Meta is among the first major IT businesses to carry out a second wave of layoffs. In the end, more than 150,000 jobs were lost by the end of 2022. According to a Reuters report, Facebook parent firm ...
Tag: Personnel
“The government has about 48 hours to fix a-soon-to-be-irreversible mistake”: Bill Ackman warns some businesses may not be able to meet payroll after SVB’s failure
“The government has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowingSVB Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is ...
Silicon Valley Bank staff offered 45 days of work at 1.5 times salary by FDIC
Staff of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, Reut...
GM to Axe Hundreds of Jobs. But It’s Not About Cutting Costs.
General Motors is cutting salaried and executive staff positions, after saying earlier this year that it didn’t plan layoffs. GM (ticker: GM) representatives on Tuesday said the cuts affected a small ...
The Only 401(k) Savers Who Didn’t Lose Money in The Past Year
The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments. While the average nest egg among Fidelit...
One laid-off tech worker’s odyssey: 5 months, 25 interviews, 100 job applications
At times, Todd Erickson’s search for a tech job felt more like an odyssey. But after five months, about 100 job applications and more than two dozen interviews with recruiters and companies — includin...
Carvana Posts Wider Q4 Loss. Used Car Demand Tumbled.
Online used-car dealer Carvana (ticker: CVNA) missed fourth-quarter earnings and revenue expectations and announced plans to cut about $1 billion in costs over the next six months while improving cust...
Amazon’s Stock Slump Is Hitting Employee Pay
It’s not just layoffs casting a cloud over Amazon Its share-price fall is also hitting employees’ pay, forcing the company to reassure its workers about the likelihood of a rebound. Amazon ‘s (ticker...
As Big Tech cuts workers, other industries are desperate to hire them
Workers who jumped from one high-paying job to another as Big Tech companies staffed up at a dizzying pace in recent years are now considering leaving the sector entirely as those same large employers...
Ghosting your job candidates? You better watch out — it might come back to bite you later.
If you’re in the process of hiring new workers, be wary of ghosting your candidates. The Conference Board surveyed more than 1,100 workers to weigh in on their job hunting preferences, hiring practice...
Tech Layoffs Hit H1B Visa Workers Hard
When she lost her job at Google last month, Jingjing Tan started worrying about her dog, an energetic, 75-pound German shepherd. As a foreign worker living in the U.S. on a temporary work visa, if she...
Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs. Nelson Peltz Declares Victory.
Walt Disney stock jumped after the entertainment company topped earnings expectations, while also announcing it was planning to cut jobs and reinstate its its dividend. Disney (ticker: DIS) reported n...
Affirm Stock Drops. Company Slashes 19% of Jobs After Earnings Miss.
Affirm Holdings, a buy-now, pay-later fintech, is slashing 19% of its workforce after missing expectations for both its second fiscal quarter and its immediate outlook. Founder and CEO Max Levchin sai...
Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs. The Stock Jumps.
Walt Disney stock jumped on Wednesday after the entertainment giant topped earnings expectations, while also announcing it was planning to cut jobs and reinstate its its dividend. Disney reported non-...
Affirm to lay off 19% of staff, stock tanks after earnings disappointment
Affirm Holdings Inc. announced plans to cut 19% of its staff Wednesday following an earnings report in which the buy-now-pay-later company came up shy with both its results and outlook. “The root caus...
Hong Kong securities regulator adds crypto personnel for industry supervision
Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry. According to a Securities and Futures Commission report filed on Feb. 6, it plans...
Dell to cut 6,650 jobs, report says
Dell Technologies will join the ranks of technology companies slashing jobs as the computer maker will shed 6,650 positions, according to a published report on Monday. Citing a company spokesman after...
Intel cuts pay, bonuses and other benefits while maintaining dividend
Intel Corp. continues to cut costs for everything except payments to investors. Intel INTC, +2.87%, which is already in the process of cutting what is believed to be thousands of jobs amid steep decli...
IBM’s layoffs aren’t helping the stock, as analysts still fret about cash flow
International Business Machines Corp. shares slumped Thursday after analysts picked apart Big Blue’s free cash flow results and outlook amid layoffs, and found a “mixed blessing” in the company’s driv...
Opinion: Marc Benioff’s Salesforce fairy tale is crumbling down around him
Salesforce Inc. has been a unique tech company, able to sell itself as a “family” that has higher ideals than just profit to its employees while generating near-universal praise from Wall Street as we...