lay-offs

Even the deepest pockets have their limits. Amazon and Google-parent Alphabet sit on a combined $184 billion in cash and short-term investments. Those two, along with big tech peers Microsoft, Apple and Facebook-parent Meta Platforms, hold the highest such balances among nonbanking companies on the S&P 500, according to data from S&P Global Market Intelligence. Amazon and Alphabet are also currently generating just under $95 billion combined in annual free cash flow. Copyright ©2024Dow Jones & Company, Inc.…

After a year of right sizing, employers are looking in the mirror and concluding there is still fat to lose. Companies including Amazon, Xerox, Google and BlackRock this month have announced plans to trim their workforces. Some of the companies now cutting jobs conducted larger-scale layoffs over the past year or so. Since then, inflation has come down along with expectations for a recession, which most economists anticipated as recently as the middle of last year. Copyright ©2024Dow Jones & Company, Inc. All Rights…

Listen to article(1 minute)Some companies are kicking off the new year by trimming staff as a steady labor market shows signs of cooling off. The labor market flashed some warning signs at the end of last year. Hiring has slowed in recent months. Open positions also dropped at the end of 2023 compared with the beginning of the year, while employees are quitting at a lower rate than before the pandemic began. Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Listen to…

Jan. 10, 2024 11:40 pm ETGoogle laid off hundreds of employees in several areas of the business on Wednesday, a sign of further cost reductions at the search giant as it continues to reverse a pandemic hiring spree.The cuts affected employees in divisions including those working on Google’s Assistant program, hardware and internal software tools, the company said. The exact size and scope of the layoffs couldn’t immediately be determined.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved.…

Jan. 10, 2024 10:48 am ETAmazon is eliminating hundreds of jobs across its film and television studio and Twitch streaming platform. Mike Hopkins, senior vice president of Amazon’s Prime Video and Amazon MGM Studios, announced the studio and video-division layoffs in an email to staffers Wednesday. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Jan. 10, 2024 10:48 am ETAmazonis eliminating hundreds of jobs across its film and television studio and Twitch streaming…

Rent the Runway is putting in place another restructuring plan that includes cutting about 10% of its corporate roles.The fashion subscription company on Tuesday said the turnaround plan comes with the resignation of Anushka Salinas as operating chief and president, effective Jan. 31.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Rent the Runwayis putting in place another restructuring plan that includes cutting about 10% of its corporate roles.The fashion…

Newell Brands will slash about 7% of its office roles and pare down its real-estate footprint in an organizational realignment.The Atlanta-based maker of Rubbermaid and Sharpie said it expected to realize annual pretax savings of $65 million to $90 million net of reinvestment, the majority of which is expected this year.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Newell Brandswill slash about 7% of its office roles and pare down its real-estate footprint in an…

The management philosophy known as DEI, which had gathered momentum since 2020, has been under siege over the past year because of a collision of legal, economic and geopolitical forces. The Supreme Court struck down affirmative action in colleges, removing the legal rationale buttressing many diversity programs. An expected slowdown in the economy prompted companies to cut jobs and financial support for diversity, equity and inclusion initiatives. And the Israel-Hamas war and college presidents’ responses to antisemitism…

Xerox Holdings said it is looking to turn around the company and is cutting its workforce by 15%.The workplace and digital printing solutions company on Wednesday said its transformation strategy, to be led by a new leadership team, aims to improve and stabilize its core print business.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 XeroxHoldings said it is looking to turn around the company and is cutting its workforce by 15%.The workplace and digital printing…

An Ernst & Young senior partner, during a call with some of the accounting firm’s U.S. partners and staff, delivered a sober message usually reserved for clients: It’s time to cut costs. “This has been a difficult week as we took needed action to address resource challenges in our business, where growth has notably slowed or where we have excess capacity,” said Dave Burg, EY’s head of Americas cybersecurity, in the webcast call on Thursday.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…