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Topic: Layoffs

It's also slowing down its hiring plans, according to 'The Wall Street Journal.' News 

Reddit to Lay Off 5% of Employees

Adriana Marais, , ,

As part of its restructuring, Reddit plans to lay off 90 employees, which accounts for approximately 5% of its current workforce of 2,000 employees, according to an email from company chief Steve Huffman as reported by The Wall Street Journal. In addition, Reddit is slowing hiring this year, reducing the hiring of new employees to 100 from the 300 it originally planned. Apparently, the social network wants to focus on achieving its biggest goals, like breaking even next year. Huffman reportedly wrote in an email that Reddit has had “a…

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Tech companies including Meta Platforms have been slashing jobs after aggressively hiring during the pandemic News 

Reddit to Reduce Staff by Approximately 5 Percent

Adarsh V.K, , ,

On Tuesday, Reddit announced that it will be reducing its workforce by approximately 5%, which equates to 90 employees. This move puts Reddit in line with other technology companies that have been downsizing their staff in the corporate sector. Tech companies including Meta Platforms have cut jobs during the pandemic after aggressive hiring as the industry braces for an economic downturn. Facebook owner Meta cut jobs in its business and operations units last month as it implemented the latest in a trio of layoffs, the first of which it announced…

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She also advocated for governments to bolster "social safety nets" for workers affected by the adoption of AI AI 

IMF Chief Economist Gita Gopinath Warns of Potential Job Market Disruptions from AI

Febin Mathew, , , ,

According to the Financial Times, Gita Gopinath, the First Deputy Managing Director of the IMF, has cautioned about the significant disturbances that could arise in labour markets due to generative artificial intelligence. She has urged policymakers to promptly establish regulations to manage this technology. “We need governments, we need institutions, we need decision-makers to act quickly on all fronts, in terms of regulation, but also in preparing for possible major disruptions in the labor market,” Gopinath said in an interview with the Financial Times. It also urged governments to strengthen…

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

2023’s Major Tech Company Layoffs

Nitin Misra, , , , , , , ,

The tech sector is facing a challenging time due to the convergence of a struggling economy, the COVID-19 outbreak, and some apparent business errors. Unfortunately, the number of job losses has increased in 2023, following the cuts made in the previous year. Keeping track of these developments can be difficult, but we have collated all the significant layoffs in a single location and will keep updating this article as the situation progresses. June Spotify hairstyles Spotify continued its layoff plans in January and announced in June that it would cut…

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