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Topic: Layoffs

The popular dating app Bumble is laying off about 350 employees after a disappointing first quarter revenue. News 

Bumble to Lay Off 350 Employees in 2024 Due to Decrease in User Spending

Febin Mathew,

Bumble said Tuesday it would cut about 350 roles, marking the first major move by new CEO Lidiane Jones after the online dating company forecast disappointing first-quarter revenue as it grapples with a slowdown in user spending. Shares of the Austin, Texas-based company that offers dating apps such as Bumble, Badoo and Fruitz fell more than 7% in extended trading. Bumble expects to incur approximately $20 million to $25 million in one-time costs related to the job cuts, most of which will be recorded in the first two quarters of…

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Meta and other tech companies have reduced the workforce during the period and now Zuckerberg gets candid about some of these decisions. News 

Mark Zuckerberg Explains the Reasons Behind the Surge in Tech Layoffs Over the Past 2-3 Years

Adriana Marais, , ,

Tech companies have been laying off from 2021 until 2023, and early signs this year suggest it won’t be slowing down anytime soon. The likes of Google, Amazon and even Meta have pulled the plug on several projects, cut product teams and rethought their plans for the future. So what are the main reasons for these layoffs and when will it end? Meta CEO Mark Zuckerberg has shared his views on this matter in a recent interview, where he also walks us through the strategy of tech companies in recent…

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Zoom is the latest tech company to cut costs this year and that invariably comes with hundreds of people laid off. News 

Tech Companies Continue to Cut Costs, Resulting in Zoom Laying Off 150 Employees

Adarsh V.K,

Zoom is laying off almost 150 employees, or less than 2 percent of the company’s workforce. Zoom said the layoffs are not company-wide and will continue to hire for AI, sales, product and operations roles in 2024. “We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson told CNBC. opinion. “As part of this effort, we are switching roles to increase capacity and continue to recruit in critical areas for the future,” the spokesperson added. Last February, Zoom cut about 1,300 jobs, or about 15 percent…

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eBay, the popular e-commerce platform, has announced its decision to lay off approximately 1,000 employees, representing 9% of its total full-time workforce. News 

eBay Announces Plan to Reduce Workforce by 1,000 Employees in 2024, Citing the Necessity for Transformation

Adriana Marais

The start of 2024 has heralded a number of major workforce reductions in the technology industry, affecting prominent organizations such as Google, Amazon and Bytedance. And it’s highly likely that these layoffs will continue, as technology leaders including Google CEO Sundar Pichai have hinted. Now, newly developed popular e-commerce platform eBay has announced its decision to lay off about 1,000 employees, representing 9 percent of its full-time workforce. In addition, the company plans to lay off an undisclosed number of contract workers in the coming months. eBay says there is…

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Tech layoffs 2024 are in full force where even big giants like Google and Amazon are not out of the limelight. News 

Tech Companies Lay Off Over 7000 Employees Within First Month of 2024

Sanjay Patil

The big tech layoff season is probably starting sooner than many of us expected, but it’s already happening. In fact, according to the data platform, more than 7,000 employees have been laid off by technology companies in just two weeks since the beginning of 2024. Layoff.fyi, which claims to have tracked tech layoffs since COVID-19, has crunched those numbers. What’s interesting to note is that the platform has data for layoffs in 2022, 2023, and 2024, and the latest data clearly points to some major tech sector that should have…

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Amazon.com has begun cutting jobs in its Music division, the company said on Wednesday, confirming the latest of several rounds of layoffs over the past year. News 

Layoffs at Amazon Music: Numbers Unknown, Impact Unclear

Adriana Marais, ,

(Reuters) – Amazon.com has begun cutting jobs at its music division, the company said on Wednesday, confirming the latest in a series of layoffs over the past year that have affected more than 27,000 of the retail giant’s employees. Workers in Latin America, North America and Europe received notices of job layoffs on Wednesday, according to people familiar with the matter. An Amazon spokeswoman confirmed the layoff when contacted by Reuters. He declined to say how many employees were affected. “We have closely monitored our organizational needs and prioritized what…

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Google has decided to let go of about 40-45 individuals from its news division, and per the company, this is due to the company's "internal changes." News 

Google Reportedly Lays Off Employees From News Division

Adriana Marais,

Throughout this year, we saw a number of layoffs at tech companies—companies cutting talent, calling employees back to the office (removing work from home), and even offering minimal raises. Now, after laying off 12,000 people earlier this year, Google has decided to let go about 40-45 more people from its news division, as confirmed by CNBC. “We are deeply committed to a vibrant information ecosystem, and news is part of that long-term investment,” said a Google spokesperson. He added: “We’ve made some internal changes to streamline our organization. A small…

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Google parent Alphabet is laying off employees from its global recruiting team as the tech giant continues to slow hiring, it said on Wednesday. News 

Alphabet Cuts Hundreds of Jobs From Recruitment Division

Febin Mathew, ,

Google parent Alphabet is laying off employees from its global recruiting team as the tech giant continues to slow hiring, it said on Wednesday. The company’s decision to shed a few hundred employees is not part of a large-scale layoff, and it will retain a significant majority of the team for hiring in critical positions. It also helps employees find roles within the company and elsewhere. Alphabet is the first “Big Tech” company to lay off workers this quarter after the likes of Meta, Microsoft and Amazon cut aggressively earlier…

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The company’s also consolidating office space and reducing related expenses. News 

Roku Cuts 300 Jobs and Removes Streaming Content to Cut Costs

Sanjay Patil,

Roku appears to be significantly reducing its spending. According to Variety, the company is letting go of 300 employees, which accounts for ten percent of its workforce. Additionally, Roku is implementing various cost-cutting measures such as eliminating streaming content, consolidating office space, and reducing expenses related to external services. The objective is to achieve a significant decrease in the rate of operating expense growth compared to the previous year. The company hasn’t announced what content it plans to remove from its various streaming platforms, and whether those cuts will come…

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EA is also severing ties with a third-party company that was helping with 'Dragon Age: Dreadwolf.' Gaming 

BioWare Downsizes Staff to Increase Efficiency and Focus

Sanjay Patil, ,

BioWare, the studio behind Mass Effect and Dragon Age, is set to cut around 50 positions as its parent company, Electronic Arts, aims to transform it into a more streamlined and concentrated studio. BioWare’s general manager, Gary McKay, stated that the reorganization was necessary to adapt to the studio’s changing requirements and was deemed unavoidable. “After much thought and careful planning, we’ve built a long-term vision that preserves the studio’s health and allows us to do what we do best: create exceptional story-driven single-player experiences filled with expansive worlds and…

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Suspecting retaliation, the discharged workers have begun a hearing with the NLRB. News 

Google terminates employees who formed a union in the previous month

Adriana Marais,

Last week, approximately 80 subcontractors from Google Help, who had recently voted to join the Alphabet Workers Union-Communications Workers of America (AWU-CWA), received news of their impending layoffs. This week, the group initiated a hearing with the National Labor Relations Board (NLRB) to address the intricate matter of joint employment for contractors. Casey Padron, a general writer on the team set to be laid off in August, expressed her discontent, stating, “It appears to be a clear act of retaliation,” in a conversation with ReturnByte today. The group announced the…

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27% of jobs at high risk from AI! (Bloomberg) AI 

OECD Warns of AI Revolution’s Impact on Employment Levels

Febin Mathew,

According to the OECD, over 25% of jobs within the organization are dependent on skills that could be easily automated in the upcoming artificial intelligence revolution. This has led to concerns among workers who worry about the possibility of losing their jobs to AI. The Organization for Economic Co-operation and Development (OECD) is a 38-member bloc that covers mostly wealthy nations, but also some emerging economies such as Mexico and Estonia. There is little evidence that the emergence of artificial intelligence will have a significant impact on jobs so far,…

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The company carried out steep job cuts less than six months ago. News 

Evernote Moving to Europe Following Reduction of US Staff

Febin Mathew, , ,

Evernote has made significant cuts to its workforce, with the majority of employees in the US and Chile being laid off. Bending Spoons, the app developer that acquired Evernote last year, announced that it plans to relocate most of the company’s operations to Europe. This latest round of layoffs comes after Evernote previously cut 129 positions due to the app’s lack of profitability. The exact number of employees affected by these recent layoffs has not been disclosed, but it has been observed that several software engineers who had been with…

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It’s also canceling ‘NBA All-World’ and ‘Marvel: World of Heroes.’ Gaming 

Niantic to Cut 230 Jobs as ‘Pokémon Go’ Developer Downsizes

Adriana Marais, , , ,

Niantic is set to join the growing number of companies downsizing their workforce. Following the leak of an internal memo to Kotaku, the studio has released an official “organizational update” revealing plans to lay off 230 employees. Furthermore, Niantic will be closing its Los Angeles studio and discontinuing two licensed games, namely NBA All-World and Marvel: World of Heroes. However, fans can take solace in the fact that Pokémon Go, the company’s main product, will continue to thrive. “I’ve made the decision to narrow our focus on mobile gaming investments…

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Amazon, Google and Microsoft are just some of those cutting jobs. News 

2023’s Major Tech Industry Job Cuts

Jim Hendler, , , , , , , ,

The tech industry is facing significant challenges due to a struggling economy, the ongoing COVID-19 pandemic, and notable business mistakes. As a result, job cuts were observed in 2022, but unfortunately, the number of layoffs has increased in 2023. Keeping track of these developments can be challenging, so we have gathered all the major layoffs in one comprehensive report, which will be regularly updated as the situation progresses. June Spotify layoffs Spotify continued its January layoff plans and announced in June that it would cut 200 jobs from its podcast…

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Uber Technologies said on Wednesday it was cutting 200 jobs in its recruitment division amid plans to keep the staff count flat through the year and streamline costs. News 

Uber to Cut 200 Jobs in Recruitment Department

Jim Hendler, ,

Uber Technologies announced on Wednesday that it would be reducing its recruitment division workforce by 200 employees as part of its efforts to maintain a consistent staff count throughout the year and optimize expenses. The cuts affect less than 1 percent of Uber’s 32,700 employees worldwide and come as the ride-hailing company laid off 150 workers in its cargo services division earlier this year. The latest cuts cover 35 percent of Uber’s recruiting team, according to the Wall Street Journal, which first reported the development earlier in the day. Uber…

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Artificial intelligence (AI)-based technologies will take away nearly 8 lakh jobs, or 25 per cent of the total workforce in Hong Kong by 2028, a study has forecast. AI 

Report Predicts 8 Lakh Jobs In Hong Kong Will Be Replaced By AI By 2028

Febin Mathew, , ,

According to a study, Hong Kong’s workforce will experience a loss of approximately 800,000 jobs, which accounts for 25% of the total workforce, due to the implementation of artificial intelligence (AI) technologies by 2028. According to a report by IT recruitment company Venturenix, data entry clerks, administrative staff and customer service representatives are most affected by artificial intelligence. The report also highlighted the impact of artificial intelligence on different industries, such as lawyers and translators. “As AI applications penetrate multiple industries, it will even affect traditional high-paying professions such as…

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The tech company is grappling with reduced demand. News 

Sonos reduces staff by 7 percent

Jim Hendler, ,

Sonos, the popular smart speaker brand, has announced that it will be reducing its workforce by 7%, which equates to approximately 130 jobs. The company has also stated that it will be reevaluating its spending on certain programs and reducing its “real estate footprint.” The cost of these changes is estimated to be between $11 million and $14 million, with up to $11 million being allocated to severance and benefits. Sonos is the latest major tech company to implement staff layoffs. In a statement to ReturnByte, Sonos CEO Patrick Spence…

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It's the latest food delivery service to announce layoffs. News 

Grubhub announces job cuts of 15 percent of its workforce

Jim Hendler, , ,

This year has seen a wave of layoffs in the technology industry, and GrubHub is the latest to join the trend. The company’s CEO, Howard Migdal, revealed that approximately 400 employees, which is equivalent to 15 percent of its corporate workforce, will be laid off. The move is aimed at keeping Grubhub “competitive” in the market. He said, “Over the past few months, I met with Grubhub teams to learn about the business from the ground up; I spoke with restaurants and diners to understand their needs — and challenges…

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As many as 1000 people could lose their jobs as part of its latest cost-cutting drive. (Bloomberg) News 

Byju’s to Cut Staff as Cash Flow Tightens

Adarsh V.K, ,

Byju’s, the biggest ed-tech firm in India, is reportedly planning to terminate the employment of 1000 individuals, following a previous layoff of 5000 employees just six months ago. The Morning Context, as cited by the Economic Times, revealed that Byju’s has 280 tuition centers nationwide, and its marketing managers have been instructed to release two individuals each from sales and marketing. Additionally, approximately 150 marketing managers are anticipated to be let go, as the company aims to reduce expenses and streamline its operations. The news comes after the ed-tech startup…

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