(Bloomberg) — Amazon.com Inc. is laying off more than 17,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening, according to the Wall Street Journal. The cuts, which began last year, were previously expected to affect about 10,000 people. The reduction is concentrated in […]
Read More(Bloomberg) — Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation. The layoffs will be announced as early as this month, with the company planning to make the move around the same […]
Read More(Bloomberg) — With recession fears mounting—and inflation, the war in Ukraine and the lingering pandemic taking a toll—many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs. Amazon.com Inc. was the latest company to discuss its belt-tightening efforts this week. During its quarterly […]
Read More(Bloomberg) — Tesla Inc. laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter. Surprisingly, the majority of those who were let go were hourly workers, said the people, who asked not to be identified discussing private information. As recently as […]
Read More(Bloomberg) — JPMorgan Chase & Co. is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market. The total affected will be more than 1,000 US workers, with about half moved to different divisions within the bank, […]
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