Layoffs

Ubisoft Entertainment SA‘s (OTC:UBSFF) ongoing restructuring efforts have resulted in another round of layoffs, this time impacting staff across two of its U.S.-based studios. The French video game publisher, known for blockbuster franchises like Assassin’s Creed and Tom Clancy’s...

In a move that mirrors Tesla Inc's (NASDAQ:TSLA) dramatic workforce reduction earlier this year, Intel Corp (NASDAQ:INTC) reportedly plans to slash 15% of its workforce. This planned reduction, according to The Verge, is part of Intel's ambitious turnaround strategy aimed at regaining its footing...

Bungie has reassured the Destiny community that its commitment to the franchise remains steadfast, even as the studio undergoes significant changes. Following the recent layoffs that saw 220 employees let go, Bungie emphasized that Destiny is set to embark on another “multi-year journey,...

Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA) shares saw a near 7% rise in pre-market trading following the announcement of a significant write-down and workforce cuts. What Happened: Paramount Global announced a write-down of nearly $6 billion on its cable networks and plans to cut 15% of its U.S...

In a recent development, the United Nations (UN) has terminated more employees from its agency for Palestinian refugees, UNRWA. This decision comes in the wake of an internal investigation into their suspected involvement in a Hamas-led attack against Israel on Oct. 7. What Happened: The UN’...

In a move that has shaken the tech industry, Intel Corp (NASDAQ:INTC) is set to fire about 15,000 employees, amounting to over 15% of its workforce, as part of a drastic cost-cutting measure aimed at saving $10 billion by 2025. The announcement, which came shortly after Intel’s disappointing...

In the wake of disappointing second-quarter results, Intel Corp. (NASDAQ:INTC) shares experienced a significant drop in pre-market trading on Friday. The company also announced a considerable reduction in its workforce. What Happened: On Friday, Intel’s stock was trading 21.58% lower at $22....

Elon Musk‘s Tesla Inc. (NASDAQ:TSLA) and xAI are on the lookout for networking engineers and technicians, with a focus on Memphis for elite fiber tech roles. What Happened: Musk’s post quoted xAI, which stated, “Come help xAI route photons as an elite fiber tech in Memphis!...

Microsoft Corp. (NASDAQ:MSFT) has reportedly carried out another round of layoffs, affecting various teams and regions. The company has not disclosed the exact number of employees impacted. What Happened: The layoffs have affected employees in roles related to product and program management, as per...

Logistics and shipping giant FedEx Corporation (NYSE:FDX) is set to announce fourth-quarter (Q4) financial results after market close Tuesday, June 25. Here's a look at the earning estimates, analyst ratings and key items to watch. Earnings Estimates: Analysts expect FedEx to report fourth-quarter...

In 2024, the U.S. tech industry has witnessed a wave of significant layoffs, with Tesla Inc. (NASDAQ:TSLA) leading the charge with its strategic downsizing. According to CNBC, citing internal data, the electric vehicle (EV) automaker reduced its workforce by at least 14% this year. This reduction...

More job cuts could be on the way at Meta Platforms (NASDAQ:META) as the company continues to exercise on its "year of efficiency" goals outlined previously. What Happened: Meta Platforms has been looking to trim its employee count for certain business lines and more cuts appear to be here. The...

Linda Yaccarino, the CEO of X, formerly Twitter, reportedly held an all-hands meeting on Wednesday, leaving employees with more questions than answers. What Happened: During the internal meeting, Yaccarino did not address the delayed promotions and the sales team’s failure to meet revenue...

Tencent Holdings Ltd‘s (OTC:TCEHY) Sumo Group, the parent company of Secret Mode and other game developers, has announced layoffs affecting 15% of its workforce, citing challenges facing the games industry. In a statement, Sumo Group said: “The difficult decision to reduce our costs...

The Communications Workers of America (CWA), the largest communications and media labor union in the U.S., has filed Unfair Labour Practice charges against Lionbridge Technologies, a supplier for Microsoft Corp. (NASDAQ:MSFT). According to the CWA press release, Lionbridge laid off an entire Idaho-...