200 Workers are Fired by US Mortgage Giant Fannie Mae, Primarily Associated with Telugu Groups
Allegedly, at least 200 Indian-American workers were let go for working with Telugu groups to misuse Fannie Mae's matching grants programme.
Layoffs
Confirmation of May Layoffs at Goldman Sachs with an Average Severance Pay of $80,000
As it was previously reported in the media, Goldman plans to reduce its workforce by 3-4% in Q2, which translates to approximately 1,900 job losses. According to reports, Goldman is urging other VPs and managing directors (MDs) to relocate to less expensive areas like Salt Lake City.
In May, Microsoft Might Announce Further Layoffs as Part of its Restructuring
The change is in line with a similar initiative by Andy Jassy, the CEO of Amazon, who has supported a more lean organisational structure throughout the business.
600 Customer Service Representatives are Let Go by Zomato
This move also added more fire to the rumours of Zomato witnessing a decline in its primary food delivery service.
Zomato Under Fire After Implementing Mass Layoff Without Prior Notice
A former Zomato employee claims in a widely shared Reddit post that the firm unexpectedly and without warning fired over 300 employees, sparking uproar. According to the former worker, who says he was one of those affected, the decision was made based on an "average lateness" of only
About 40 Trainees are Laid Off by Infosys
Out of the 1,200 engineers that Infosys onboarded in October and November, 40 to 45 more trainees were let go after the company came under fire for firing about 400 trainees who didn't perform well in its rigorous assessment. An important internal evaluation that Infosys had planned
Boeing Fires 180 Workers in Bengaluru
As part of a global staff reduction initiative, American aircraft manufacturer Boeing sacked over 180 workers at its engineering technology centre in Bengaluru, Karnataka, according to a media agency. India is a significant market for Boeing, where the corporation employs about 7,000 people. Up to 180 employees at the
By early 2025, Amazon Plans to Eliminate 14,000 Managerial Positions
By early 2025, Amazon plans to let off 14,000 administrative staff members as part of a comprehensive restructuring strategy meant to boost productivity and cut expenses. It is anticipated that Amazon will save between $2.1 billion and $3.6 billion a year as a result of the decision,
Ambani's Reliance Retail Plans to Reduce Staff and Limit Growth
Mukesh Ambani and his daughter Isha Ambani are reportedly considering job and cost reductions as sales of Reliance Retail declines sharply. This includes reducing marketing expenditures, postponing the opening of new stores, combining Reliance Brands Ltd. with the bigger retail company, and reevaluating international brand alliances. Additionally, higher-paying staff will
Over 1,000 Workers are Let go by Ola Electric Due to Growing Losses
According to a media agency, Ola Electric Mobility Ltd., under the leadership of Bhavish Aggarwal, is laying off over 1,000 staff and contract workers in an attempt to reduce the company's growing losses. As the electric two-wheeler (2W) manufacturer goes through a significant reorganisation, the employment cutbacks
Due to a Serious Liquidity Situation, Dunzo Is Laying Off an Additional 150-200 Workers
Amid a severe liquidity constraint, the domestic quick-grocery delivery service Dunzo is reportedly laying off at least "150-200" additional staff. The company is planning to raise $35 million in capital from existing supporters such as Reliance Industries and Google in addition to new investors. There have been various
Over 200 Workers Are Laid off by Agritech Company Waycool
To increase its profitability, the agriculture supply chain company Waycool has terminated the employment of more than two hundred people across all departments. This is the third wave of layoffs that have been implemented at the corporation situated in Chennai. Waycool's businesses are all working hard to put
🔍Insights
Tech Industry Layoffs: What Do They Mean?
The discipline of computer science first emerged in the late 1950s and consistent and constant research and upgrades resulted in the advent of the World Wide Web as the world entered the new era of the internet. The revolutionary effect of emerging technology on culture and commerce included near-instant communication
✍️ Opinions
8 Ways Organizations Can Handle Communication During Layoffs - By Sridhar Laxman, Executive Coach, Lucid Minds Coaching
> This article has been contributed by Sridhar Laxman, Executive Coach, Lucid Minds Coaching. Layoffs, terminations, downsizing, and reorganization is a challenging and complex processes. Companies hire employees when the business demand is high, cash flows are healthy, and the external environment is favorable for a quick and sustained expansion.
🔍Insights
Is India Bouncing Back From the Layoff?
A layoff is an involuntary separation from work through no fault of the employees. It is initiated by the employer for economic or business reasons. The global break-out of the Covid-19 pandemic spelt a disaster for the economy as 2020 saw severe lockdown restrictions for more than half the year.