Tag: Employees

Livspace to lay off around 2% of its total workforce

Livspace layoffs: Livspace, an omnichannel platform for home interior design and remodelling, has layoffs around 2% of its total personnel in an effort to become profitable by the fiscal year that ends in March 2024.

ET stated that 45% of its technology and product teams have been retrenched. 36 people from a team of 80, including software engineers and directors, have been asked to leave the company, these sources said.

The impacted employees will receive their severance payments, according to numerous media reports.

The second round of layoffs by Livspace was this one. Previous to this, it let go of approximately 450 employees during the initial Covid-19 outbreak.

Wipro layoffs 120 employees in Florida due to a “realignment of business needs”

120 Wipro employees in Tampa, Florida, have been layoffs due to a lack of work, according to the company.

In order to realign business needs, Wipro has reduced its headcount in Tampa. The rest of Wipro’s Tampa area employees remain unaffected.”

West Bengal government employees to go on strike on March 9, reason is dearness allowance

On March 9, the United Forum of West Bengal Government Employees are calling a complete strike in all state government offices, following two days of a pen-down strike.

These workers are requesting that the outstanding dearness allowance arrears be paid. According to a Manch representative, March 9 was purposefully chosen as the strike date because by then the West Bengal Board of Secondary Education (WBBSE) examinations would be finished.

Wave of retrenchment continues, now Spotify and InMobi are also laying off employees

The wave of layoffs is currently underway in full force. And every day, some story about this makes headlines. And one such alarming report that huge firms have undertaken widespread layoffs came to light yesterday. Spotify and InMobi are their names.

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Spotify laid off 600 employees

Major Spotify Technology-related news has just been released. Global layoffs are planned by the Spotify Technology Company. In this, it is said that 6% of the workforce will be let go.

According to media sources, the Spotify corporation announced on Monday that it will be laying off 600 people, or 6% of its workforce worldwide. CEO of the Swedish firm Daniel Ek made this announcement.

InMobi lays off 50-70 employees

The first unicorn in India has announced the layoffs of thousands of workers. There have been between 50 and 70 layoffs at InMobi. This layoff has affected both InMobi and its other company, Glance. Till now this news has not been confirmed by the InMobi officials.

HP will also lay off employees after Amazon and Twitter, expected to cut 6,000 jobs by the end of 2025

Around the world, there is a wave of layoffs in the tech industry. Another significant tech company has opted to lay off employees, following Twitter, Meta, and Amazon. HP Inc., a manufacturer of electronics and laptops, is predicted to axe around 6,000 jobs.

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The company won’t be firing everyone at once, which is a comfort. Instead, this round of layoffs could last until the end of 2025. The corporation will reportedly reduce its global workforce by around 12% as a result of this downsizing.

Layoffs will continue till 2025

There are now about 50,000 employees working for HP Inc. Approximately 4,000 to 6,000 employees will be laid off by the company over the next few years. The company’s decision to announce the layoffs while presenting its financial year 2022 report is unique. “The corporation intends to lay off 4,000–6,000 workers. By the end of 2025, the retrenchment process is anticipated to be finished “The declaration said.

Declining sales are the reason

Company sources claim that during the Corona outbreak, sales of HP’s laptops and computers increased significantly. However, as the school offices reopened following the pandemic, PC and laptop category sales once more stagnated. The corporation has decided to eliminate positions due to the fast declining sales.

Inflation and recession

One of the main causes for layoffs by businesses can also be concerns about inflation and a worldwide economic collapse. Given these circumstances, HP Inc. is anticipated to report lower-than-expected first-quarter profits due to sluggish demand. Although the corporation has not yet specified when this layoff will begin in India and other international markets.

(Input – IANS)

E-commerce company Amazon is planning to lay off 10,000 employees

The online e-commerce company Amazon plans to lay off thousands of employees. According to a story in the New York Times, Amazon intends to fire 10,000 individuals this week who work in the corporate and IT industries. These layoffs will be made from among the workforce located all around the world.

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What is the reason for the layoffs?

The effects of the recession are being felt everywhere. One after another, major corporations are laying off workers. Following large corporations like Facebook, Twitter, and Snapchat, Amazon is now going to lay off employees.

After Twitter and Meta, the e-commerce behemoth Amazon has reportedly fired staff members in newly created units that have not turned a profit this year, according to a Daily Mail article.

The company was already reviewing

According to a recent article in The Wall Street Journal, Amazon.com Inc. is evaluating its non-earning operations. The gadget itself and Alexa the speech assistant are included in this. Following a month-long investigation, Amazon asked workers at divisions that weren’t turning a profit to look for other employment. It has been requested that some robotics and retail teams be closed and personnel be redeployed to more lucrative fields. After considering all of these factors, the corporation let go of 1000 employees.

Infosys fired employees working in two places at once, and said the company does not support ‘moonlighting’

‘Moonlighting’, which involves working from two places at the same time, is not supported by Infosys. Those who violated this policy were also fired in the last 12 months. In terms of revenue, Infosys is the country’s second-largest information technology company.

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What is Moonlighting?

Moonlighting refers to when an employee does a second job in addition to his regular one. Despite this, Infosys did not disclose how many employees were fired due to moonlight.

No support for doing two jobs at the same time

Salil Parekh, the chief executive officer (CEO) of Infosys, stated that the company does not support two jobs being held simultaneously during the company’s announcement of second-quarter financial results on Thursday. “We do not condone working with one job… we have taken action against individuals who were found to be doing two jobs in the past and when there was a confidentiality issue,” said Parekh.

One business that has taken a strong stance against “moonlighting” is Infosys. Rishad Premji, the chairman of Wipro, stated last month that 300 staff had been let go for “moonlighting.” He had made it quite plain that such personnel, who also works for the competitor company, have no place in the organization.

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