Job cuts

Snap, Inc. (NYSE: SNAP), the parent of Snapchat, could reportedly join a bevy of tech companies that are either slowing hiring or eliminating jobs. Santa Monica, California-based Snap is in the early stages of planning job cuts, the Verge reported, citing people familiar...

Rivian Automotive Inc (NASDAQ: RIVN) is planning to slash 6% of its 14,000 employees, the Wall Street Journal reported. The move is a part of the company’s initiative to soothe inflationary pressures. CEO RJ Scaringe, in an internal email, said the plan is a part of a cost-cutting...

Ford Motor Co (NYSE: F) is planning to slash as many as 8,000 jobs to boost investment into electric vehicle manufacturing, Bloomberg reported. The job loss is likely to happen in Ford's recently formed Ford Blue unit, which is in charge of internal combustion engine vehicle...

Electric vehicle company Tesla Inc (NASDAQ: TSLA) has been laying off some of its salaried workers, a move that CEO Elon Musk previewed earlier this year. A new report shows exactly where those former employees have found new work, including several of Tesla’s rivals. What Happened: Musk...

Electric vehicle startup Rivian Automotive Inc (NASDAQ: RIVN) reportedly aims to lay off several hundred workers to undo a recent hiring surge and reduce redundancy of roles. What Happened: According to a Bloomberg report on Monday, Rivian's planned job cuts are focused on...

Electric vehicle leader Tesla Inc (NASDAQ: TSLA) surprised many with an announcement that it would reduce its workforce by 10%. CEO Elon Musk later clarified that the company would not freeze hiring, instead it was looking to cut salaried workers in some industries. With so much negativity around...

Meta Platforms Inc (NASDAQ: META) CEO Mark Zuckerberg has reportedly asked his employees to brace for one of the worst economic downturns in recent history. What Happened: Zuckerberg told his staff on Thursday that he was hoping to turn up the heat on them, Reuters ...

Oyster Point Pharma Inc (NASDAQ: OYST) will implement an operating expense streamlining plan to reduce employee and non-employee expenses (up to 50 roles) across the organization.  The company plans to continue to drive the launch of Tyrvaya with approximately 150-200 field-...

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said on Tuesday that the electric vehicle maker is reducing the salaried workforce by 10% over the next three months, for the first time confirming a timeline for the reduction, adding that he expects the company's hourly workforce to grow instead. What...

News of electric vehicle giant Tesla Inc (NASDAQ: TSLA) cutting jobs has been widely covered by the media this week. Here’s a look at updates from the company including how the hiring freeze reports could be inaccurate. What Happened: Tesla CEO Elon Musk told executives of the company that...

KVH Industries Inc (NASDAQ: KVHI) reported a fourth-quarter FY21 revenue decline of 2% year-on-year to $43.1 million, beating the consensus of $42.7 million Product revenues declined 24% Y/Y to $15.9 million due to lower inertial navigation sales. Service revenues increased 17% Y/Y...

Texas-headquartered Oil and Gas company Exxon Mobil Corporation (NYSE: XOM) announced plans on Monday to cut jobs across its affiliates in Europe. The country-specific impact of the layoffs is still uncertain, and the decision would be based entirely on the company’s presence in the...

Banks across the globe announced plans to cut 77,780 jobs this year, the highest job cuts since 2015, Bloomberg reported on Friday. What Happened The number of cuts has nearly doubled since last year, but it is significantly lower than the 91,448 job cuts seen in 2015, Bloomberg data...

When Microsoft (NASDAQ: MSFT) rallies a point and half in one trading session and then attempts to rally nearly another two points in premarket trading the following day, one has to wonder if it is time to sell the news. Beside the bullish comments by Morgan Stanley analyst Keith Weiss on...

Another indication that while the overall economy may be recovering, the American workforce is still finding it difficult to stay fully employed. Data released Wednesday by the outplacement consulting firm Challenger, Gray & Christmas reports the nation's employers announced plans to cut 45...