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Recession News

15 Feb 2024

UK Fell In Recession At End Of 2023 As Output Shrank More Than Expected In Q4

The Office for National Statistics estimated that economic activity, as measured by gross domestic product, declined by 0.3% in the fourth quarter of the year from the previous three-month period, with all three main sectors — services, industrial production and construction — down.

16 May 2023

Vodafone To Cut 11,000 Jobs Over Next 3 Years, Sees Big Drop In Cash Flow

Vodafone has recently cut jobs in several of its big markets, shedding 1,000 in Italy earlier this year and a media report said it was looking to cut around 1,300 in Germany.

09 May 2023

LinkedIn Lays Off Around 700 Employees Globally, Shuts InCareer App In China

The LinkedIn revenue increased 8 per cent in the March quarter for the tech giant. In 2016, Microsoft acquired LinkedIn for more than $26 billion.

05 May 2023

ECB Hikes Interest Rates By 25 Bps In Fight Against Inflation

In light of the ongoing high inflation pressures, the Governing Council of the European Central Bank (ECB) decided to raise the key interest rates by 25 basis points (100 basis points makes 1 percentage points).

04 May 2023

IT Giant Cognizant To Lay Off 3,500 Employees, Or 1% Workforce Globally

Cognizant reported a 3 per cent (year-on-year) rise in its net profit to $580 million in the March quarter of FY23. The company reported revenue of $4.8 billion, which declined 0.3 per cent year-over-year, in Q1 2023.

24 Feb 2023

Ericsson Plans To Lay Off 8,500 Employees Globally: Report

The company said in December it would cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America.Ericsson to lay off 8,500 employees

12 Feb 2023

Meta Plans for a Fresh Round of Layoffs; Delays Setting Team Budget: Report

Instagram and WhatsApp parent Meta had cut more than 11,000 jobs or 13% of its workforce in November across many divisions amid cost-cutting.

31 Jan 2023

Dutch Tech Giant Philips to Cut 6000 Jobs, 13% Workforce Globally

Dutch tech company Philips announces to cut 6000 jobs globally. Company aims to restore its profitability and improve safety of its products following a recall of respiratory devices knocking off 70% market value. Half of the job cuts will be made this year, the company said on Monday, adding that the other half will be realised by 2025.

Top Layoffs 2022-23

26 Jan 2023

Top Layoffs 2022-23: From Microsoft, Amazon, Google to Ford- Check List Here

Google has declared that it will remove 12,000 jobs from its workforce in 2023 After Musk took over the social networking site, over 3700 workers—more than 50% of workforce were let go The quick delivery service platform Blinkit, formerly known as Grofers, let go more than 5% of its staff, or about 1600 people

26 Jan 2023

Which BIG Companies Lay Off their Employees in First Month of 2023? Check LIST

Almost 60,000 employees with 209 companies globally have lost their jobs in the first month of 2023. SAP said on Thursday it planned to cut 3,000 jobs, or 2.5% of its global workforce. Tech giant IBM is laying off 3,900 employees.

26 Jan 2023

Software Giant SAP Announces to Cut 3000 Jobs, 2.5% of its Global Workforce

SAP plans to cut 3000 jobs or 2.5% of its global workforce. The company is exploring the sale of its remaining stake in Qualtrics to cut costs and focus on cloud business. SAP is the latest tech company to cut jobs after companies including Alphabet's Google, Microsoft and Amazon.

26 Jan 2023

Software Engr Pens Down a Heart-Wrenching Post After Being Laid off by Spotify

Spotify to lay off 6% of its employees amid fear of recession. An Indian Software Engineer pens down a heart-wrenching post. She says in the post the hardest part is not knowing the reason.

26 Jan 2023

IBM to Lay Off 3,900 Employees; Bets Big on Hybrid Cloud, AI

IBM to lay off 3,900 employees after missing annual cash target. IBM joins a slew of tech companies such as Meta, Alphabet, Microsoft and others in laying off thousands of employees amid the global economic headwinds. Earlier, Google laid off 12,000 employees globally.

25 Jan 2023

Every one in four Indians surveyed Worried about threat of job layoff: Survey

Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation. Three out of four people are worried about the rising inflation and want the government to introduce decisive measures to tackle the same. This is relatively higher in the affluent (32 per cent ), older 36-55 year-olds (30 per cent) and salaried classes (30 per cent).

Washington Post

25 Jan 2023

The Washington Post Lays off 20 Newsroom Staff, Shuts Gaming Division

Washington Post announces to lay off its employees including newsroom jobs. The newspaper will shut down its gaming section. Amazon Jeff Bezos bought The Post for $250 million.

Google lay offs

22 Jan 2023

Ex-Google employee's inspiring post goes viral; Netizens praise positive look

Google lay offs an employee who was working there for 17 years on Friday. Ex-Google employee's post is garnering a lot of praise and respect for offering help to others in hard time. The companies come and go; the people are what really matter, he wrote in the post.

22 Jan 2023

Loyalty vs Frequent switches: Linkedin post stirs debate amid mass lay offs

Over 50,000 employees in 153 companies lost their jobs globally. Microsoft, Google laid off even long-serving employees as well. A Linkedin post stirs debate on the question of loyalty and frequent switches.

20 Jan 2023

Over 50,000 employees laid off by 153 companies globally in 2023 so far

Over 50,000 employees have been laid off so far in 2023 by 153 companies globally. Google becomes the new participant in the league to lay off their employees. Earlier, Swiggy announces to lay off its 380 employees.

20 Jan 2023

Google to lay off 12,000 employees amid tough days: CEO Sundar Pichai

Google to lay off 12,000 employees: CEO Sundar Pichahi. The affected employees will get notice period salary and other bonuses. Sundar Pichai calls it one of toughest days.

20 Jan 2023

Swiggy lays off its 380 employees after town hall meeting

Swiggy lays off its 380 employees that accounts for 6% staff. Swiggy joins the list of 150 companies globally that lay off its employees in first 20 days of January. A total of 38815 employees have been laid off so far in 2023, according to layoffs.fyi.

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