SpiceJet to cut at least 1,000 jobs to ensure profitable growth

Layoff 2024: The news indicates that SpiceJet Airlines is about to lay off 1000-1400 workers, or around 15% of its whole staff. Due to financial difficulties, SpiceJet plans to fire many of its staff.

According to the ET article, the airlines have justified the workforce reductions by pointing to operational needs to control the company’s overhead expenses.

Let us inform you that SpiceJet Airline employs 9,000 workers at the moment and that it runs approximately 30 aircraft, which also includes eight wet-lease from foreign carriers. If reports are to be believed, the airline is reducing staff because of an estimated Rs 60 crore salary expense.

More than 1000 employees laid off in Paytm, Artificial Intelligence is the reason for layoffs

Paytm Layoffs: There has been news about the fintech firm Paytm, stating that the company has once again chosen to fire its staff. Simultaneously, indications of how artificial intelligence would affect employment have begun to appear. In this round of layoffs, Paytm reportedly let go of almost 10% of its whole workforce.

This time, One97 Communications, the parent firm of Paytm, reportedly let go of over 1000 employees, according to an ET report. According to the ET news, which cited two relevant sources, these layoffs occurred within the last few months, affecting workers from different Paytm divisions.

Paytm reportedly carried out this layoff to lower expenses and restructure its many companies.

Paytm’s decision to discontinue its “Buy Now Pay Later” service and exit the small loan market is thought to be the reason for this layoff. The Reserve Bank of India (RBI) recently released new guidelines aimed at curbing the nation’s rising amount of unsecured loans. Following this, banks’ ‘Buy Now Pay Later’ service—which is utilized for credit card issuance, personal loan distribution, and the purchase of the majority of electronics—has been impacted.

Microsoft announces new round of layoffs and cuts 275 jobs

Microsoft announced a new round of job layoffs on Monday morning, affecting a variety of customer care, support, and sales positions. Microsoft is reportedly slashing close to 275 positions, per a GeekWire story.

The 10,000 global layoffs that Microsoft initially announced on January 18 are not included in these reductions.

For Microsoft, whose fiscal year 2023 ended on June 30, making the decision to restructure some of its operations as it begins a new fiscal year is not unusual.

Autonomous delivery robot startup Nuro will lay off 340 employees

Nuro Layoffs: An autonomous delivery robot startup Nuro, based in the U.S. will layoffs 30 percent of its employees, or approximately 340 people, as part of its restructuring effort.

According to news, the co-founders of Nuro, Dave Ferguson and Jiajun Zhu, stated last week that the company would layoffs employees and reallocate resources from commercial operations to R&D.

Nuro has fired employees twice in an effort to reduce expenses and increase the capital runway. About 300 employees, or 20% of the company’s personnel, were let go in November of last year.

Digital intelligence company SimilarWeb laid off 6% of its workforce

A new round of layoffs at the digital analytics company Similarweb will result in the departure of around 60 employees, or about 6% of its whole workforce. The majority of the layoffs involve workers who are based outside of Israel.

The reductions were disclosed along with the company’s first-quarter 2023 earnings.

When Similarweb released its statistics for the third quarter of 2022 in November of last year, it announced the layoff of 10% of its team or roughly 130 individuals.

Intel will be layoffs its workforce to reduce costs

On Monday, semiconductor chip manufacturer Intel confirmed that it plans to cut its workforce to reduce costs amid a wave of layoffs in the tech industry.

In order to maintain long-term growth, the company noted the necessity to accelerate its plan in a difficult macroeconomic climate while continuing to invest in key parts of its operations, like its manufacturing facilities in the United States.

In response to a decline in personal computer sales, Intel posted its greatest quarterly loss in corporate history last month. The first quarter’s net loss was $2.8 billion while revenue decreased by 36% from the prior year.

National Public Radio layoffs 100 employees and cancels 4 podcasts

Mass layoffs are carried out by the nonprofit media organisation National Public Radio (NPR), based in Washington, which results in the cancellation of numerous podcasts.

NPR acknowledged on Thursday that it had layoff 10% of its workforce or about 100 employees and that it often rolls back its workforce from 1,200 to around 1,050.

According to NPR, the majority of the impacted employees will continue in their positions through April 28.

Amazon is laying off an additional 9,000 employees in the second round

Adding to the 9,000 layoffs already announced by Amazon.com Inc., this is the company’s largest round of layoffs ever.

Following the completion of the second phase of its operating plan, Amazon has chosen to fire another 9,000 employees. The business has made the decision to let 18,000 employees go in January. The massive e-commerce company has now cut 27,000 jobs in total. The company’s largest layoff has ever occurred.

The changes, which would mostly impact the Twitch live streaming service business, Amazon Web Services, human resources, and advertising units, were announced internally on Monday by CEO Andy Jassy.

Microsoft continues a third round of layoffs including employees in supply chain, cloud, IoT biz

A third round of layoffs at Microsoft affected workers in positions connected to the supply chain, artificial intelligence (AI), and the internet of things (IoT).

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The third round of layoffs, according to CRN, is a component of the 10,000 job reduction announced by Microsoft earlier this year.

According to the report, which cited the corporation, job losses occurred at different levels, functions, teams, and geographical locations.

According to Washington state records, the software firm informed its home state on Monday that 689 of its employees had been permanently laid off. Microsoft’s offices in Redmond, Bellevue, and Issaquah are affected by the layoffs.

Hotstar loses 3.8 million subscribers, Disney layoffs 7,000 employees

Disney Layoff: Layoffs are still occurring in US companies. The list of businesses that have recently let go of staff now includes Walt Disney as well. The business has disclosed that 7,000 employees will be let go.

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3.8 million paid customers have left Disney’s streaming service Disney + Hotstar for the first quarter ending December 31, 2022. It is thought that the corporation chose to fire staff in order to save costs only after its customer base shrank.

Disney announced on Wednesday that it is firing 7,000 staff. This is regarded as CEO Bob Iger’s first significant decision. At the conclusion of the previous year, he took control of the business.

Disney’s annual report for 2021 states that it employs 1,90,000 people worldwide. Eighty percent of them worked full-time. Disney’s overall staff would shrink by 3.6 percent as a result of the layoffs.

In India, Disney Plus Hotstar dominates

Disney’s OTT network has outperformed even a major company like Netflix in India because of its smooth streaming. Hotstar’s market share in the Indian OTT market is close to 29%. There are more than 50 million paid subscribers to Disney Plus Hotstar.

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