Electric-vehicle maker Tesla has reportedly laid off employees from its software, service, and engineering departments following its recent workforce reduction announcement. This move comes after the company disbanded its EV charging department.
Electronic Arts will reduce 5% of its workforce as part of a restructuring plan that includes a reduction in real estate. The company expects charges of $125-165 million. Sony, Microsoft, and Tencent-owned Riot Games have also laid off employees. CEO Andrew Wilson assures employees that the impact on teams was deeply considered. The plan is expected to be completed by the end of the year.
According to a report by TeamLease EdTech, freshers hiring sentiment in India is expected to improve in the first half of 2024. The report reveals that 68% of employers surveyed plan to hire freshers, indicating a 3% increase from the previous period. Additionally, hiring intent for professionals with 1-5 years of experience is also on the rise. However, the sentiment remains negative for those with over six years of experience.
Job market uncertainty for startups is worsening due to layoffs at major internet firms, leaving staffers on edge.
Citigroup employees are anticipating announcements about management changes and layoffs in the next phase of the bank’s sweeping reorganization. The scale of layoffs is yet to be revealed, but the bank currently employs 240,000 people worldwide.
Google-parent Alphabet’s cloud business experienced its slowest growth in at least 11 quarters, causing the company’s stock to drop. Despite beating profit and sales estimates, investors remain concerned about gains in artificial intelligence and competition from Microsoft’s Azure and Amazon’s AWS. Google Cloud’s third-quarter revenue rose 22.5% to $8.41 billion, the slowest growth since the first quarter of 2021. On the other hand, Microsoft’s Intelligent Cloud unit revenue reached $24.3 billion, exceeding analysts’ estimates. Alphabet recorded severance charges of $2.1 billion for the first nine months of the year.
Google has announced plans to cut hundreds of jobs globally. This move comes as the tech giant aims to streamline its operations and improve efficiency. The decision has been met with mixed reactions, with some expressing concern for the affected employees and others seeing it as a necessary step for the company’s future growth. Read on to learn more about the reasons behind Google’s job cuts and the potential implications.
