Toy company Funko has announced that it will be laying off between 180 to 200 employees, which amounts to approximately 12% to 13% of its workforce. The decision is part of the company’s efforts to “rebalance its cost structure” and focus on areas that are expected to drive long-term growth and improve margins. The layoffs … Read more
LinkedIn, a leading professional networking platform owned by Microsoft Corp., recently faced workforce reduction as it laid off 187 employees in the Bay Area. The company’s decision to downsize its workforce came as a response to the challenges it encountered, particularly with its flagship lager Bud Light, which experienced declining sales. The job cuts affected … Read more
Beverage giant Bud Light has announced that it will lay off hundreds of corporate employees as sales of its flagship lager Bud Light have faltered. The job cuts will affect less than 2% of its U.S. employees, approximately 350 people out of its 18,000 employees nationwide. The layoffs will be across various corporate functions as … Read more
Infinity Pharmaceuticals is facing significant challenges after the collapse of its proposed merger with MEI Pharma. In an effort to mitigate the impact and reduce its expenses, the company has taken drastic measures, including laying off 78% of its staff and shrinking its board of directors. The merger with MEI Pharma was expected to be … Read more
CD Projekt Red, the renowned game development company, has announced a significant layoff, affecting approximately 100 employees, which constitutes around 9% of its workforce. This restructuring move comes as the company focuses on its work on new gaming titles. This marks the third round of layoffs for CD Projekt Red this year, having previously impacted … Read more
Google, the tech giant, has recently made headlines with its decision to lay off Madhav Chinnappa, the director of news ecosystem development at the company. Chinnappa, an Indian-born veteran, shared the news of his layoff with his followers on LinkedIn, revealing that he had spent almost 13 years at Google and had previously worked with … Read more
Foxo Technologies, a Minneapolis-based biotech startup, is facing a potential bankruptcy situation unless it can secure new financing quickly. The company made a filing with the U.S. Securities and Exchange Commission, stating that without the necessary financing, it will be unable to fund its operations. In addition to the risk of bankruptcy, Foxo is also … Read more
In a bid to bolster its financial position, Heron Therapeutics, a biotech company, has announced significant cost-cutting measures, including a 25% reduction in its workforce.
Jefferson Health, based in Philadelphia, has announced significant workforce reductions, impacting over 400 employees, which amounts to about 1% of its total workforce of more than 42,000 people. According to a statement from Joseph G. Cacchione, the CEO of Jefferson, the decision to cut the workforce comes after a comprehensive review of the organization’s operations … Read more
Niantic, the developer behind Pokémon Go, has made the decision to lay off 230 employees and close its Los Angeles studio. This move comes as Niantic shifts away from in-house game development and focuses on other aspects of its business. As a result, the upcoming game Marvel: World of Heroes has been canceled, and the … Read more