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New Round of Bad News at Disney
New Round
of Bad News
at Disney

New Round of Bad News at Disney

Company is laying off thousands of workers this week

(Newser) - Workers under the Walt Disney umbrella have been bracing for what they have referred to as the "big one" for weeks now, reports Deadline . On Monday, it arrived—a new round of layoffs and the biggest in a series of them that will see the company cut 7,000...

Bed Bath & Beyond Workers Report New 'Punch in the Gut'

First stores closed; now employees say they're being denied severance they thought they'd get

(Newser) - Back in mid-March, a report emerged that Bed Bath & Beyond—which is closing most of its stores and trying to avoid filing for bankruptcy protection —wasn't planning on paying out severance to laid-off workers, even though it had done so during past layoffs. The news came via...

BuzzFeed News Is Dead
BuzzFeed News
Is Dead

BuzzFeed News Is Dead

BuzzFeed is shuttering its newsroom

(Newser) - BuzzFeed News is being shut down, BuzzFeed founder and CEO Jonah Peretti announced in an email sent to staff on Thursday. He wrote that "we are reducing our workforce by approximately 15% today across our Business, Content, Tech, and Admin teams, and beginning the process of closing BuzzFeed News....

For the 2nd Time in 5 Years, Bad News for David's Bridal

70-year-old chain, $257M in debt, files for Chapter 11 bankruptcy protection

(Newser) - For more than 70 years, David's Bridal has served as one of the nation's biggest one-stop wedding party shops, claiming that 1 in 4 brides don its wedding dresses on their big day. Now, however, the Pennsylvania-based chain is $257 million in debt, per court documents, and it'...

Report: With Layoffs Planned, McDonald's Shuts Offices

Company says it wants to ensure 'comfort' during 'notification period'

(Newser) - McDonald's is believed to be planning a round of corporate layoffs this week, but you won't see dejected former employees leaving the company's offices with their belongings in cardboard boxes. According to the Wall Street Journal , the company has temporary closed its US offices during what it...

Zuckerberg on Latest Big Job Cuts: 'This Will Be Tough'

Facebook parent Meta to slash 10K jobs in recruiting, tech, business through May

(Newser) - Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then...

More Meta Layoffs Ahead, Before Zuckerberg's Paternity Leave

Thousands of employees could be let go as soon as this week as company looks to keep flattening

(Newser) - Mark Zuckerberg is set to go on "imminent" paternity leave for the birth of his third child, and another round of his employees are set to go on permanent leave before that, reports Gizmodo . The number of heads to roll isn't clear, but Bloomberg says, citing insiders, that...

Twitter Learns One Engineer Isn't Enough for a Major Project

Engineer's 'bad configuration change' broke the system, Platformer reports

(Newser) - Twitter CEO Elon Musk was "furious" Monday as the platform experienced its "sixth high-profile service outage " of the year, per Platformer . In an "embarrassing technology failure," photos wouldn't load and links led to an error message reading "your current API plan does not...

At Twitter, Another Brutal Weekend for Staffers

Exec who famously slept in her office is among the 10% who lost their jobs

(Newser) - When Elon Musk acquired Twitter in October, it had nearly 8,000 employees. After another surprise wave of layoffs over the weekend, the number now stands at fewer than 2,000, reports the New York Times . Musk laid off about 200 employees Saturday night, or roughly 10% of the company'...

CEO Sorry for 'All Time Classic Bad' Layoff Memo

Quoting MLK was 'inappropriate,' admits PagerDuty CEO Jennifer Tejada

(Newser) - PagerDuty CEO Jennifer Tejada announced she was laying off 7% of the company's workforce seven paragraphs into a 1,700-word email to employees that referred to the firings as "refinements," included news of executive promotions, and concluded with a quote from Martin Luther King Jr. "I...

Spotify Plans Layoffs, After Boss Concedes Miscalculation

Streaming platform will cut about 600 employees

(Newser) - Chief executive Daniel Ek told employees Monday that Spotify has been cutting costs for months. "It simply hasn't been enough," the staff memo said. So about 600 employees, 6% of the workforce, will lose their jobs, the New York Times reports. Government filings show the audio streaming...

More Mass Layoffs, This Time at Google

Alphabet to shed 6% of its workforce, or 12K jobs, citing a 'different economic reality'

(Newser) - Companies are shedding workers like trees shedding leaves and those at Google parent company Alphabet are the latest to feel the winds of change. Citing the "economic reality," the company announced its largest ever job cuts on Friday: It will slash 12,000 jobs worldwide, or about 6%...

Microsoft Added 40K Jobs in 2022. Now, an About-Face

Company on Wednesday announced 10K jobs would be cut

(Newser) - Add Microsoft to the ever-growing list of tech companies announcing 4- and 5-figure layoffs. The company on Wednesday said it would lay off 10,000 employees, or roughly 5% of its 221,000-person workforce, by the quarter ending March 31, with layoffs beginning this week, reports CNBC . CEO Satya Nadella...

Salesforce Cutting Thousands of Workers

10% of the company's staff will be cut

(Newser) - Salesforce is laying off about 10% of its workforce, or nearly 8,000 employees, in the latest round of job cuts in the tech industry as corporations cut back on software and other spending. The San Francisco cloud computing software company will also be closing some offices, according to a...

DoorDash Becomes Next Tech Player to Shed Jobs
The Bloodletting
Comes to DoorDash

The Bloodletting Comes to DoorDash

More than 1K corporate employees were laid off Wednesday

(Newser) - DoorDash shares are down more than 60% for the year but saw a bump on Wednesday after the company announced it was axing 1,250 corporate employees as a cost-cutting measure. CNBC reports it had 8,600 such employees at the end of last year; the AP reports the cuts...

AMC Chief Out After 3 Months, Will Get $10M Severance
AMC Networks Is Having
a Rough Day

AMC Networks Is Having a Rough Day

CEO Christina Spade leaves after 3 months as network announces layoffs

(Newser) - A surprise in the world of cable TV on Tuesday: AMC Networks CEO Christina Spade stepped down after less than three months on the job, reports CNBC . Neither Spade nor the network gave a specific reason, but the company announced large-scale layoffs soon after the announcement was made, per the...

Amazon Is Preparing a Major Round of Layoffs
Amazon's Mass Layoffs
Will Extend Into Next Year

Amazon's Mass Layoffs Will Extend Into Next Year

Company's workforce has doubled to 1.5M since 2019

(Newser) - Amazon's mass layoffs did indeed begin this week, CNN reports, and the company's CEO sent a note to employees Thursday saying they will extend into next year. "I’ve been in this role now for about a year and a half, and without a doubt, this is...

For First Time, Zuckerberg Readies Mass Layoffs

Meta, parent of Facebook, will reportedly lay off thousands of people this week

(Newser) - Twitter employees aren't the only tech staffers facing a bleak November : Facebook parent company Meta is expected to announce its biggest wave of layoffs since Mark Zuckerberg founded it in 2004, reports the New York Times . The numbers are unclear, but Wall Street Journal predicts "many thousands" of...

2 Struggling Businesses Announce Major Layoffs

Bed Bath & Beyond is closing 150 stores, while Snap is discontinuing several apps

(Newser) - Two struggling companies announced major job cuts and other restructuring moves Wednesday—and their stock prices moved in opposite directions.
  • Bed Bath & Beyond. The retailer, known for its 20% off coupons, said it would cut its corporate and supply chain workforce by 20%, and its stock plunged 20% in

Ford Announces 3K Layoffs
Ford Announces 3K Layoffs

Ford Announces 3K Layoffs

Company trims white-collar jobs as part of transition to electric vehicles

(Newser) - Ford Motor Co. is cutting about 3,000 white-collar jobs as it attempts to lower costs and make the transition from internal combustion to electric vehicles, per the AP . Leaders of the automaker made the announcement Monday in a companywide email, saying that 2,000 full-time salaried workers would be...

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