Job cuts

Following the collapse of a major deal, Embracer Group (OTC: THQQF) has confirmed laying off 904 employees, constituting 5% of its workforce. These cuts include the closure of Volition, the studio behind Saints Row, IGN reported. The company announced a reduction in headcount across...

Under the watchful eye of CEO Andy Jassy, Amazon Inc. (NASDAQ:AMZN) has seen its profit margins nearing record highs. Jassy, who began his role as CEO in mid-2021, has been resolute in his efforts to reduce costs across the company, reported CNBC. Over the past year, he has...

In the face of dwindling demand for its core product, smartphone chip manufacturing giant Qualcomm Inc. (NASDAQ:QCOM) has declared sizable job reductions. What Happened: As reported by Bloomberg, Qualcomm will be laying off 1,258 employees, primarily in its San Diego and Santa Clara...

A potential return-to-work mandate from Meta Platforms (NASDAQ: META) is signaling the possibility of further employee exits from the social media giant, as major tech companies grapple with finding the equilibrium between remote and in-office work arrangements. This potential backlash against the...

Automotive safety supplier Autoliv Inc (NYSE:ALV) said on Thursday that it will reduce both its direct and indirect workforce by about 11% in an attempt to cut costs. What Happened: Under the cost-cutting initiative, the company will cut about 6,000 direct positions and 2,000 indirect positions....

Pixar Animation Studios, a subsidiary of The Walt Disney Company (NYSE: DIS), has recently undergone significant restructuring, resulting in the elimination of 75 positions. As per Reuters, among those affected by the cuts were Angus MacLane, the director of "Lightyear," and Galyn Susman...

Relic Entertainment Inc., the Canadian video game developer owned by Sega Sammy Holdings Inc. (OTC: SGAMY), announced the layoff of 121 employees. The Vancouver-based company becomes the latest addition to the growing list of tech companies initiating significant layoffs, a concerning...

On Thursday, Britain's mobile provider BT Group announced that it plans to cut as many as 55,000 jobs by 2030.  BT Group's CEO Philip Jansen said the company is moving towards digitizing its operations and simplifying its structure, which would rely on a much...

IT service giant International Business Machines Corp. (NYSE:IBM) is banking on technology to tide over the vagaries of an inclement economic environment. What Happened: IBM plans to pause or slow down hiring for back-office roles like human resources, which could potentially be replaced by AI and...

Technology and social media giant Meta Platforms (NASDAQ: META) is set to report first-quarter financial results after market close Wednesday. Here are the key earnings expectations from analysts and what the big items are to watch. Analyst Estimates: For the first quarter, analysts are expecting...

Walt Disney Co.’s (NYSE: DIS) streaming business has seen workforce reduction amid the company’s broader overhaul efforts to boost profitability. What Happened: Burbank, California-based Disney has eliminated 300 positions in Beijing, China, in its streaming business, the Wall Street...

Meta Platforms Inc (NASDAQ: META) is planning more job cuts in several rounds over the coming months.  The first round of layoffs is expected to be announced next week, and it would hit the non-engineering roles, people familiar with the matter told The Wall Street Journal. The...

Japanese automaker Toyota Motor Corp. (NYSE: TM) has agreed to provide the largest wage hike to employees in 20 years. What Happened: After the first round of negotiations, Toyota agreed to give the largest wage hikes in two decades according to its union, stated a report in Bloomberg. See...

Goldman Sachs Group Inc (NYSE:GS) CEO David Solomon reportedly told a private gathering of the bank's top executives he had erred by not trimming jobs earlier in 2022. Solomon said he was responsible for being slow in trimming headcount and cutting down on investments in new projects...

Since taking over social media platform Twitter, job cuts and working for Elon Musk have been popular topics. In November 2022, Benzinga polled its Twitter followers to find out how people feel about working for Musk. What Happened: Musk completed a $44 billion acquisition of Twitter last year. The...