French train maker Alstom plans to cut up to 1,300 of its roughly 10,000 jobs in Germany over the next three years as part of a restructuring after the purchase of Bombardiers rail unit. No. Send, a grocery delivery app that was founded in the midst of the COVID-19 pandemic has collapsed into voluntary administration. The company called the layoffs part of the broader plan to reduce costs globally. of Employees to be Laid off: 40% of employees. of Employees to be Laid off: Hiring Freeze. Dow Inc.is laying off about 2,000 employees globally as job cuts that have so far been concentrated in the technology sectorspread to other parts of the economy. CEO Jamie Iannone said the company decided to make cuts after examining the global macroeconomic environment over the past several months. of Employees to be Laid off: 6% of Employees. This is according to a filing with the states workforce commission, as the company works through Chapter 11 restructuring that includes asset sales. GLINTS, a Singapore-based HR startup focused on career development and talent recruitment, has retrenched 18 percent of its 1,000 employees. 12% of this is voluntary, and 6% is involuntary (layoffs, terminations, etc.). Goldman Sachs has started laying off employees in a cost-cutting drive, with around a third or 3,000 people likely to be let go. This is around 5 percent of Ciscos total headcount of 83,000. This comes after the company announced a hiring freeze back in May. Tesco is set to restructure its stores which could put 1,600 jobs at risk. Cloud communications company Twilio is laying off about 17% of jobs and closing some offices as part of a restructuring effort to focus on profitability. Stay up-to-date on the latest layoffs across big tech, tech unicorns, and startups. J Sainsbury PLC will shut 200 cafes in a shake-up of its in-store dining which is set to impact. According to the reports, there may have been 120 to 150 layoffs overall, or up to 150 employees. The company is permanently closing 16 full-line department store locations across the nation. Automobile company Volkswagen plans to cut up to 4,000 jobs at its plants in Germany. Its also closing retail stores and raising prices on its popular exercise bikes as it faces declining sales and plunging stock prices. Lam Research Corp., one of the three biggest providers of chip-manufacturing equipment in the US, is cutting about 7% of its workforce to reduce expenses in a declining market. Ericsson, the telecom gear maker, plans to cut around 1,400 jobs in Sweden and other countries. February 12, 2022 209 18 209.00 1.2 1.2 March 5, 2022 198 16 196.75 1.1 March 19, 2022 166 -11 180.75 . Twilio is one of the first tech companies to announce a second major staffing reduction in the current economic downturn. It is also closing eight of the John Lewis department stores and four Waitrose supermarkets. The company blamed a clients unexpected decision to end a contract that was unforeseen and out of the control of the Startek organization. The plan will help Olive become profitable more quickly. The company reiterated that the employees who are laid off will remain on the companys recall list and if hired back by the end of 2021, they shall retain their seniority and benefits. Tesla CEO Elon Musk has a super bad feeling about the economy and plans to cut about 10% of salaried staff, but hourly headcount will increase, he said. The company received $150 million in Series C funding on the 21st of April. According to CEO Chris Griffith, We are at a critical stage of the process and this restructuring will be a crucial step to enable us to return to profitability and to focus capital allocations on our mines that are best placed to sustain the business and create employment opportunities over the long term.. The Finnish telecommunications group will cut between 5,000 and 10,000 jobs, or 11% of its workforce, over the next 24 months. Phone: +1 (416) 887 4880 Salaries range from a low of $42,664 to a high of $299,152. Morgan Stanley has cut about 2 percent of its workforce, affecting about 1,600 positions out of its global workforce of more than 81,000 employees. French carmaker Renault plans to cut up to 2,000 engineering and support jobs in France as it shifts into electric cars and hires in different positions. Starry that made a debut on the New York Stock Exchange (NYSE) six month back, has laid off about half its workforce. Bank of America - cut 70 mortgage jobs in Simi Valley, CA. Taxi company Vinasun has laid off more than 2,500 employees, including some 1,800 drivers last year with the Covid-19 pandemic causing the business to shrink significantly. ByteDance is laying off more than 1,000 staff from its edtech businesses. The worlds No.2 fashion retailer H&M will cut 1,500 jobs to reduce costs amid softening demand and a surge in the cost of living. Caixabank, which has become the largest domestic bank in Spain after buying Bankia, is planning to layoff nearly 8,000, a fifth of its workforce and close more than 1500 branches, 27% of its offices in one of the biggest staff overhauls in Spains corporate history. This is in line with a strategy of sharpening our focus on profitability,. Going forward, Olive will focus on its Autonomous Revenue Cycle product and its Utilization Management Transformation tool. The online travel services company had 25,400 employees globally. Investment giants like SoftBank, Coatue, and Tencent have backed the Vienna-based startup. Pret a Manger, the sandwich shop chain will cut around 2,800 jobs in stores, and around 90 support staff, on August 31st. of Employees to be Laid off: 300 (10% of employees). #1. Nearly two-thirds of women are delaying their retirement due to inflation Inflation has shaken women's retirement security and confidence, according to a Nationwide Retirement Institute survey of employer-sponsored retirement plan participants and sponsors. The move will allow the company to be more responsive to consumer trends. Foxconn, the major iPhone supplier, has paused its hiring because of a four-day quarantine space shortage. The total number of Starry employees laid off is 508. The payer closed 16 facilities at the end of 2022 and planned to close its remaining seven locations in New York by March 5. #1. Stellantis is shuttering its Illinois plant in February, resulting in indefinite layoffs for 1,350 employees. The tech industry has seen a string of layoffs this year in the face of uncertain economic conditions. Wayfair, the online home goods retailer, is laying off close to 900 employees to reprioritize investment needs and meet the companys current needs. The affected workers will be eligible for two weeks of severance per year of service, job placement support, and access to a talent portal. The cuts mark the start of a three-year cost reduction programme announced in January that will lead to the loss of 10,000 jobs and the closure of 340 branches by 2024. This figure accounts for 10% of its workforce. No. [ Last update: March 02, 2023]. Stryker will close its Florida facility and move these operations to other Stryker locations. India-based cryptocurrency exchange Vauld has laid off around 30% of its workforce as crypto prices have crashed over the recent few weeks, along with the taxation regime and the resultant downturn in trade volumes. At least 90% of Cond Nasts employees will be laid off as a result of the decision. The job cuts would lead to about $1.4 billion to $2.1 billion in charges, while only about $800 million to $1 billion will be recorded in the fourth quarter. Amazon will work closely with the impacted employees and help provide support, including assisting in finding new roles. The company came under pressure from shareholders after its stock dipped 10% last year. Thousands of workers many of whom were asleep received a text message from the company saying that they were laid off effective immediately and were no longer allowed to return to work. Netherland-based lender Rabobank has plans to cut its workforce by 5000 over the next five years. The layoffs come as the company suffered a net loss of 1.6 billion euros (USD 1.7 billion) in 2022. around 2,000 workers. Whispir, a cloud-based Australian communications tech company that offers a platform for everything from crisis management to marketing, has let go of 30 percent of its workforce. No. Cloud Data Management company NetApp will lay off 960 employees during the next three months, amounting to 8% of its workforce. The cuts are across multiple business functions in the company, with the bulk of the jobs lost in the U.S. No. Opendoor Formerly known as Fiat Chrysler the company has cited microchip shortage that has impacted not just the auto industry, but other industries as well, for the job cuts. Pentair, a multinational water supply, distribution, and treatment corporation, will close its facilities in Brookfield and Pewaukee, resulting in 210 job eliminations. No. The U.S. telecom and media giant also plans to permanently close over 250 stores, which would impact about 1,300 retail jobs. Clear Capital, a real estate valuation technology company and firm, is laying off 27% of its staff months after freezing mass hiring. Dutch consumer electronics and medical equipment makerPhilips is cutting 6,000 jobs worldwide over the next two years. The workforce reductions come as the online used-car retailer faces an economic slowdown and an uncertain future. The Community of Madrid will invest half a million euros this year in the purchase of works of contemporary art. Meanwhile, 50% of firms are anticipating a reduction in . The company plans the restructuring actions to realign and simplify its business structure, bring a stronger focus to serving customers, enable a more competitive cost model, and better position the company for future growth and improved profitability. Sema4, a Stamford-based genomic-testing biotech company, has laid off approximately 500 jobs, closed its Stamford laboratory, and ended reproductive health testing. The company has gone through a number of challenges, including a sale of its marketed drugs portfolio in 2019 and an FDA rejection for a key prospect last year. It dropped nearly 5% further in premarket trading on Jan. 21. of Employees to be Laid off: 58% of Employees. Humana is laying off at least 1,162 employees in two states following the decision to close all its SeniorBridge home care facilities nationwide. Clear, the India-based fintech SaaS platform, has joined the list of startups resorting to downsizing amid a decline in funding this year. The company also reported a net loss for 2020 of 109 million (96million), having made a 1.15 billion net profit the year before. Opendoor is letting go of about 550 people, or 18% of the company, across all functions, Increasing mortgage interest rates and inflation are largely responsible for the decreased demand that has led to slowdowns in business. Under general supervision, the Business Development Manager, Inside Sales (BDM) is responsible developing, servicing and growing a sales territory through an inside sales approach that consists of an assignment of targeted brokers. The layoffs will affect about 450 employees out of the companys global workforce of over 5,500. The layoffs. Canadas No. The reduction was made across all of Starrys markets and divisions, including corporate/administrative, sales, marketing, engineering, manufacturing and construction roles. Those in other countries would be intimated in due course since the process would have to abide by local laws and practices. The company is also considering strategic alternatives to its financial woes, including the possibility of selling or merging. Calling the affected employees hard-working, talented colleagues, Chief executive Eric Yuan said they would get an email if they are based in the US, and all non-US staff will be informed following local requirements. No. The retailer plans to save money and invest in improving its food ranges. Products underwritten by Nationwide Mutual Insurance Company and Affiliated Companies. Pollen, a UK-based travel and entertainment technology company that brands itself as a tech-first company laid off a third of its workforce about 200 people. The layoff also adds to the 2,500 employees the company planned to lay off earlier this year after it overshot its growth strategy. American Airlines Group is laying off over 19,000 employees as scheduled, in addition to thousands more who left the company or agreed to voluntary furloughs. Yahoo CEO Jim Lanzone said that these changes will be tremendously beneficial for the profitability of Yahoo overall. No. The firm blamed the layoffs on a seismic shift in public and private markets. You can rely on our financial strength and stability. Swedish home appliances maker Electrolux on Friday announced that it would cut up to 4,000 jobs as part of a restructuring programme, as the company reported heavy third quarter losses. With these actions, along with ongoing systems and supply chain investments, the company is on track to achieve its goal of $250-300M in annual run-rate cost savings by year-end 2025 to drive profitability and reinvestment in core brand growth. Costa Coffee, which has over 2700 stores across the UK, has cut 1,650 jobs. of Employees to be Laid off: 80% of Employees, Reverse Mortgage Funding, LLC has laid off 80% of its staff. The estimated job cuts are being spread across the organization globally. The French multinational investment bank and financial services company are to cut as many as 3,700 jobs as part of a plan announced last year to merge its domestic retail operations and boost profitability. The Companys revenue, the political situations worldwide, rising fuel prices, global inflation, and fluctuations in foreign exchange. Zymergen, a chemical and bio-manufacturing company, is shutting down two programs, triggering a wave of lay-offs. The majority of the job cuts are expected to be among Fords salaried ranks in the United States and the Ford Blue unit created in March to run the companys internal combustion engine operations.