layoffs

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'Essentially Flat' Sales Lead to Etsy Layoffs

Around 11% of workforce will be cut

(Newser) - Gross merchandise sales have stayed "essentially flat" on Etsy for two years, while employee expenses have grown despite the company taking cost-cutting steps—which is why, as staff learned on a Wednesday livestream, the online retailer is cutting its workforce by about 11%. The company is laying off 225...

Hasbro Laying Off Almost 20% of Workers
Hasbro Announces
Mass Layoffs
Dec 12, 2023 1:30 AM CST

Hasbro Announces Mass Layoffs

Nearly 20% of employees will be let go

(Newser) - It's not a very merry Christmas season for one of the world's biggest toy makers: Hasbro told employees Monday that it would be laying off almost one-fifth of its workforce over the next year and a half to two years. Some had already been notified their positions would...

Spotify Staffers Walk Into Bad News on Monday

Company announces it's laying off 17% of its workers, the 3rd round of layoffs this year

(Newser) - Spotify is about to get smaller—17% smaller. The streaming music service announced its third round of layoffs this year in a Monday blog post from CEO Daniel Ek, who called the downsizing a "strategic reorientation," the AP reports. Ek noted that the new "leaner structure" would...

Nokia Is Cutting Up to 14K Jobs
Nokia Announces Big Job Cuts
Oct 19, 2023 11:42 AM CDT

Nokia Announces Big Job Cuts

Up to 14K will be laid off amid 'market uncertainty' in the telecoms business

(Newser) - Telecom gear maker Nokia said Thursday that it's planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The Finnish company, one of the world's main suppliers of...

LinkedIn Lays Off Hundreds of Workers

Company says it is 'streamlining'

(Newser) - More than 600 workers at LinkedIn are going to have to update their resumes. The Microsoft-owned, employment-focused social network announced Monday that it is laying off 668 workers, Reuters reports. The company said jobs would be cut in its engineering, talent, and finance teams. LinkedIn cut 716 jobs in a...

Tycoon Says 270K Aussies Need to Lose Their Jobs

Multimillionaire Tim Gurner courts controversy in saying workers need to be shown their place

(Newser) - One of Australia's richest men has apologized after calling for 270,000 job losses to show workers their place. Gurner Group founder and CEO Tim Gurner, a multimillionaire real-estate tycoon, was speaking at the Australian Financial Review's property summit on Tuesday when he said workers have become "...

Laid-Off National Geographic Writers Say No More Are Left

Departing staffers say they are the last ones

(Newser) - National Geographic, one of the most read magazines in the country, no longer has a single staff writer on its payroll, according to staffers who were given the sendoff Wednesday. The magazine said farewell to 19 staffers—including writers Michael Greshko, Doug Main, Nina Strochlic, Craig Welch, and Debra Adams...

New Round of Bad News at Disney
New Round
of Bad News
at Disney
Apr 24, 2023 3:08 PM CDT

New Round of Bad News at Disney

Company is laying off thousands of workers this week

(Newser) - Workers under the Walt Disney umbrella have been bracing for what they have referred to as the "big one" for weeks now, reports Deadline . On Monday, it arrived—a new round of layoffs and the biggest in a series of them that will see the company cut 7,000...

Bed Bath & Beyond Workers Report New 'Punch in the Gut'

First stores closed; now employees say they're being denied severance they thought they'd get

(Newser) - Back in mid-March, a report emerged that Bed Bath & Beyond—which is closing most of its stores and trying to avoid filing for bankruptcy protection —wasn't planning on paying out severance to laid-off workers, even though it had done so during past layoffs. The news came via...

BuzzFeed News Is Dead
BuzzFeed News
Is Dead
UPDATED
Apr 20, 2023 10:41 AM CDT

BuzzFeed News Is Dead

BuzzFeed is shuttering its newsroom

(Newser) - BuzzFeed News is being shut down, BuzzFeed founder and CEO Jonah Peretti announced in an email sent to staff on Thursday. He wrote that "we are reducing our workforce by approximately 15% today across our Business, Content, Tech, and Admin teams, and beginning the process of closing BuzzFeed News....

For the 2nd Time in 5 Years, Bad News for David's Bridal

70-year-old chain, $257M in debt, files for Chapter 11 bankruptcy protection

(Newser) - For more than 70 years, David's Bridal has served as one of the nation's biggest one-stop wedding party shops, claiming that 1 in 4 brides don its wedding dresses on their big day. Now, however, the Pennsylvania-based chain is $257 million in debt, per court documents, and it'...

Report: With Layoffs Planned, McDonald's Shuts Offices

Company says it wants to ensure 'comfort' during 'notification period'

(Newser) - McDonald's is believed to be planning a round of corporate layoffs this week, but you won't see dejected former employees leaving the company's offices with their belongings in cardboard boxes. According to the Wall Street Journal , the company has temporary closed its US offices during what it...

Zuckerberg on Latest Big Job Cuts: 'This Will Be Tough'

Facebook parent Meta to slash 10K jobs in recruiting, tech, business through May

(Newser) - Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then...

More Meta Layoffs Ahead, Before Zuckerberg's Paternity Leave

Thousands of employees could be let go as soon as this week as company looks to keep flattening

(Newser) - Mark Zuckerberg is set to go on "imminent" paternity leave for the birth of his third child, and another round of his employees are set to go on permanent leave before that, reports Gizmodo . The number of heads to roll isn't clear, but Bloomberg says, citing insiders, that...

Twitter Learns One Engineer Isn't Enough for a Major Project

Engineer's 'bad configuration change' broke the system, Platformer reports

(Newser) - Twitter CEO Elon Musk was "furious" Monday as the platform experienced its "sixth high-profile service outage " of the year, per Platformer . In an "embarrassing technology failure," photos wouldn't load and links led to an error message reading "your current API plan does not...

CEO Sorry for 'All Time Classic Bad' Layoff Memo

Quoting MLK was 'inappropriate,' admits PagerDuty CEO Jennifer Tejada

(Newser) - PagerDuty CEO Jennifer Tejada announced she was laying off 7% of the company's workforce seven paragraphs into a 1,700-word email to employees that referred to the firings as "refinements," included news of executive promotions, and concluded with a quote from Martin Luther King Jr. "I...

Spotify Plans Layoffs, After Boss Concedes Miscalculation

Streaming platform will cut about 600 employees

(Newser) - Chief executive Daniel Ek told employees Monday that Spotify has been cutting costs for months. "It simply hasn't been enough," the staff memo said. So about 600 employees, 6% of the workforce, will lose their jobs, the New York Times reports. Government filings show the audio streaming...

More Mass Layoffs, This Time at Google

Alphabet to shed 6% of its workforce, or 12K jobs, citing a 'different economic reality'

(Newser) - Companies are shedding workers like trees shedding leaves and those at Google parent company Alphabet are the latest to feel the winds of change. Citing the "economic reality," the company announced its largest ever job cuts on Friday: It will slash 12,000 jobs worldwide, or about 6%...

Microsoft Added 40K Jobs in 2022. Now, an About-Face

Company on Wednesday announced 10K jobs would be cut

(Newser) - Add Microsoft to the ever-growing list of tech companies announcing 4- and 5-figure layoffs. The company on Wednesday said it would lay off 10,000 employees, or roughly 5% of its 221,000-person workforce, by the quarter ending March 31, with layoffs beginning this week, reports CNBC . CEO Satya Nadella...

Salesforce Cutting Thousands of Workers

10% of the company's staff will be cut

(Newser) - Salesforce is laying off about 10% of its workforce, or nearly 8,000 employees, in the latest round of job cuts in the tech industry as corporations cut back on software and other spending. The San Francisco cloud computing software company will also be closing some offices, according to a...

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