Nestle plans to shut its confectionery factory in Newcastle with the loss of 474 jobs. ByteDance is mainly cutting in business units that offer after-school tutoring services for primary and middle school curriculum courses. This move will impact about 5000 jobs. Amazon will lay off 9,000 more employees in the coming weeks, CEO Andy Jassy said in a memo to staff. The layoffs will affect corporate and field workers across all departments except the parking division. Meta cut 11,000 jobs Wednesday in the biggest tech layoff of 2022. Hirect, a chat-based direct hiring platform for startups, has laid off 40% of its employees in what the company termed an organizational restructuring and a strategic change in its business model. 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. Copyrights 2023 All Rights Reserved by Intellizence, Inc. Job listing website Indeed.com will cut approximately 2,200 employees, i.e., almost 15% of its total workforce. Timeshare giant Marriott Vacations Worldwide is to lay off roughly 3,300 associates, as per the regulatory filing. Richard Kramer, CEO of the company, said, While our businesses have performed at a high level through the volatility of the past several years, the uncertain near-term macroeconomic outlook and continuing impacts of inflation make these difficult actions necessary to position our business for future success.. around 10 percent of the companys workforce. The e-commerce companyhad cut 500 jobs nearly 15% of its workforce in August 2022. Crypto company Huobi has canceled all year-end bonuses and will lay off nearly 600 people, almost half of its team. Costa Coffee, which has over 2700 stores across the UK, has cut 1,650 jobs. Getir, the $12B instant delivery startup, plans to lay off 14% of staff globally and cut aggressive expansion plans. Metco Landscape has let go of 343 workers across five locations, as notified to the Colorado Department of Labor and Employment. Read next: California mortgage firm lays off more than 50 workers. of Employees to be Laid off: 30% of Employees. The Finnish telecommunications group will cut between 5,000 and 10,000 jobs, or 11% of its workforce, over the next 24 months. Retail brokerage firm Robinhood is cutting back staffing levels, citing duplicate roles and job functions after rapid expansion last year. According to an SEC filing, the reduction in headcount is part of the companys ongoing efforts to drive towards profitable growth.. With an FDA approval last February, Lundbecks Vyepti, a CGRP inhibitor infusion, launched right into the pandemic and a migraine market thats now filled with injectables and oral options by Big Pharma players. of Employees to be Laid off: 700 (3% of Employees). The 140-year old credit company Provident Financial is withdrawing from doorstep lending, putting over 2,100 jobs at risk. of Employees to be Laid off: 6% of Employees. Vroom, an on-demand car buying and selling startup that has raised over $300 million in venture funding, has laid off more than 2700 of its staff. Spains second-largest bank BBVA is planning to shed 3,800 jobs, affecting 16 percent of its staff. They range from Tesla and JPMorgan Chase to Redfin and Coinbase. Bank of America - cut 70 mortgage jobs in Simi Valley, CA. Xiaomi, the Chinese smartphone manufacturer, has laid off about 900 people, affecting about three percent of its over-32,000-strong workforce. Wipro company fired 300 workers after they were found moonlighting the term is used for workers who have secretly taken a second job, that is, without letting their primary employer know. Oct . It is restructuring its operations in India to curb losses. The online car retailer also sent an email to workers from CEO Ernie Garcia III that said most of the cuts would be in the companys operations division. Bloomberg Surveillance, covering the latest news in finance, economics and investments. Earlier their chief executive had stepped down less than three months after taking the position. Santander Bank LLC, a Spain-based global banking group with more than 145 million customers in the US, will have laid off more than 50 employees by the first week of April, according to a state regulatory filing.Mar 2, 2022. Santander prepares to make cuts to its workforce across Europe as part of a plan to save $1.2 billion in two years. She subsequently sent answers to MPAs questions on Wednesday morning. The Dixie Group is consolidating its East Coast tufting operations to its existing plant in Dalton, Georgia, and cutting its staff by 20% this year in response to the weakening floorcovering market. However, the companys CEO Ioannis Giannaros responded to Axios request, claiming, Were still operating but will be scaling back to plan our next steps., No. The company will begin notifying workers of its plan, which includes up to 6,000 redundancies. Pros. The company has signed an agreement to this effect and will close 1,033 branches in . Vacation rental management company Vacasa has laid off 1,300 employees to stabilize the faltering Portland company. This comes after the company announced a hiring freeze back in May. The cuts come just four months after Hopin let 12% of its workforce go earlier, citing a goal of sustainable growth amid the changing market. 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. Banco Santander SA, a leading retail and commercial bank, plans to lay off as many as 3,572 jobs in Spain. Payments startup Bolt Financial will lay off about 250 employees, which is equivalent to a third of its workforce. The cloud-based software firm Salesforce plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with an increased workforce amid an economic slowdown. As part of the revamp involving a management reshuffle, and to bring our costs more in line, weve made the difficult but necessary decision to reduce our number of employees, Ek wrote. Coca-Cola Co. will cut 2,200 jobs globally, including 1,200 in the United States, as the company accelerates its business restructuring. of employees Laid Off: 5,000 10,000. On Jan. 4, Amazon announced it . Clancys post states that the choice to terminate the employees was difficult and was made only after considerable thought.. The move will affect about 9% of full-time employees. Send, a grocery delivery app that was founded in the midst of the COVID-19 pandemic has collapsed into voluntary administration. Stanford scholar explains. CEO Daniel Ek announced the restructuring in a message to employees that was also posted online. Israeli-US data protection platform OwnBackup to lay off 17% of its employees (170). A possible civil penalty of $500 a day for each day of violation. It had closed its bases in Madrid and Mallorca prior to the COVID-19 pandemic. The move comes a week after the company reported weaker-than-expected third-quarter results. Peoples headquarters will become M&Ts New England regional headquarters, once the deal is completed. of Employees to be Laid off: 30% of its Employees. Peloton will lay off about 2,800 employees, including about 20% of its corporate positions to help reinvigorate the flailing fitness company. PayPal will cut about 7 percent of its workforce or about 2,000 full-time workers. Barcelona, Gran Canaria and Tenerife. 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. The company requires 1,00,000 new workers to get back to full capacity, but due to a shortage of quarantine space, it has frozen the hiring. Sema4, the AI-backed genomic and clinical data company, has laid off around 250 workers, about 13% of its workforce, as part of a larger restructuring. Deutsche Bank will cut up to 450 full-time and contractor jobs at its office in Dublin. The company is also reducing the number of warehouses it owns and operates, and expanding delivery agreements with third-party providers, which will help the company save $800 million in annual costs. US jet engine maker Pratt & Whitney is set to stop manufacturing compressor blades at Blades Technology Ltd. (BTL) in Nahariya after more than 40 years. The company has signed an agreement to this effect and will close 1,033 branches in the country, the CCOO union said in a statement. The company creates travel experiences related to music events for people, and patterns with music festivals to drive bookings through its platform. Around 75 percent of Bengaluru-based health tech business MFines personnel have been let off tin May. DHL Supply Chain is laying off 394 workers across two of its facilities in Livermore, California, according to Worker Adjustment and Retraining Notification Act notices dated Dec. 14. Amazon to lay off over 18,000 employees, the highest at a major technology company, as the industry pares back amid economic uncertainty. About U.S. Bank: US Bancorp (aka US bancorp) is a large bank holding company with the headquarters located in Minneapolis, Minnesota. The layoffs will affect all divisions. Returning CEO Bob Iger aimsto cut more than $5 billion in costs by consolidating divisions that make and distribute movies and TV shows. No. Here is the list highlighting the latest major layoffs announced by leading companies, with a particular emphasis on technology layoffs. Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly, a Microsoft spokesperson. 3M had laid off 1,700 workers during its second-quarter with many of the jobs related to the companys divested drug delivery business. No. The global food manufacturer is holding talks with employees at the Fawdon plant but the focus was now on closing it in 2023. No. The Iowa-based Wells has planned to scale back operations by reducing its production lines from about 20 to five. 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. Food delivery platform Just Eat Takeaway unveiled plans to axe more than 1700 delivery drivers as the food delivery business wrestles with a slowdown in demand. Amazon ( AMZN) CEO Andy Jassy . CEO Wood said in a email, GE Appliances has invested in new technology and products to keep the company competitive for the long term. British energy giant BP is to lay off close to 10,000 jobs, or almost 15 percent of its global workforce, most by the end of the year, after the coronavirus pandemic reduced the demand for oil. This was the reason for it to alter its workforce in response to this shift. As many as 1,400 roles will be impacted. Truck brokerage company C.H. In uncertain economic times, the company plans to refocus on large enterprise clients, a business area that is growing strongly. The companywill incur about $25 to $30 million in restructuring and related charges due to layoffs. The company is encouraging laid-off employees to apply for open positions. MADRID, Dec 16 (Reuters) - Santander has reached agreement with unions to lay off 3,572 employees and close 1,033 branches in Spain as part of a sweeping cost-cutting plan, a spokesman . The large-scale layoffs began in mid-January, starting with R-Lab, the innovation arm of Didi, followed by ride-hailing, bike-sharing, and freight businesses. More than half of the jobs to be cut will be in its non-billable corporate functions, Accenture said on Thursday, sending its shares up 6.4%. of Employees to be Laid off: 30% of employees. of Employees to be Laid off: 40% of employees. Intellizenceoffers the latest Layoffs, Downsizing, Job Cuts, and Hiring Freeze data for market intelligence, customer intelligence, sales intelligence, and risk intelligence activities. Tencent laid off nearly 5,500 employees from its payroll last quarter. Software-as-a-Service provider FarEye has laid off around 250 employees at the time of their appraisal. About 2,800 employees, which has over 2700 stores across the UK, has off... It to alter its workforce or about 2,000 full-time workers spains second-largest bank BBVA is planning to shed 3,800,., covering the latest news in finance, economics and investments the highest a... Economic times, the Chinese smartphone manufacturer, has Laid off: 30 % of employees to be Laid around. Is planning to shed 3,800 jobs, affecting 16 percent of its.. 11,000 jobs Wednesday in the midst of the COVID-19 pandemic has collapsed into voluntary administration it had its... 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