Job cuts

Tesla, Inc. (NASDAQ:TSLA), which has been buffeted by fundamental issues, is looking to trim its workforce, according to a report that surfaced late Sunday. What Happened: Tesla has notified regarding of a shortening of Cybertruck production shift at the Giga Texas factory even as the electric-...

Block (NYSE:SQ) stock surged by nearly 14% in premarket trading on Friday following the company’s Q4 2023 earnings report. The report showcased a significant increase in gross profit and robust growth in the Square and Cash App revenue. What Happened: The company, previously known as Square,...

BuzzFeed Inc‘s (NASDAQ:BZFD) share price rose by 137.42% to $0.52 in after-hours trading after the company revealed the sale of Complex Networks to NTWRK, a live-streaming video commerce platform. The deal, valued at $108.6 million, will also result in a 16% reduction in BuzzFeed’s...

In a strategic move to invest in generative artificial intelligence (AI), major tech companies have collectively cut 34,000 jobs since the beginning of 2024. What Happened: Companies such as Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), PayPal Holdings Inc (NASDAQ:PYPL),...

Amazon.com Inc (NASDAQ:AMZN) has announced that it will lay off hundreds of employees at its One Medical and Pharmacy units as part of a major cost-cutting initiative. What Happened: These layoffs are part of a significant cost-saving drive intending to save One...

United Parcel Service Inc. (NYSE:UPS) witnessed its most significant drop in shares since April 2023. The company’s latest financial report revealed revenues falling below expectations, coupled with weaker-than-anticipated guidance for the future, leading to a sharp market reaction. Massive...

In an internal all-hands meeting held on Wednesday, Audible, an Amazon.com Inc (NASDAQ:AMZN) unit, discussed potential future layoffs and the increasing competition from Spotify. This meeting reportedly comes two weeks after Audible reduced its workforce by 5%. What Happened: Audible CEO Bob...

In a recent announcement, Tencent Holdings Ltd (OTC:TCEHY) subsidiary Riot Games revealed plans to lay off approximately 11% of its global workforce. What Happened: Riot Games, the developer of popular titles like “League of Legends,” will be reducing its staff by 530 employees, Reuters...

Citigroup (NYSE:C) is continuing its leadership overhaul amidst a comprehensive reorganization, according to sources close to the situation. The bank’s CEO, Jane Fraser, recently held a conference call with managing directors to discuss the ongoing changes. What Happened: The bank has been...

In a startling revelation, the International Monetary Fund (IMF) has predicted that artificial intelligence (AI) will have a significant influence on nearly 40% of jobs worldwide, with advanced economies expected to bear the brunt of this impact. What Happened: A recent Bloomberg report ...

Citigroup Inc. (NYSE: C) has unveiled plans to slash 20,000 jobs. The decision, spearheaded by CEO Jane Fraser, aims to bolster the financial giant's performance, which has been underwhelming recently. The bank anticipates the cuts will lead to substantial savings, potentially...

In a major layoff round, Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google has reportedly let go of over 1,000 staff members, marking the largest layoff since January 2023. The layoffs have expanded to non-hardware teams like Assistant as well as core engineering departments, among others....

The technology titan, Alphabet Inc.’s Google (NASDAQ:GOOGL) (NASDAQ:GOOG), is making headlines with its decision to lay off hundreds of employees from its hardware and digital assistant teams. This move is part of a broad cost-cutting initiative within the company. What Happened:...

BlackRock Inc. (NYSE: BLK announced plans to eliminate approximately 600 jobs, constituting about 3% of its global workforce. This move, per Bloomberg, reflects the evolving asset management landscape and a realigning of its workforce with emerging trends. CEO Larry Fink and President Rob Kapito...

On Monday, NuScale Power Corp (NYSE: SMR) disclosed workforce reduction to save costs. The company announced a workforce reduction of 154 full-time employees, representing around 28% of full-time staff.  SMR expects its strategic actions to result in annualized savings of around...