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Recession

Job Layoffs

Amazon Layoffs Hit Again: Pharmacy Division Employees Feel The Heat Of Job Cuts

Small number of staff members from the Amazon Pharmacy division have been let go

19 July 2023

swiss bank

Swiss Central Bank Raises Key Interest Rate And Says More Hikes Can't Be Ruled Out

Inflation declined significantly to 2.2 per cent in May but is above the target set by the Swiss National Bank, which warned that price pressures persist and would make themselves felt in coming months without action. 

22 June 2023

Pakistan Flag (photo for representational purposes only)

Pakistan's Government Unveils 'Economic Revival Plan', Focus On Capitalising Key Sectors' 'Untapped Potential'

The ‘Economic Revival Plan’ was launched at a high-level meeting chaired by Prime Minister Shehbaz Sharif while Chief of Army Staff Gen Asim Munir, provincial chief executives, federal and provincial ministers and senior...

21 June 2023

Microsoft

Microsoft Layoffs Hit Again As Company Cuts Hundreds Of Jobs

These cuts extend beyond the 10,000 global layoffs that Microsoft announced in January

11 July 2023

Foreign Companies Are Shifting Investment Out Of China As Confidence Wanes, Business Group Says

The report by the European Union Chamber of Commerce in China adds is one of many signs of growing pessimism despite the ruling Communist Party's efforts to revive interest in the world's No. 2 economy following the end of...

21 June 2023

Mass Layoffs at Ola

Olx Layoffs Hit 800 Employees As Group Shuts Down Some Markets: Report

Olx layoffs come at a time when the company started to close operations of its automotive business unit Olx Autos in some markets

21 June 2023

The IMF

IMF Reaches Staff-Level Agreement With Pakistan On $3 Billion 'Stand-By Arrangement'

Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends...

30 June 2023

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IMF International Monetary Fund

IMF Head Welcomes Europe's Interest Rate Hikes In Campaign Against Inflation

“Monetary policy should continue to tighten and then remain in restrictive territory for some time until inflation expectations are firmly anchored and inflation trends toward target,” Georgieva said.

16 June 2023

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16 June 2023
Oracle Layoffs Hit Again As Company Gives Pink Slips And Cancels Job Offers In Health Unit: Report 

Oracle Layoffs Hit Again As Company Gives Pink Slips And Cancels Job Offers In Health Unit: Report 

Oracle layoffs were reportedly largely due to Cerner’s challenged work with the US Department of Veterans Affairs


15 June 2023
New Zealand's Economy Dips Into Recession As Higher Interest Rates Bite

New Zealand's Economy Dips Into Recession As Higher Interest Rates Bite

Gross domestic product fell by 0.1 per cent in the March quarter, following a revised 0.7 per cent fall in the previous quarter, Statistics New Zealand said.


14 June 2023
Pakistan Seeks Fast-Track Refinancing Of $ 1.3 Billion Loans From China

Pakistan Seeks Fast-Track Refinancing Of $ 1.3 Billion Loans From China

The request was made on Monday by Finance Minister Ishaq Dar during a meeting with China’s Charge d’affaires Pang Chunxue, The Express Tribune newspaper...


14 June 2023
After Mass Layoffs, Accenture Plans To Double AI Workforce: Report

After Mass Layoffs, Accenture Plans To Double AI Workforce: Report

Accenture will reportedly invest $3 billion in its Data and AI practice over the next three years


13 June 2023
SoftBank Layoffs May Hit 30% Staff Of Vision Fund Unit Soon: Report

SoftBank Layoffs May Hit 30% Staff Of Vision Fund Unit Soon: Report

Before this, SoftBank layoffs happened in September 2022 as well when the world economy was bracing for a global economic downturn


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12 June 2023
Better.com Layoffs Resurface Months After CEO Vishal Garg Fired Employees Over Zoom Call: Report 

Better.com Layoffs Resurface Months After CEO Vishal Garg Fired Employees Over Zoom Call: Report 

Better.com’s CEO has reportedly fired close to 4,000 employees till date, both in the United States and India


12 June 2023
Citigroup Layoffs To Hit London Unit Again, Months After Layoffs: Report

Citigroup Layoffs To Hit London Unit Again, Months After Layoffs: Report

Citigroup layoffs have also reportedly impacted staffers across firm’s operations, technology organisation and US mortgage-underwriting arm


09 June 2023
BYJU’s Layoffs To Leave More Employees Out Of Jobs In Fresh Cost Cutting Drive: Report

BYJU’s Layoffs To Leave More Employees Out Of Jobs In Fresh Cost Cutting Drive: Report

BYJU’s layoffs come at a time when the company skipped a quarterly interest payment of about $40 million


08 June 2023
L.A. Times’ Layoffs To Leave 13% Newsroom People Out Of Jobs: Report

L.A. Times’ Layoffs To Leave 13% Newsroom People Out Of Jobs: Report

Despite these layoffs, going forward, the L.A. Times reportedly expects newsroom staff to be around 500 or more


07 June 2023
TCS Asserts End Of “Vicious Cycle” Of Hiring And Counter Hiring Amid Recession Fears: Report

TCS Asserts End Of “Vicious Cycle” Of Hiring And Counter Hiring Amid Recession Fears: Report

TCS has rolled out a hike of 5-8 per cent for its workforce as it has emphasised on the needs to upskill on the back of AI-led changes


07 June 2023
Reddit Layoffs Hit 5% Workforce As Company Reduces Hiring Plans: Report

Reddit Layoffs Hit 5% Workforce As Company Reduces Hiring Plans: Report

Reddit layoffs will reportedly be executed across the company and were announced by the company’s CEO Steve Huffman


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06 June 2023
German Factory Orders Dipped Again As 2nd Quarter Started

German Factory Orders Dipped Again As 2nd Quarter Started

In late May, Germany's national statistics office said that the economy shrank in the first three months of this year, marking the second consecutive quarter...


06 June 2023
Spotify Layoffs Hit Another 200 Employees In Podcast Unit: Report

Spotify Layoffs Hit Another 200 Employees In Podcast Unit: Report

This round of Spotify layoffs amount to roughly 2 per cent of the company’s global workforce


01 June 2023
Europe Sees Inflation Drop To 6.1%, But Real Relief For Consumers Will Take Months

Europe Sees Inflation Drop To 6.1%, But Real Relief For Consumers Will Take Months

The annual figure in May eased from 7% in April for the 20 countries that use the euro currency, the European Union's statistical agency Eurostat said Thursday


31 May 2023
Goldman Sachs Layoffs May Hit Nearly 250 Jobs In Coming Weeks: Report

Goldman Sachs Layoffs May Hit Nearly 250 Jobs In Coming Weeks: Report

Goldman Sachs layoffs could be spread across seniority levels and includes partners and managing directors


30 May 2023
Guild Layoffs Hit 12% Workforce As Company Focuses On Long-Term Growth: Report

Guild Layoffs Hit 12% Workforce As Company Focuses On Long-Term Growth: Report

Talking about mass layoffs, Guild CEO Rachel Romer said (as per the report) that the layoffs were “incredibly painful”


29 May 2023
Rolls Royce Layoffs Likely To Leave Thousands Out Of Jobs: Report

Rolls Royce Layoffs Likely To Leave Thousands Out Of Jobs: Report

Rolls Royce layoffs may have the most impact in its non-manufacturing unit, where close to 3,000 employees of its global workforce may be left without jobs


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