Waymo, the self-driving unit of Alphabet, has laid off over 200 employees in its second round of job cuts, affecting mostly engineering roles. The move is part of a “broader organizational restructure that follows a fiscally disciplined approach,” said a Waymo spokesperson. The layoffs come after Alphabet recently laid off 12,000 workers and even 100 … Read more
General Motors (GM) has become the latest major company to lay off employees in order to cut costs and increase profits. The automaker recently announced the elimination of approximately 500 positions across various functions within the company. The job cuts come as a surprise since just a month ago, GM CEO Mary Barra and CFO … Read more
Thoughtworks is the latest technology company to join the ongoing trend of layoffs as the global economy slows. When reached for comment on Wednesday, the software consultancy firm stated that it had laid off about 4% of its global workforce, or approximately 500 employees. According to TechCrunch, the company informed affected employees about the decision … Read more
Goldman Sachs, a leading US bank, recently had to make the difficult decision to lay off up to 3,200 employees in response to economic difficulties impacting the fintech industry and the global economy at large. This represents the largest round of layoffs for the company since 2008, during the global financial crisis. Despite the cuts, … Read more
Poshmark, the social resale marketplace, has laid off less than 2% of its workforce. The layoffs were largely due to the fact that the company recently became a private company again. According to a spokesperson, some employees in finance, accounting, and human resources were impacted after their roles were deemed no longer necessary. Poshmark currently … Read more
Intel Corp. has announced plans to lay off a further 112 employees in Silicon Valley, with 61 job cuts in San Jose and 51 at its Santa Clara headquarters. The layoffs are part of a larger restructuring effort aimed at reducing the company’s costs by $3 billion this year. The affected workers will begin to … Read more
Wells Fargo continued its retreat from residential lending this week, laying off hundreds of mortgage bankers. According to Bloomberg, the latest layoffs affected more than 500 employees, according to a source familiar with the situation. Last month, Wells Fargo announced a “new strategic direction” for its home lending business, which includes downsizing its servicing portfolio … Read more
Dentsply Sirona, a dental device maker, is set to restructure its business model, resulting in a reduction of its workforce by up to 10%. The company’s 2021 annual report stated that it had 15,000 employees, so up to 1,500 jobs could be cut. Dentsply hopes the restructuring will help it achieve significant savings of over … Read more
Polygon Labs announced on Tuesday that it has laid off 100 employees, or nearly 20% of its workforce, following the consolidation of multiple business units earlier this year, making it the latest digital asset company to make layoffs. Polygon Labs’ announcement of laying off 100 employees comes amid a tumultuous time for the cryptocurrency industry. … Read more
Convoy, a Seattle-based digital trucking marketplace has announced its third round of layoffs in the past year, along with the closure of its Atlanta office. The company’s CEO, Dan Lewis, attributed the cuts to a shift in the company’s customer service model, as well as efforts to improve overall business efficiency and achieve profitability. The … Read more