Page 2 - Job Cut

Artificial intelligence driving more layoffs than companies want to admit

Experts struggle to get an accurate picture of just how many jobs are being eliminated as AI rapidly advances

Tesla asks managers which jobs are critical, stoking layoff fears: Report

Tesla sent out a single-line query for each job after canceling some employees' biannual performance reviews, some of the people familiar with the matter told Bloomberg

Ebay cutting 1,000 jobs, it's latest tech company to reduce workforce

Online retailer eBay Inc will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry. CEO Jamie Iannone said in a message to employees on Tuesday that the company also will reduce how many contracts we have within our alternate workforce over the coming months. Those who are being laid off will be told through Zoom calls with their bosses, Iannone said, requesting that people work from home Wednesday to allow privacy for those conversations. We need to better organise our teams for speed allowing us to be more nimble, bring like-work together, and help us make decisions more quickly, he said in the note, which was posted online. These changes are difficult, but I'm confident that by working together we will become stronger than ever, Iannone added. San Jose, California-based eBay is the latest tech company to

Focused cuts, fewer layers: Tech industry layoffs enter new phase

Slashing tech work forces would have been anathema in Silicon Valley just a few years ago

UPS to cut 12,000 jobs, shares drop nearly 6% in premarket trading

UPS slid before the opening bell on Tuesday as the package delivery company announced that it's eliminating approximately 12,000 jobs and looking at strategic options for its Coyote truck load brokerage business. Last year union members at UPS voted to approve a tentative contract agreement, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. On a conference call on Tuesday morning, CEO Carol Tome said that by reducing the company's headcount UPS will realise USD 1 billion in cost savings. We are going to fit our organisation to our strategy and align our resources against what's wildly important, Tome said. She also announced that this year UPS is returning to a policy of having its employees back in the office five days a week. United Parcel Service Inc. anticipates 2024 revenue in a range of approximately USD 92 billion to USD 94.5 billion. Analysts surveyed by FactSet predic

TikTok cuts 60 jobs in sales, advertising division as tech layoffs continue

The positions affected were based in Los Angeles, New York, Austin and overseas, a company spokesperson said

SAP to restructure 8,000 jobs in push towards AI, shares hit record

The company said it will spend 2 billion euros ($2.2 billion) on the programme to either retrain employees with AI skills or to replace them through voluntary redundancy programs

SAP unveils restructuring plan to trim costs, move to affect 8,000 jobs

Separately, SAP reported a 5 per cent gain in fourth-quarter non-IFRS revenue to €8.47 billion ($9.2 billion)

eBay plans to cut 1,000 jobs, reduce contractors to sharpen focus

The e-commerce company said it needs to be "more nimble" in the face of a "challenging" economic environment

Online furniture retailer Wayfair to cut 1,650 jobs to trim costs

The company has been taking cost-savings initiatives since August 2022, in a bid to operate more efficiently. Last year, it said it would cut 1,750 jobs, or about 10% of its workforce

Major IT companies look to freeze intake of freshers this fiscal: Report

Hiring of freshers is likely to decline in the current fiscal as major IT companies look to freeze intake of freshers, according to a report. In its hiring outlook for fresh IT/engineering graduates in the fiscal year 2023-24, TeamLease Digital said that 1.55 lakh freshers are likely to be hired in the IT/Tech sector this fiscal compared to 2.3 lakh freshers in the previous financial year. With approximately 1.5 million engineering graduates actively seeking IT/Tech roles, muted market sentiments and intensified skills evaluation mechanisms have created a turbulent landscape, it added. The report is based on secondary sources, including news reports and company reports, it said. As major IT companies freeze fresher intake, alternate sectors are opening up demand. Other segments, including Global Capability Centers (GCCs) and non-tech sectors like banking, financial services and insurance (BFSI), communication, media and technology, retail and consumer business, life sciences and .

Naive to believe new technology will cause no job loss: Meity secretary

Traditional jobs in the BPO sector are drying up and it will be naive to be under the impression that there will be no job loss due to the advancement of technology, a senior government official said on Thursday. While speaking at CII's Global Economic Policy forum, Ministry of Electronics and IT, Secretary S Krishnan in response to a question on the impact of artificial intelligence on jobs said that there will be fear among people but equally skilling will become an important task to help people move up in the value chain. "We will be naive if we believe that there will be no job losses as a result of new technology. The comparison to the Industrial Revolution is also very apt in that regard. When you had greater mechanization than naturally, jobs were lost and there were many people who were extremely fearful of job losses," he said. Krishnan said there will be substantial productivity enhancement in certain sectors which will then free up a lot of people. "I think, then what ..

Accounting company PwC plans to cut around 600 jobs in UK: Report

The job cuts will be directed mainly at PwC's advisory business and a small number in the tax department, the report said

Citigroup prepares for job cuts as it revamps top management structure

The moves will result in a number of job cuts, though the company doesn't yet have firm targets for how many employees will be affected

Barclays PLC to cut about 450 jobs in UK retail bank, says trade union

The bank is consulting over which roles will be cut, with the majority expected to be in head office roles, including at vice-president level

National Geographic lays off last writers, will not be sold in US anymore

National Geographic layoffs: Job cuts by Disney, the publication's parent company, were the second over the past nine months

Wall Street job cuts likely to surpass 11K as CEOs unwind hiring binge

Only this week, Citigroup announced its plans to cull 5,000 jobs, mostly in investment banking and trading, by the end of the second quarter

Third round of layoffs: Meta's senior India executives get pink slips

Directors of marketing, media partnerships among impacted

First Citizens-owned Silicon Valley Bank to lays off about 500 employees

"It is increasingly clear that we must make decisions to right-size our scope and scale to remain competitive"

Layoffs coming: US telecom carrier Verizon warns customer service employees

The layoff warning as the company lost 127,000 postpaid subscribers in the first quarter this year