The cuts are mainly in the US, with a small number of layoffs in Israel. Communications technology firm Zoom plans to lay off 1,300 employees or 15 percent of its workforce. T. he layoffs will help the company align its workforce with its cloud-based priorities and reduce costs. The Indian subsidiary of the US carmaker has terminated the services of all its workmen at its Talegaon plant, Pune. of Employees to be Laid off: 1500 (17% of Employees). The large layoffs are because most parts of the tasks are completed through automation and artificial intelligence. One of Europes largest software companies, SAP, will lay off 2.5% of its global workforce of 112,000. The layoffs will affect corporate and field workers across all departments except the parking division. Israeli-US data protection platform OwnBackup to lay off 17% of its employees (170). GoodLife Fitness has let go of nearly 480 employees from 189 clubs across Canada due to COVID-19 restrictions cutting down on business. The company plans to focus on the offshore wind segment. So far in 2023, there have been 559 layoffs at tech companies with 156,257 people impacted (2,562 people per day). Here is the list highlighting the latest major layoffs announced by leading companies, with a particular emphasis on. NexImmune, an 11-year-old biotech developing immunotherapy treatments for cancer and autoimmune diseases, is cutting clinical programs and laying off 30% of the workers who run them. Tencent laid off nearly 5,500 employees from its payroll last quarter. German airline Lufthansa announced on June 11 to cut 22,000 jobs. Returning CEO Bob Iger aimsto cut more than $5 billion in costs by consolidating divisions that make and distribute movies and TV shows. Home COLUMBUS (WCMH) Nationwide announced Thursday it would eliminate 250 positions across the country, including 35 in central Ohio. affiliated companies are mutual companies, and not all Nationwide members are insured by a mutual of Employees to be Laid off: 1100 (18%). Jan 2022 - Present. The layoffs will help the company to go on offense and invest more in profitable businesses. The group has already permanently closed 16 stores during the pandemic with the loss of around 2,800 jobs. The job cuts would lead to about $1.4 billion to $2.1 billion in charges, while only about $800 million to $1 billion will be recorded in the fourth quarter. Industry: Media and Digital Marketing Communications. The Iowa-based Wells has planned to scale back operations by reducing its production lines from about 20 to five. The retrenched employees include contractual workers and educators. American Airlines Group is laying off over 19,000 employees as scheduled, in addition to thousands more who left the company or agreed to voluntary furloughs. BBC Four and CBBC will end as linear TV channels over the next few years, described as a blueprint to build a digital-first public service media organization. Binance Holdings, the largest crypto exchange in terms of trading volume, has laid off 58% of its workforce in its Indonesian unit known as Tokocrypto. In a massive overhaul of Albertas health-care system citing the ongoing pandemic, Alberta Health Services (AHS) is to lay off Between 9,700 and 11,000 employees. Truck brokerage company C.H. The clothing retailer Ralph Lauren will let go 15%, more than 3,600 workers of its global workforce as part of a broad reorganization, which will help reduce costs by $180 million to $200 million. Used car marketplace Cars24 has laid off more than 600 employees, with the layoffs put in place across departments and roles. The layoffs were necessitated as the company tried to push up profitability through efficiency while also contending with increased regulatory pressure from Chinese authorities. The Community opens Madrid Rural, the first center in Spain for the . Alphabet, Googles parent company, plans to lay off about 10,000 poor performing employees, or 6 percent of its workforce, following the layoffs by Meta, Amazon, Twitter, Salesforce, and more amid the rough global conditions. Barcelona, Gran Canaria and Tenerife. The workforce reductions come as the online used-car retailer faces an economic slowdown and an uncertain future. Olive, a tech startup that uses artificial intelligence to automate healthcare tasks, is freezing new hires amid a wave of digital health companies laying off employees and tech giants slowing their hiring. are to cut as many as 3,700 jobs as part of a plan announced last year to merge its domestic retail operations and boost profitability. United Furniture Industries, a Mississippi-based furniture company, abruptly terminated the services of nearly 2,700 workers in the US just days before Thanksgiving. Summary of Best Homeowners Insurance Companies of March 2023. Starry that made a debut on the New York Stock Exchange (NYSE) six month back, has laid off about half its workforce. Infarm is making a significant strategy shift and accelerating its drive toward profitability. The Dixie Group is consolidating its East Coast tufting operations to its existing plant in Dalton, Georgia, and cutting its staff by 20% this year in response to the weakening floorcovering market. This is in line with a strategy of sharpening our focus on profitability,. Pret a Manger, the sandwich shop chain will cut around 2,800 jobs in stores, and around 90 support staff, on August 31st. of Employees to be Laid off: 30% (1100) of Employees. Filing with the Securities and Exchange Commission (SEC) that the cuts will amount to about 20% of its current workforce. The move was reported to be a possible action taken to cut costs ahead of a potential funding slowdown in the country. The move comes as the company is trying to realign operations amid its electric vehicle transition. At the time of the announcement, the park had been closed for more than a month. Vogue permanently terminated its franchise agreement with Cond Nast Russia, halting the printing of Vogue, GQ, GQ Style, Tatler, Glamour, Glamour Style Book, and Architectural Digest. Edtech unicorn Vedantu has laid off 385 employees, which comprises 11.6% of its workforce. Sensei Biotherapeutics is streamlining and realignment its resources and plans to reduce its workforce by approximately 40%. Facebook plans to reduce hiring as revenue growth slows and inflation concerns increase. CEO Roy Jacobs said the job cuts would significantly reduce costs and make Philips a leaner and more focused organization. to all persons in all states. Richard Kramer, CEO of the company, said, While our businesses have performed at a high level through the volatility of the past several years, the uncertain near-term macroeconomic outlook and continuing impacts of inflation make these difficult actions necessary to position our business for future success.. California Consumer Privacy Act Rights CEO Thomas Wilson said the insurer would allow employees to stay on their . Investment giants like SoftBank, Coatue, and Tencent have backed the Vienna-based startup. According to companys Form 8-K filing with the SEC, Rubius board of directors have approved a plan to review strategic alternatives, including a sale or merger of the Company or one or more sales of its assets.. This will save the company approximately 600 million ($715.7 million) by the end of 2023. Oilfield services provider Basic Energy Services is warning employees that nearly 500 jobs could be eliminated in Texas. This comes after the company announced a hiring freeze back in May. The U.S. telecom and media giant also plans to permanently close over 250 stores, which would impact about 1,300 retail jobs. of Employees to be Laid off: 30% of employees. Chinese e-commerce giant Alibaba Group Holdings joint venture in Russia AliExpress has laid off about 40% of its employees since the invasion of Ukraine as the war has severely disrupted cross-border business. Your new career with Nationwide begins on Monday, May 1st and for the first two months, you will be in training, working Monday-Friday, 8am-4:30pm PST. Just Eat Takeaway is cutting 390 jobs from its workforce in France, constituting part of a broader global restructuring effort as the food delivery giant looks to reverse its recent downturn. Noom, a health coaching platform valued at $3.7 billion last year, has laid off 10% of its staff or around 500 people for the second time in a matter of months. US food delivery app DoorDash lets off around 1200 of its employees, which is 30% of its workforce. Poor macroeconomic conditions and the looming recession led the company to move. The e-commerce companyhad cut 500 jobs nearly 15% of its workforce in August 2022. Finance & Accounting Based on 110 salaries Claims Adjuster 11 salaries Underwriter 6 salaries View More Engineering Based on 45 salaries Software Engineer 9 salaries The Buffalo, New York-based M&T Bank will cut 747 jobs in Connecticut once its $7.6 billion acquisition of Peoples United Bank is complete. Airbus will lay off about 15,000 employees more than 10% of its workforce, over the next 12 months. of Employees to be Laid off: Hiring Freeze. US carmaker Ford Motor is to cut up to 8,000 jobs to reduce costs and intensify its focus on electric vehicles. Primark, the High Street discount retailer will cut over 400 roles from its 191 UK stores in response to rising cost pressures and as sales remain below pre-pandemic levels. . The company offers laid-off employees an N(working years)+2 compensation package. CEO Wood said in a email, GE Appliances has invested in new technology and products to keep the company competitive for the long term. Nordstrom has reduced its workforce, including corporate operations, by 6,000 amid the economic decline of approximately 40% in sales. However, the companys CEO Ioannis Giannaros responded to Axios request, claiming, Were still operating but will be scaling back to plan our next steps., No. No. It dropped nearly 5% further in premarket trading on Jan. 21. Best Buy expects 40% of its sales to come from online purchases this year. Opel aims to cut up to 1,000 jobs in Germany, by the end of the year through partial retirement, early retirement or severance pay. Collectible toymaker Funko is laying off 258 employees at warehouses in Everett and Puyallup, Washington, in a move to consolidate distribution operations at a single site in. of Employees to be Laid off: 6% of Employees. Here are some of the most notable examples so far: META lays off 11,000 employees (November 2022) The giant social media company META laid off 11,000 employees, representing 13% of the company's headcount, in November 2022. Airbus has to cut more jobs to sustain itself and is trying to reduce the number of layoffs through long-term partial employment, voluntary departures, and early retirement programs. Opendoor Metco Landscape has let go of 343 workers across five locations, as notified to the Colorado Department of Labor and Employment. The German government will take a 20% stake in the firm, which it intends to sell by the end of 2023. The cuts would take into account overlaps and synergies from the merger and the current market conditions, and would opt for voluntary redundancy as a preferred option and also take into account performance. GoTo Group, Indonesias largest internet company, is planning to cut more than 10% of the workforce, which will affect 1,000 jobs as it seeks to cut costs and shore up its finances. OneTrust has laid off 950 employees, or about 25 percent of its workforce, as part of a reorganization despite record quarters and increasing customer demand. 1,000 jobs will be cut over the next few years. The changes would help the bank create 1.4 billion ($1.7 billion) in annual savings by 2024. Fitness equipment maker and streaming company Peloton plans to cut 500 jobs as it struggles and aims to return to growth amidst recession. We monitor public sources like news and WARN filings for the latest layoff and hiring freeze announcements. Next Insurance, a small business insurance provider, . Taxi company Vinasun has laid off more than 2,500 employees, including some 1,800 drivers last year with the Covid-19 pandemic causing the business to shrink significantly. This was stated in an email communication by Google CEO Sundar Pichai. Netherland-based lender Rabobank has plans to cut its workforce by 5000 over the next five years. The payer closed 16 facilities at the end of 2022 and planned to close its remaining seven locations in New York by March 5. The company will begin notifying workers of its plan, which includes up to 6,000 redundancies. No. 1:01 DOVER Liberty Mutual is laying off 27 people at its Dover campus as part of two separate nationwide restructurings, according to a company spokesperson. Read more: Root Insurance lays off 330 employees. These layoffs are alleged to make up less than 2% of the company's workforce. Paying off employees is part of the rebalancing process. The affected roles will be mostly senior office-based positions and not a front-line operational staff. This is the latest round of job cuts Pink Energy blames on the failure of a safety component in battery storage systems provided by equipment manufacturer Generac. Heineken is trying to move beyond beer and make non-alcoholic beer that has much potential for growth. No. Retail brokerage firm Robinhood is cutting back staffing levels, citing duplicate roles and job functions after rapid expansion last year. However, with double-digit material inflation and a highly disrupted supply chain, manufacturing and operating costs have reached historic levels.. Since January 1st, 2023, 533+ companies have announced layoffs. Arrival, the U.K.-based commercial EV company, plans to slash costs and cut as much as 30% of its workforce to protect the business from a challenging economic environment while meeting its production targets. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. Cryptocurrency tax startup TaxBit, which has dual headquarters in Seattle and Salt Lake City, has laid off 15% of its staff. WestJet aims to consolidate and contract out much of its operations. Healthcare automation startup Olive is laying off about 450 workers. They will be offering early or partial retirement to older employees. The automotive manufacturing company is cutting 1800 jobs at its Windsor auto assembly plant. It said it was making the cuts due to the challenging macro-economic environment.. The company will be closing and ceasing all operations at this facility as it was damaged by a huge fire in December. London-based used car marketplace Cazoo is leaving the European Union entirely, and will now only operate in the UK. Under general supervision, the Business Development Manager, Inside Sales (BDM) is responsible developing, servicing and growing a sales territory through an inside sales approach that consists of an assignment of targeted brokers. Amdocs, a global tech company, plans to lay off 3% of its workforce, a total of 700 employees. cryptocurrency exchange Crypto.com has laid off around 260 employees, or 5 percent of its workforce, due to the widespread downturn in the crypto market. Netflix has laid off roughly 300 staffers. No. Twilio is one of the first tech companies to announce a second major staffing reduction in the current economic downturn. This was stated in an email communication by Google CEO. New Jersey-based Bayada Home Health Care will close four offices in Florida and lay off 682 employees. No. Around 75 percent of Bengaluru-based health tech business MFines personnel have been let off tin May. The eCommerce company began layoffs in November, with the departments affected in its devices business, recruiting, and retail operations. The Kora Capital-backed startup laid off 200 employees, around 20% of its workfor,ce across departments, including tech, product, sales, and support te,s among others. #1. Earlier this month, the edtech firm had laid off 200 employees. Nationwide vacated the building in August after going to a hybrid work arrangement in April 2020, allowing nearly 40% of its 13,000 central Ohio employees to work from home. The company is set to sack around two thirds of its 750 employees, including 350 in Israel. Nokia will reduce the size of its workforce over the next two years to free up money to invest in its 5G networks business. No. The firm blamed the layoffs on a seismic shift in public and private markets. Companies sometimes lay off people that they have just recruited - oftentimes with paid recruitment bonuses. Requires certain employers to give affected employees at least 60 days written advance notice of any plant closing or mass layoff. UHS projects higher revenue, volumes in 2023, but execs tell investors to wait until H2 for margin growth. Cond Nast will halt the distribution of Vogue Russia and its other publications in the country in opposition to a rise in censorship and the Kremlins invasion of Ukraine. The company is reducing the number of production sites impacting over half the workforce. Softbank-backed Indian hotel aggregator Oyo Hotels is cutting 600 jobs of its 3,700 employees, mostly in its corporate and technology teams. No. Ericsson, the telecom gear maker, plans to cut around 1,400 jobs in Sweden and other countries. Electric scooter rental firm Spin will lay off 25% of its employees, as part of the companys restructuring plan to exit open permit markets. of Employees to be Laid off: 35% of employees. Facebook parent Meta has canceled a contract with facility management vendor ABM Industries at its Silicon Valley headquarters. OhioHealth is eliminating 637 jobs, its biggest layoff ever, as part of a plan to drive improvements in patient care. This is the companys third round of layoffs in 2022. Bank of America - closed mortgage center near Portland, OR, 102 layoffs. Credits. The rest of the cuts will bring the total number of layoffs to more than 18,000 and will be made over the coming weeks. The company said, like many of its peers, it has been challenged by unprecedented interest rate hikes and overall macroeconomic volatility. No. Earlier in August, it had offered voluntary separation packages to 4,000 workers in the United States, Canada, and Puerto Rico. For BMS, the layoffs are tied to a recent acquisition.