In several cases, recent layoffs have affected staff at high-profile cybersecurity companies including Proofpoint and Okta. They have joined a list of top cybersecurity vendors that have cut staff over the past two years that also includesSplunk,Sophos,ZscalerandRapid7. [Related:Analysis: HPE Hack...
Even with rolling layoffs,the labor market remains strong,which may help explain why Wall Street has by and large rewarded those companies that have found areas to save and returned profits to shareholders. Shares of Meta, for example, almost tripled in price in 2023 in that "year of efficie...
In September,Jefferies analysts predictedVolkswagen could lay off 15,000 employees during its cost-cutting drive, which would represent the largest round of layoffs in Germany yet. However, layoffs have been held up by negotiations with Volkswagen’s powerful works council. Other German carmakers hav...
Still, recent tech layoffs may be a troubling sign for employees who were told that AI would eliminate some of the rote work associated with their jobs, freeing them up to engage in more creative or productive work. Because technology is diffused across all types of companies in different sect...
representing a combined 16 percent decrease of the company’s workforce over the past year. That announcement follows similar layoffs at Google, Microsoft, eBay, and other Silicon Valley companies–most of which have expressed recent concerns about the risk of an economic slowdown, or even...
Despite recent layoffs in the sector, 81% are planning increases in overall operations headcount. And where they can’t bring in new talent, many (73%) will increase their use of third-party vendors to fill digital skills gaps and boost their overall reliance on outsourcing. GenAI shows promi...
The recent layoffs, which span tech, digital, and business roles, reduce this gap, but they don’t completely change the tight talent market. Of course, many traditional companies are facing financial pressure themselves. I would encourage them not to freeze hiring altogether but to seize this ...
Nov. 25, 2022: Spectrum Pharmaceuticals:The biotech is ending the year as it started it—with a round of layoffs. A recent75% reductionin its R&D workforce was prompted by a complete response letter from the FDA that provided the final nail in the coffin for Spectrum's lung cancer candidat...
Musk said the layoffs come as Twitter is losing over $4 million per day. In thesecond quarter, the last time Twitter reported earnings, revenue fell 1% from a year earlier. Lyft: around 700 jobs cut Lyftannounced last week that itcut 13%of its staff, or about 700 jobs. In a letter ...
Johnson & Johnson, Medtronic and Abbott were among the top companies to announce layoffs this year as the industry implemented cost-cutting measures.