Layoffs

Tencent Holdings ADR (OTC:TCEHY) officially denied rumors of layoffs and restructuring within the company, while acknowledging recent changes in its leadership structure. This response came after an internal email leaked, informing staff about significant personnel adjustments. Key Leadership...

Meta Platforms Inc. (NASDAQ:META) has reportedly terminated several employees in Los Angeles for misusing meal credits. What Happened: Meta has dismissed around 24 employees in Los Angeles for utilizing their $25 meal credits to buy non-food items such as toothpaste and wine glasses, reported the...

Editor’s Note: This story has been updated to include a comment from a Meta spokesperson. Meta Platforms Inc. (NASDAQ:META) has confirmed layoffs across multiple teams, including Instagram, WhatsApp, and Reality Labs. What Happened: Meta has confirmed that several teams within the...

Leading U.S. consulting firm McKinsey & Company is reportedly downsizing its workforce in China, eliminating around 500 positions, which equates to about one-third of its employees in the region. This decision is part of a strategic move to address security concerns linked to its operations in...

Riot Games, the studio behind League of Legends, has announced a series of layoffs affecting its League of Legends PC development team, alongside plans for future expansion. The news was delivered by Riot Games co-founder Marc Merrill in a statement posted to X: “This isn't about reducing...

As Boeing Co. (NYSE:BA) grapples with a prolonged strike by its factory workers, Airbus SE (OTC:EADSY) has reportedly decided to cut up to 2,500 jobs in its Defence & Space division. This move comes in response to significant financial setbacks in its satellite projects. What Happened: The...

Bandai Namco Holdings ADR (OTC:NCBDY) is facing internal shifts in its Japanese workforce following recent reports of project cancellations. Despite a strong release from its latest anime-based game, Dragon Ball Z: Sparking! Zero, which sold over 3 million units within 24 hours, Bandai Namco...

Epic Games CEO Tim Sweeney declared the company "financially sound" during a presentation at Unreal Fest 2024. This statement comes after a tumultuous period marked by significant layoffs and strategic divestitures. The Layoffs And Strategic Shifts In September 2023, Tencent ADR (OTC:TCEHY) backed...

Canadian game developer SkyBox Labs has laid off 25 employees, becoming the latest studio affected by the sweeping economic difficulties plaguing the gaming industry. In a statement shared on LinkedIn last week, SkyBox said: “Today we informed our studio that we made a reduction to our staff...

Microsoft Corp. (NASDA: MSFT) announced the end of its Xbox Ambassadors program. Starting today, the program will begin winding down, with a complete shutdown scheduled for Oct. 15, 2024. Ambassadors have until that date to claim any remaining rewards and codes. See Also: Xbox Invests In...

Microsoft Corp's (NASDAQ:MSFT) latest round of gaming layoffs has impacted key teams at Activision Blizzard, with those behind Call of Duty: Warzone Mobile and Warcraft Rumble bearing the brunt. These layoffs, numbering 650, follow an earlier cut of 1,900 employees this year, bringing the total to...

PricewaterhouseCoopers (PwC) is reportedly laying off approximately 1,800 employees, marking its first formal cuts since 2009. What Happened: The layoffs will impact about 2.5% of PwC’s U.S. workforce, primarily affecting its advisory, products, and technology operations. The cuts will span...

Samsung Electronics (OTC:SSNLF), the world’s top producer of smartphones, TVs, and memory chips, is reportedly planning to reduce its overseas workforce in some divisions by up to 30%. The South Korea-based tech giant has instructed its global subsidiaries to decrease sales and marketing...

Rocksteady Studios has reportedly laid off several employees following the disappointing performance of its latest title, Suicide Squad: Kill the Justice League. According to reports from Eurogamer, the studio’s quality assurance (QA) team has been particularly hard hit, with 18 out of 33...

Apple Inc. (NASDAQ:AAPL) has reportedly laid off about 100 employees from its services division. What Happened: On Tuesday, Cupertino informed the affected employees who were part of various services under senior vice president Eddy Cue, reported Bloomberg, citing people with knowledge of the...