For the technology sector, 2022 has been the year of layoffs. From Amazon to Zillow, many of the tech titans have been trimming the fat and reducing their workforce numbers in response to growing recession fears, bad investment decisions, and lower revenues. Will 2023 be more of the same? Amazon Amazon, the nation’s second-largest private…
Amazon CEO Says Job Cuts Will Run Through Next Year
After confirming that it has begun terminating employees, Amazon has now revealed that the layoffs will continue into 2023 as well. On Nov. 16, Dave Limp, Amazon senior vice president of devices and services, announced the job cuts, saying that the company had decided to “consolidate some teams and programs” due to which “some roles will…
Twitter Temporarily Closes Offices, Suspends Badge Access Amid Layoffs: Report
November 18, 2022
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Twitter Inc. on Thursday announced it was temporarily closing its offices, effectively immediately, and suspending all employee badge access. In a message sent to employees and published by the BBC, Twitter said its offices would reopen on Nov. 21, without providing a reason behind the temporary shutdown. “Hi, effective immediately, we are temporarily closing our…
Twitter Employees File Lawsuit Over Mass Layoffs
Twitter has been sued by multiple staff members over an alleged violation of federal law, with workers claiming they were not given enough notice regarding planned layoffs. Employees who had worked at Twitter’s offices in San Francisco, California, and Cambridge, Massachusetts filed a class-action lawsuit in the U.S. District Court, Northern District of California (San Francisco) on Thursday….
Elon Musk Texts Suggest Twitter Mass Layoffs Coming If Buyout Goes Through
Text messages between Tesla CEO Elon Musk and a number of his contacts that were made public this week suggest the businessman is considering mass employee layoffs at Twitter if his deal to purchase the social media platform goes through. The text messages were released in a court filing (pdf) as part of Musk’s ongoing legal battle with…
Facebook’s Meta Freezes All Hiring, Warns of Possible Layoffs Due to Economic Turmoil: Reports
Facebook’s Meta has reportedly announced that it would freeze hiring and outlined a new plan to reorganize and cut back its staff for the first time in its history, as the company’s profit growth begins to slow down. The tech sector has been hit hard this year, as stocks on the NASDAQ and S&P 500…
Boeing Co. to Cut 150 Corporate Jobs, Will Outsource to India
Boeing Co. announced on Sept. 20 that it plans to cut about 150 corporate positions in the United States and outsource them to India. The airplane manufacturer told corporate staff at a virtual meeting that it would begin outsourcing finance and information technology jobs to Tata Consultancy Services of India, Fox Business reported. The company…
Ford Cutting Around 3,000 Jobs as It Tackles ‘Uncompetitive’ Cost Structure Amid Soaring Inflation
Ford will be cutting around 3,000 jobs globally, according to an internal company email, with the move coming amid long-running speculation that the automaking giant was looking to reduce headcount as it seeks to address its “uncompetitive” cost structure as inflation has soared. Top executives at Ford announced the layoffs in an Aug. 22 letter…
Minneapolis Public Schools’ Plan to Decide Layoffs by Minority Status Is ‘Unconstitutional’: Legal Experts
August 18, 2022
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A new agreement between the Minneapolis teachers union and Minneapolis Public Schools that could result in white teachers being laid off before minority teachers, regardless of seniority, has sparked criticism among experts. According to the agreement (pdf), initially struck in March, white teachers would be laid off or reassigned before “educators of color” in the event Minneapolis…
LIVE NOW: Missouri AG Investigates Morningstar Over ESG Ratings; Mortgage Rates Drop Below 5% | NTD Business
Good news for homebuyers: Mortgage rates are dropping below 5 percent for the first time since April. Walmart is laying off corporate employees after slashing its profit outlook just last week. One state is investigating ESG ratings for the first time ever. Missouri’s attorney general believes financial services firm Morningstar may have violated state law. The…
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