The pink slips are flying this week at Walt Disney Co. as the entertainment giant seeks to slash billions of dollars in costs. CEO Bob Iger confirmed in a staff email Monday that a first round of layoffs has begun.…
Telecom giant Ericsson says Europe’s industry structure is ‘probably unsustainable’
The chief executive of Swedish telecom company Ericsson on Monday warned Europe’s industry structure is likely unsustainable, calling for consolidation across the region to boost competitiveness. The comments come shortly after the company, which is one of the world’s biggest…
Dell to lay off 5% of its workforce
Dell plans to lay off roughly 5% of its workforce, the company said in a regulatory filing Monday, in the latest example of tech companies cutting costs in an uncertain economic climate. As of January 2022, Dell said it had…
Spotify to cut 6% of workforce, some 600 employees
Swedish music streaming giant Spotify said Monday it was cutting six percent of its roughly 10,000 employees, the latest cost-cutting announcement among technology companies. “In hindsight, I was too ambitious in investing ahead of our revenue growth. And for this…
Microsoft to axe thousands of jobs in latest cull by tech giant
Microsoft is preparing to axe thousands of jobs in the latest move by one of the world’s biggest technology companies to reduce its workforce in the face of a slowing global economy. Sky News has learnt that the US software…
Amazon CEO says company will lay off more than 18,000 workers
Amazon is laying off 18,000 employees, the tech giant said Wednesday, representing the single largest number of jobs cut at a technology company since the industry began aggressively downsizing last year. In a blog post, Amazon CEO Andy Jassy wrote…
Elon Musk says Twitter will offer ‘amnesty’ to suspended accounts
Elon Musk says Twitter will provide a “general amnesty” to some suspended accounts from next week. This came after he started a poll on Wednesday asking Twitter users whether accounts that had “not broken the law or engaged in egregious…
Facebook’s parent company, Meta, to lay off more than 11,000 employees
Meta will lay off more than 11,000 employees, CEO Mark Zuckerberg told workers in a message Wednesday. The layoffs will reduce the company’s workforce by about 13%, according to Meta, the parent company of Facebook, Instagram and WhatsApp. “I want…
Facebook parent Meta is preparing large-scale layoffs his week, say media
Meta Platforms Inc. is planning to begin large-scale layoffs this week that will affect thousands of employees, The Wall Street Journal reported on Sunday, citing people familiar with the matter, with an announcement planned as early as Wednesday. Meta declined…
Jack Dorsey takes responsibility for Elon Musk’s mass layoffs at Twitter
Jack Dorsey, Twitter’s co-founder and former CEO, responded to the mass layoffs under Elon Musk’s ownership by saying he owns “the responsibility for why everyone is in this situation” and that he grew the company “too quickly.” On Friday, Musk…