It’s the question every job seeker is dying to ask: “Are layoffs coming?” And for good reason: Thousands of workers in media, tech, logistics, and many other industries have lost their jobs in the last year. No hiring manager or recruiter can guarantee that layoffs will never happen, of course—and even the seemingly most stable … Read more
The US hotel industry has been grappling with inadequate staffing and higher wages — and the problems are expected to push travel costs even higher than they already are. In 2024, hotels across the US are expected to collectively shell out $123 billion in compensation — up more than 20% from 2019, The Wall Street … Read more
The logo of the Alibaba office building is seen in the Huangpu District in Shanghai, June 16, 2023. Costfoto | Nurphoto | Getty Images Chinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish. One bright spot in Alibaba’s latest earnings report was its international e-commerce business unit, which posted … Read more
After months of speculation, Nike confirmed late Thursday that it is laying off 2 percent of its workforce. The move comes after the athletic giant revealed in December that it was taking steps to “streamline” the organization and would look to save up to $2 billion in costs over the next three years. “Nike’s always … Read more
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses â even at some companies that are turning a profit. Barbie maker … Read more
San Francisco: US-based restaurant management software company Toast has announced to lay off around 550 employees or about 10 per cent of its workforce in a restructuring exercise. The company announced the job cuts in its financial results for the fourth quarter and full year ended December 31, 2023. “Toast’s Board of Directors approved a … Read more
The past 18 months have been rough for American workers. Since late 2022, mass layoffs have hit several industries, most notably media and tech, as companies large and small seek ways to reduce costs in order to buoy profits. Now a new report out from small business lending firm Clarify Capital reveals just how anxious … Read more
Earlier this month, Zoom followed in the footsteps of many of its peers in the tech industry and laid off 150 employees—about 2% of its workforce—in an effort to redirect its resources and invest in what the company described as “critical areas for the future.” One of the teams that Zoom deemed superfluous was the … Read more
As videos of layoff experiences flood TikTok, corporate America is seeking guidance to navigate dismissals without provoking social media fury. With candid videos dissecting every detail, from CEOs’ apologetic notes to awkwardly timed announcements, businesses, especially smaller tech firms, are attempting to avoid the repercussions of a public relations disaster, Bloomberg reported. Related: Woman Goes … Read more
Co-founder and CEO of Snap Inc. Evan Spiegel attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., January 31, 2024. Nathan Howard | Reuters Social media company Snap said Monday that it will lay off 10% of its global workforce, or around 500 employees, in part … Read more
