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Tag: dismissed

  • Disney lays off more than 300 streaming-focused employees in China

    Walter Disney Co. DIS 2.16% has laid off more than 300 Beijing employees working on its streaming services, according to people familiar with the situation, as part of a cost-cutting and restructuring effort at the entertainment company. The layoffs in China come after Disney this week began implementing the first wave of cuts in a […]

  • Lucid is cutting 1,300 employees amid signs of declining demand for its electric cars

    Lucid said in a regulatory filing that it is cutting about 18% of its workforce, or about 1,300 employees. In a letter to employees, CEO Peter Rawlinson said the job cuts “will affect almost every organization and every level, including executives.” The company expects to incur $24 million to $30 million in costs associated with […]

  • Disney is eliminating its Metaverse division as part of the company’s layoff plan

    Mickey Mouse has left the metaverse. Walter Disney Co. DIS 1.64% has eliminated its next-generation storytelling and consumer experience division, the small division that people familiar with the situation said was working on metaverse strategies, as part of a broader restructuring that is expected to reduce company-wide workforce by approximately 7,000 over the next two […]

  • Tech consulting giant Accenture is cutting 19,000 jobs

    Global technology advisory group Accenture announced Thursday that it will lay off about 19,000 people to cut costs, streamline operations and grapple with a difficult economic landscape. The Dublin, Ireland-based company said in a filing with the Securities and Exchange Commission (SEC) that it will continue hiring, but plans to cut about 2.5 percent of […]

  • Accenture is cutting 19,000 jobs as IT spending declines

    Accenture PLC is cutting around 19,000 jobs over the next 18 months, or 2.5% of its workforce, as the professional services company looks to cut costs and streamline operations amid declining IT spending. The company, which offers IT consulting and other business services, said in a filing filed Thursday that most of the employees expected […]

  • Amazon plans to lay off another 9,000 employees

    Chief Executive Andy Jassy said in a statement that the company has added a significant number of employees in recent years, a move he defended as necessary given what was happening in Amazon’s business at the time. “Given the uncertain economy we live in, and the uncertainty that exists for the foreseeable future, we have […]

  • Virgin Orbit, Richard Branson’s satellite launch, has fallen fast

    Two months ago, Richard Branson’s Virgin Orbit VORB -9.14% Holdings Inc. was about to make history by launching the first satellites into orbit from the billionaire’s homeland of the UK That high-profile launch from Cornwall, England went badly, ending in the destruction of the satellite payload and sparking an investigation into what went wrong. Virgin […]

  • Asia is facing a shortage of employees who can fill technical roles: Seek Asia

    The workforce in Asia is short of people who have the skills to fill technical positions in companies, Peter Bithos, CEO of job portal operator Seek Asia, told CNBC’s “Squawk Box Asia.” Despite layoffs at tech companies, almost “every sector of the economy outside of technology” is hiring tech workers, Bithos explained. Tech jobs in […]

  • Meta is planning new layoffs similar to last year’s

    Facebook Parental Meta Platforms Inc. META -1.20% plans to announce additional rounds of layoffs in the coming months that would total about the same as last year’s 13% headcount cut, according to people familiar with the matter. The new cuts, the first wave of which is expected to be announced next week, are likely to […]

  • Stocks extend weekly losses after job data, bank collapse

    The government said on Friday that US hiring grew solidly but cooled off in February as employers added 311,000 jobs, more than economists polled by The Wall Street Journal had expected. Unemployment rose slightly to 3.6%, still historically low. Meanwhile, regulators closed Silicon Valley Bank after a run on deposits thwarted the tech-focused lender’s plans […]