Job cuts

The creator of the company that launched Filecoin (CRYPOT: FIL), Protocol Labs, a technology company that develops computing infrastructure, has laid off 21% of its workforce, citing a global economic downturn and an extended cryptocurrency winter as reasons for the move. The layoffs...

Goodyear Tire & Rubber Co (NASDAQ: GT) said it is taking cost savings actions citing the challenging industry environment and cost pressure driven by inflation.  The company expects the planned rationalization and workforce reorganization to result in an approximately 5%...

Hasbro, Inc (NASDAQ: HAS) said it will eliminate nearly 15% of its global workforce in 2023 with the reductions to take place over the course of the next “several weeks.” What Happened: Pawtucket, Rhode Island-headquartered Hasbro said the reductions coupled with ongoing systems and...

Major Wall Street indices recorded mixed performance on Wednesday as investors and traders assessed the latest set of corporate earnings, including that of Microsoft Corp (NASDAQ: MSFT) which provided weak guidance during its earnings call. The Nasdaq Composite closed 0.18% lower, while the S&P...

Newell Brands Inc (NASDAQ: NWL) has launched a restructuring and savings initiative, Project Phoenix, resulting in the elimination of approximately 13% of office positions. The company will begin reducing headcount in 1Q23, with most of these actions completed by the end of 2023. In...

Wayfair Inc (NYSE: W) revealed a reduction of approximately 1,750 employees, representing 10% of its global workforce as of Dec. 31, 2022. This includes approximately 1,200 or 18% of corporate employees. Inclusive of the August 2022 restructuring, the labor portion of the plan...

Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google has decided to cut 12,000 jobs globally. CEO Sundar Pichai said that the eliminations reflect a rigorous review across product areas and functions to ensure that its people and roles were aligned with its...

Luxury travel subscription company Inspirato Inc (NASDAQ: ISPO) has put forward a plan to streamline operations. The plan includes a workforce reduction, effective immediately, that impacts approximately 12% of the company's current staff. Moving forward, Inspirato's...

Teladoc Health, Inc (NYSE: TDOC) slashed 6% of its workforce and underwent other initiatives during the fourth quarter of 2022 to reduce operating costs. The removal of redundant roles affected 300 non-clinician employees of the company. Teladoc also reduced office spaces in specific...

Tech giant Microsoft Inc (NASDAQ: MSFT) is preparing to lay off thousands of employees, according to multiple reports. What Happened: The Redmond, Washington-based company has more than 200,000 employees and will be cutting 11,000 jobs or about 5% of its workforce, according to Sky News, as...

Twist and turns for Twitter staff isn’t ending since Elon Musk became the owner and CEO of the company.  What Happened: After having to deal with smelly bathrooms and many unpleasant things, Twitter employees at the Singapore office have now been asked to empty their desks and vacate the...

The lull that characterized the holiday period continued into the past weekend. News flow is likely to pick up pace after the Martin Luther King Jr. holiday scheduled for Jan. 16, as the curtains lift on the fourth-quarter reporting season. Here's a recap of a few major headlines that hit the...

Former Secretary of Labor Robert Reich has expressed his concerns about the Federal Reserve’s fight against inflation in the context of employment.  Reich noted that the central bank’s attempt to rein in inflation by putting people out of work is ‘...

Goldman Sachs Group Inc. (NYSE: GS) is gearing up to eliminate about 3,200 positions this week, Bloomberg reported, citing a person with knowledge of the matter.  The investment bank will reportedly zero in on its core trading and banking units for most of the job cuts. Goldman Sachs...

Chicago-based McDonald's Corp (NYSE: MCD) has announced that it will accelerate its restaurant expansion plan and review corporate staffing levels as part of its new business strategy. Currently, the company operates in 119 markets worldwide and is divided into three segments: ...