd., is Planning To Lay Off 20 Percent Of Its Employees. It is a Company Founded By Billionaire Michael Novogratz. But This Plan Seems To Be Changing. People Related To This Matter Said That 15 to 20 Percent Of The Employees Will Be Fired. Shares of Galaxy Digital have fallen more than 80 Percent This Year Alone. Due to lack of Proper Regulation Of Cryptos, They Have Been Falling Heavily Recently.
American Giant IT Services Company HP Inc. Will Hear About It Plans To Cut 6,000 Jobs Over The Next Three Years. There is No Reason For This. The Company Has Noticed That The Demand For Personal Computers Has Decreased In Recent Times. It Found That It Was Limiting Their Profits. That’s Why It Revealed That They Are Looking To Lay Off 6,000 People, I.e. Up To 10 Percent Of Their Work Force, And Take The Path Of Profits.
You Will Hear About Intel Corporation And Technology Company, a leading Manufacturer Of Semiconductor Chips. Aiming to Save About $3 Billion Next Year, It Is Looking to Lay Off Employees, Cut Investments And Cut Costs. It Is Looking To Increase This To 10 Billion Dollars By 2025. Thousands of People Will Be Fired In The Same Order. Investors Have Already Been Told About This, Bloomberg Reported. The Share Price Rose By Over 10 Percent That Day.
America-based Transport Company Lyft Inc. Has Already Decided To Exit The Vehicle Service Business As Part Of Cutting Costs. For That, 13 Percent Of The Staff Or 683 People Have Already Been Dismissed. It Has Already Made It Clear That Recruitment In America Has Also Been Suspended Till Next Year. The Effect Of Economic Recession Has Hit This Company Hard. These Are All Mitigation Measures. To Get Out Of It, Job Cuts Have Started.
The Parent Company Of Popular Social Media Company Facebook is known for Meta. 11,000 People Lost Their Jobs At The Same Time. This Is The First Time In The Company’s History That So Many People Have Been Fired. Meta Stock Has Fallen Significantly This Year. In The Same Sequence The Income Has Decreased Tremendously. Quarter to Quarter Profits Also Fell Sharply And Losses Followed. These 11 Thousand People Are More Than 13 Percent Of Their Workforce. Further, The New Appointments Have Also Been Extended Till The First Quarter Of The Next Financial Year. Facebook Founder Mark Zuckerberg’s Fortune Has Also Taken A Big Tumble.
Open Door Technologies is an American Online Company In The Real Estate Sector. It Provides Loans For Purchase Of Houses. Recently, the Company Is Unable To Cope With The Decrease in Domestic Demand. Another Reason Is Rising Mortgage Rates. They Are Trying To Reduce The Burden On Themselves. As A Result, 550 Employees Or 18 Percent Of The Workforce Have Been Laid Off. Don’t Forget That Most Of The Layoffs Are From US-based Companies.
Peloton is a Leading Company Offering Fitness Classes. It Has Cut 500 Jobs Worldwide, Or 12 Percent Of Staff. All Of Them Were Killed in The Month Of October Alone. It Is Noteworthy That This Is The Fourth Time For This Company To Lay Off Employees In This One Year. The Company Expects The Move To Break Even Before The End Of 2023. CEO Barry Mccarthy Said That Layoffs May Make Many People Angry, But Remember That This Is A Necessary Step To Save The Company.
Another Semiconductor Company In America, Qualcomm, is Also Engaged In The Process Of Layoffs. Chips in Smartphones Were Mostly Made By This Company. But Now The Company Expects That Demand To Decrease. Its Predictions Are Also Frightening. At The Same Time, it is Expecting A Double-digit Figure In Smartphone Shipments. If This Happens, They will Suffer A Huge Loss. That’s Why it is Slowly Removing The Employees. It has Also Stopped Hiring New Ones.
American Software Company Salesforce. It is Engaged In Customer Relationship Management Software And Applications. Focusing More On Marketing Automation, Analytics, Application Development. Salesforce Recently Announced That It Has Cut Hundreds Of Employees From Its Sales Team In Order To Turn its Software Products Into Low Demand. However, it is Noteworthy That Since 2017, Salesforce Has Tripled Its Number Of Employees. That is Why It Has To Be Removed Now.
Seagate Technology Holdings plc is a Data Storage Company. It Is The Biggest Maker Of Computer Hard Drives. Now It Has laid Off 3000 Employees. In The Background Of Economic Slowdown, Hardware Spendings Have Decreased.. Other Computer Supplier Companies Including Seagate And Intel Have Been Hit Hard. CEO Dave Mosley Said That As Orders Are Decreasing, it is becoming difficult for them to bear The Costs, And They Have To Take These Steps To Adapt To The Current Market Conditions And Become A Profitable Company In The Long Run.
Leading Payments Company Stripe Inc. It is One Of The Most Valuable Startups In The World. Now More Than 1000 Employees Have Been Laid Off. It Said It Still Has 7,000 Employees Despite Laying Off 14 Percent of its Employees. It Revealed That This Is Equal to The Total Number Of Employees In February. Stripe Co-founders Patrick And John Collision said the layoffs Were Part Of Cost-cutting Plans.
Not Much Can Be Said About The Popular Social Media Company Twitter. Recently The World’s Kubera Elon Musk Has Made Big Changes After Getting It. More Than 50 Percent Of The Employees Were Fired Together. This Number Is Over 3,700. It is Remarkable That There Is Also A CEO, CFO And Legal Head. Contract Employees Have Also Been Reduced In A Big Way. Elon Musk Has Said Many Times That He Has Made Good Hires For Efficiency And That Is Why The Layoffs Are Part Of Cutting Costs. It Has Been Clarified That The Employees Should Also Come Back To The Offices.
Upstart is a Leading Online Lending Platform. It Partners With Banks And Other Credit Unions to Provide Loans To Consumers. It Gives Loans In Various Sectors Like Education and Employment. Started In 2012, The Company Has Around 1500 Employees. But Now The Company Has Revealed In A Regulatory Filing That It Is Laying Off About 140 People As Part Of Its Cost-cutting Measures Amid The Economic Slowdown.