Job cuts

Prominent market commentator Jim Cramer on Wednesday cautioned investors the tech industry may see more lay-offs owing to continuing macroeconomic headwinds. “There are so many tech companies with bloated payrolls that are still trying to grow rapidly, overpaying for new employees, and they...

Helen Of Troy Ltd (NASDAQ: HELE) reported a third-quarter FY23 sales decline of 10.6% year-on-year to $558.6 million, beating the consensus of $552.89 million. Core business net sales decreased 10% Y/Y and 9.6% compared to Q3 FY21. The company attributed the sale decline primarily to a...

"The Big Short" investor Michael Burry has expressed skepticism on the stock price movement of Salesforce Inc (NYSE: CRM) following the company’s plans to reduce its current workforce by 10%. “CRM should have been down 25% on those job cuts. Job cuts are so not the reason...

Oncocyte Corporation (NASDAQ: OCX) announced an over 40% reduction of its workforce to realign the team towards key products that address larger markets.  Additionally, Oncocyte has entered into a Stock Purchase Agreement to transfer 70% of its ownership of Razor Genomics Inc...

HP Inc (NYSE: HPQ) announced an FY23 Future Ready Transformation plan, driving significant structural cost savings through digital transformation, portfolio optimization, and operational efficiency.  It estimates that these actions will result in annualized gross run rate savings of...

It’s been a rough two weeks for fictional character Rahul Ligma. In the span of a couple of weeks, Ligma was fired from both Twitter and FTX. Here’s what happened and what Tesla Inc (NASDAQ: TSLA) and Twitter CEO Elon Musk had to say. What Happened: After acquiring Twitter for $44...

Everbridge, Inc (NASDAQ: EVBG) clocked a 15% revenue growth in Q3 to $111.4 million, topping the consensus of $110.8 million.  Non-GAAP EPS of $0.27 beat the consensus of $0.16. Non-GAAP operating profit was $9.8 million versus $2.2 million a year ago. Everbridge ended Q3 with...

Swedish home appliance manufacturer Electrolux AB (OTC: ELUXY) has initiated a cost reduction plan and North American turnaround program in the wake of a demand slump. The proposed plan is expected to affect 3,500 – 4,000 positions. The company said it would take a...

Employees of a leading social media platform are asking for guarantees ahead of a highly anticipated acquisition by the world’s richest man. Here’s what Twitter Inc (NYSE: TWTR) employees want. What Happened: With Tesla Inc (NASDAQ: TSLA) CEO Elon Musk saying funding is secured and a...

Koninklijke Philips N.V. (NYSE: PHG) reported a third-quarter FY22 comparable sales decline of 5% year-on-year to €4.3 billion. Continued supply shortages, inflationary pressures, the COVID situation in China, and the Russia-Ukraine war led to the decline. The comparable order...

Arcimoto Inc (NASDAQ: FUV) intends to reduce annual expenses by approximately $20 million via reduced operations spending and job cuts. Arcimoto's restructuring plan includes four key actions: increasing the backlog of sales, focusing on consumer FUV, fleet Deliverator, and strategic...

The PC slowdown is beginning to bite chipmakers. Intel Corporation (NASDAQ: INTC) is reportedly eyeing massive job cuts to tide over the current malaise. What Happened: Intel plans to announce a major headcount reduction, running into thousands, as early as this month, reported Bloomberg...

BioMarin Pharmaceutical Inc (NASDAQ: BMRN) will redesign the organization to better focus investments that advance its R&D pipeline, maximize recent commercial launch success, prepare for a potential launch of Roctavian (valoctocogene roxaparvovec) in the U.S., and drive core...

OncoSec Medical Inc (NASDAQ: ONCS) announced a corporate restructuring intended to prioritize the development of its lead clinical candidate TAVO (TAVO-EP). Oncosec is reducing its staff by approximately 45% and prioritizing clinical pipeline activities to reduce operating expenses...

Volta Inc (NYSE: VLTA) has put forward an organizational realignment plan to reduce costs and drive strategic priorities. It is planning to reduce the current full-time employees by 10%. Volta has cut 18% of its full-time employees through other workforce reductions and organic...