In this guide, we'll look at what a lay-off is, how it's different to short-time working, and how to manage employees on temporary leave.
Lion Electric Co.: The electric bus company announced on Feb. 29 that it was laying off 100 more employees or about seven per cent of its total workforce in a move to reduce costs. The company also announced on April 18 that it was cutting another 120 employees, and a further 300 start...
No. of Employees to be Laid off: 500 Industry: Manufacturing December 2024 Electric bus manufacturer Lion Electric is temporarily laying off 400 employees and shutting down production at its Illinois plant. The company has secured a loan extension to Dec. 16 and a credit agreement with a syndica...
These six companies will be laying off employees in Colorado: Dish Network, LLC plans to lay off 157 employees starting March 8, 2024, and nine additional employees on March 19, 2024. Lost Boys Interactive plans to lay off four employees in Colorado and 125 total employees starting March 15,...
October 4, 2022: OncoSec Medical:In a bid to reduce operational expenses and extend its cash runway, the oncology company islaying off 45% of its employees—18 people in total. The company had $19.5 million in cash and equivalents as of the end of April, a drop from almost $46 million...
Vox Media is also laying off employees, according to the Vox Media Union. In a Jan. 20 statement on Twitter,the union said, "We were informed today that the company is laying off around 7% of its workforce, and some of our members have been impacted. We're furious at the way...
Snap: The parent company of social media platformSnapchatsaid that it was letting go of 20% of its staff. Snap’s staff has grown to more than 5,600 employees in recent years and the company said at the time that even after laying off more than 1,000 people, its staff would be larg...
week Microsoft announced it was laying off 1,900 employees, following the 10,000 people it adios-ed in 2023. Online retailer eBay also got in on that action by eliminating around 1,000 jobs, while Salesforce, Amazon, and Roomba maker iRobot each cut hundreds of positions since 20...
Shares of Meta, for example, almost tripled in price in 2023 in that "year of efficiency," making the stock the second-best gainer in the S&P 500, behind onlyNvidia.After laying off more than 20,000 workers in 2023, Meta on Feb. 2 announced itsfirst-ever dividendand said it expanded...
In 2024, the global tech industry witnessed significant workforce reductions, with 529 major companies laying off a total of 149,870 employees. India’s Software Export Rankings: Bengaluru on Top, Hyderabad in Pursuit Dec 19, 2024 Bengaluru has once again solidified its position as India’s leadi...