layoffs

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Tesla Laying Off 10% of Employees
Tesla Laying Off
10% of Employees
Apr 15, 2024 11:43 AM CDT

Tesla Laying Off 10% of Employees

Elon Musk delivers the news amid recent slump in sales

(Newser) - Elon Musk delivered an unwanted email to Tesla employees on Monday—the company is laying off 10% of its employees worldwide, reports electrek . That would amount to about 14,000 employees, based on Tesla's most recent annual report.
  • "There is nothing I hate more, but it must be
...

RNC 'Bloodbath' Underway, Dozens Fired: Report

'MAGA is now in control of the Republican Party!' raved Marjorie Taylor Greene

(Newser) - It's been just a few days since the Republican National Committee welcomed its new leadership —including Lara Trump, daughter-in-law of former President Trump—but big moves are already afoot. Politico reports on a "bloodbath" at the RNC, with sources telling the outlet that more than five dozen...

Sony Slashes Gaming Jobs
Sony Slashes Gaming Jobs
Feb 27, 2024 12:01 PM CST

Sony Slashes Gaming Jobs

Company to drop 8% of workforce, close London's PlayStation Studio

(Newser) - Sony will cut about 900 jobs in its PlayStation division, or about 8% of its global workforce, becoming the latest company in the technology and gaming sector to announce layoffs, per the AP . Sony cited changes in the industry as a reason for the restructuring. "The industry has changed...

BuzzFeed Selling Off Complex, Laying Off Workers

Remaining workforce will be reduced by 16%, company announces

(Newser) - The latest layoff news comes from BuzzFeed, which is planning to reduce its workforce by 16%, which amounts to dozens of employees being let go, per the Guardian . The reduction will apply to the media group's remaining workers, as the company also just sold off Complex, a publisher it...

Cisco Systems Announces Mass Layoffs
Cisco Systems Announces
Mass Layoffs
Feb 15, 2024 12:30 AM CST

Cisco Systems Announces Mass Layoffs

More than 4K employees to be let go, following 2022 layoffs of 5K

(Newser) - Internet networking pioneer Cisco Systems is jettisoning more than 4,000 employees, joining the parade of technology companies in a trend that has helped boost their profits and stock prices while providing a sobering reminder of the job insecurity hanging over an industry increasingly embracing artificial intelligence, the AP reports....

Snapchat Owner Is Decimating Workforce

Snap Inc. is laying off around 10% employees worldwide

(Newser) - The owner of Snapchat is cutting approximately 10% of its worldwide workforce, or about 530 employees, the latest tech company to announce layoffs. Snap Inc. said in a regulatory filing that it currently estimates $55 million to $75 million in charges, mostly for severance and related costs. It expects the...

Yes, Getting Fired on TikTok Is Now a Trend

Amid tech layoffs, remote workers are metaphorically packing up their desks online

(Newser) - Remote work has made getting laid off from a job a lonely affair. As people virtually pack up their desks, there are no rounds of drinks from commiserating co-workers or a chance for personal goodbyes. Young workers are bridging this gulf, the New York Times reports, by streaming recordings of...

Day After Mass Layoffs, a Suit Against the Messenger

'Business malpractice and human cruelty at an epic scale,' media veteran says of news site's shuttering

(Newser) - Just a day after finding out they were getting laid off en masse, staffers at the Messenger are suing. Politico reports that a class-action complaint was filed Thursday on behalf of ex-producer Pilar Belendez-Desha "and all others similary situated," claiming that Belendez-Desha and the 300 or so other...

Site Closure Caps a Gloomy January for Media
Another News Site Goes Bust
Feb 1, 2024 11:05 AM CST

Another News Site Goes Bust

The Messenger shuts down less than a year after launch with big ambitions

(Newser) - Add another media casualty to the new year: The digital news site the Messenger abruptly went belly-up on Wednesday, after less than a year in business, reports the New York Times . The site founded by Jimmy Finkelstein, who previously owned the Hill and The Hollywood Reporter, launched in May with...

To Save $1B, UPS Cuts Thousands of Jobs

Company slashes 12K workers amid higher labor costs

(Newser) - UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply at the opening bell, per the AP . The company also hinted that its Coyote truck load brokerage business may be put up for sale. The Teamsters in September voted to...

It's Been a Brutal Stretch for the Media Industry
It's Been a Brutal Stretch
for the Media Industry
the rundown
Jan 26, 2024 1:41 PM CST

It's Been a Brutal Stretch for the Media Industry

Massive cuts at 'Los Angeles Times' are just one part of the picture

(Newser) - The Los Angeles Times laid off 20% of its workforce this week, a devastating blow to its newsroom, and it's only the latest such move by mainstream outlets in the last week or two as the industry reels:
  • Business Insider said Thursday it will cut 8% of its staff,
...

eBay Staff Told to Work at Home Today for 'Space and Privacy'

9% of its workforce will be laid off, CEO Jamie Iannone said Tuesday

(Newser) - The bloodletting in the tech sector continues to creep into 2024. On Tuesday, eBay employees were told via an internal letter that the company will shave its workforce by 9%, or by about 1,000 full-time jobs, reports CNBC . CEO Jamie Iannone blamed a mismatch between "overall headcount and...

'Seismic' Layoffs Rock Los Angeles Times

Young journalists of color disproportionately affected

(Newser) - The Los Angeles Times carried out mass layoffs this week, reducing its newsroom staff by more than 20%. The Guardian reports 115 journalists lost their jobs; the president of the guild that represents the newspaper's unionized members says 94 members lost their jobs, and that while the number is...

Sports Illustrated Just Laid Off Most of Its Staff

Magazine's future is unclear

(Newser) - Since 2019, the Arena Group has paid a licensing fee to have the rights to publish Sports Illustrated, owned by Authentic Brands Group. Earlier this month, red flags started popping up that indicated Arena had missed a $3.75 million quarterly payment on the first of the year, with a...

After Embezzlement, Indie Paper Has to Lay Off Everyone

Oregon's 'Eugene Weekly' has to cease printing after finding out ex-worker embezzled $90K

(Newser) - "Where's the Damn Paper?" reads the bold headline from a Thursday editorial in the Eugene Weekly, a local alternative newspaper that's served Oregon's second-largest city for more than four decades. The question was posed after the free publication ceased its print edition, following the discovery of...

Nike Looks for $2B in Cuts
Nike Plans Layoffs, $2B in Cuts
Dec 23, 2023 12:10 PM CST

Nike Plans Layoffs, $2B in Cuts

Company lowers forecasts based on weakening global demand

(Newser) - After slashing its annual sales forecast to 1%, Nike announced it's going to make $2 billion in cuts. An executive said that goal will be reached through layoffs and increased automation, NPR reports. Decreased demand in China, particularly affecting online sales, and Europe are behind the low projection, Chief...

'Essentially Flat' Sales Lead to Etsy Layoffs

Around 11% of workforce will be cut

(Newser) - Gross merchandise sales have stayed "essentially flat" on Etsy for two years, while employee expenses have grown despite the company taking cost-cutting steps—which is why, as staff learned on a Wednesday livestream, the online retailer is cutting its workforce by about 11%. The company is laying off 225...

Hasbro Laying Off Almost 20% of Workers
Hasbro Announces
Mass Layoffs
Dec 12, 2023 1:30 AM CST

Hasbro Announces Mass Layoffs

Nearly 20% of employees will be let go

(Newser) - It's not a very merry Christmas season for one of the world's biggest toy makers: Hasbro told employees Monday that it would be laying off almost one-fifth of its workforce over the next year and a half to two years. Some had already been notified their positions would...

Spotify Staffers Walk Into Bad News on Monday

Company announces it's laying off 17% of its workers, the 3rd round of layoffs this year

(Newser) - Spotify is about to get smaller—17% smaller. The streaming music service announced its third round of layoffs this year in a Monday blog post from CEO Daniel Ek, who called the downsizing a "strategic reorientation," the AP reports. Ek noted that the new "leaner structure" would...

Nokia Is Cutting Up to 14K Jobs
Nokia Announces Big Job Cuts
Oct 19, 2023 11:42 AM CDT

Nokia Announces Big Job Cuts

Up to 14K will be laid off amid 'market uncertainty' in the telecoms business

(Newser) - Telecom gear maker Nokia said Thursday that it's planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The Finnish company, one of the world's main suppliers of...

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