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Intel jobs cuts begin: 20% workforce cut, key units shut, and roles outsourced; Check company's layoff policy - The Economic Times
Economic Times
·
2m ago
Medial
Intel, under CEO Lip-Bu Tan, is implementing major cost-cutting measures resulting in layoffs affecting up to 20% of its workforce. The company is closing its automotive chip unit in Germany and outsourcing its marketing operations to Accenture to streamline leadership and reduce complexity. The initial layoffs have begun in California, impacting engineers and senior managers. These measures aim to make Intel leaner and more efficient, focusing on core client and data center portfolios.
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Intel cuts over 500 jobs in Oregon as part of layoff plan - The Economic Times
Economic Times
·
2m ago
Medial
Intel is set to cut over 500 jobs in Oregon as part of a broader layoff plan, aiming to reduce around 20% of its workforce. The job cuts will affect facilities in Aloha and Hillsboro, eliminating 529 positions permanently. This move follows a recent layoff in California, where 107 employees were let go. The effort seeks to streamline operations under new CEO Lip-Bu Tan, aiming for a leaner and more efficient company.
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Procter & Gamble to Slash 7000 Jobs Amid Tariff Strain and Consumer Uncertainty
StartupTalky
·
3m ago
Medial
Procter & Gamble plans to cut 7,000 jobs, about 6% of its global workforce, over two years due to rising costs and reduced consumer demand. Primarily affecting non-manufacturing roles, this restructuring aims to streamline operations. The decision follows weaker-than-expected sales and is part of a broader trend among large companies facing economic challenges, including those influenced by tariffs and AI adoption. Major firms like Amazon and Intel are also pursuing job cuts for similar reasons.
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Tech layoffs: Over 27,000 jobs lost in August 2024; Intel, Cisco and IBM lead the wave
Livemint
·
1y ago
Medial
Tech layoffs in August 2024 impacted the industry as major players like Intel, Cisco, and IBM made significant job cuts. Over 27,000 workers lost their jobs across 40 companies. Intel plans to eliminate 15,000 jobs, while Cisco intends to reduce its workforce by 6,000. IBM is withdrawing its R&D operations from China, resulting in 1,000 job losses. German chipmaker Infineon plans to cut 1,400 jobs. Other notable layoffs include GoPro, Apple, Dell Technologies, ReshaMandi, and Brave. These layoffs highlight the ongoing volatility in the tech industry.
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Amazon cuts more jobs, this time in books division
Economic Times
·
3m ago
Medial
Amazon has cut under 100 jobs in its books division, affecting Goodreads and Kindle units, to enhance efficiency and align with its business plan. This action is part of CEO Andy Jassy's broader strategy to reduce bureaucracy and streamline operations. The company has also recently made job cuts in its devices, services, podcast division, and communications staff. Despite these layoffs, Amazon's workforce increased by 4,000 jobs in the first quarter of this year.
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Tech layoffs in January 2024: CEO fires the whole company over 2-minute call; Google, Microsoft, Amazon continue layoffs; job cuts at TikTok, Flipkart, Swiggy, and others
Startup News FYI
·
1y ago
Medial
In January 2024, several tech companies implemented job cuts. Frontdesk fired all 200 employees during a two-minute call, Google laid off hundreds of staff across various divisions, Microsoft cut 1,900 jobs, Amazon announced layoffs in Audiobooks, Prime Video, and Twitch divisions, Xerox reduced its workforce by 15%, Unity Software cut 1,800 jobs, Discord laid off 17% of its employees, eBay cut 1,000 jobs, Flipkart laid off 1,000 employees, Swiggy laid off 400 employees, Riot Games cut 11% of its staff, TikTok laid off 60 workers, and Salesforce announced 700 job cuts.
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Amazon expects to reduce corporate jobs due to AI | TechCrunch
TechCrunch
·
2m ago
Medial
Amazon CEO Andy Jassy anticipates a future reduction in corporate jobs due to generative AI transforming the workforce. As AI agents are increasingly implemented, the need for some current roles will decrease, while demand for new types of jobs will grow. Although the exact scale of workforce reduction is uncertain, a survey by the World Economic Forum indicates that 40% of employers are planning staff cuts in roles that could be automated by AI.
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US-based Fidelity Investments fires 700 employees in first cut in 7 years
IndianStartupNews
·
1y ago
Medial
Fidelity Investments is set to cut approximately 700 positions, marking its first staff reduction since 2017. The move affects less than 1% of the company's workforce of around 74,000 and is aimed at better positioning the organization for the future. The announcement follows recent leadership changes, including the appointment of a new Chief Administrative Officer and Finance Chief. Despite the job cuts, Fidelity remains financially strong and is actively hiring for critical business roles. Meanwhile, Fidelity International, a separate entity, plans to reduce its global workforce by 1,000 jobs this year.
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Amdocs Joins the AI Layoff Wave: Hundreds of Jobs on the Line
StartupTalky
·
28d ago
Medial
Amdocs, an Israel-based software company, has joined the AI layoff wave alongside companies like Microsoft and Intel. Despite a profit decline not driving the decision, the company is shifting focus to AI, resulting in worldwide employee cuts. Previously, Amdocs viewed AI as a tool to enhance, not replace, human talent. However, with their new GenAI & Data division, powerful enough to integrate various teams, the need for some human roles has decreased, leading to layoffs.
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After Prime, Amazon's Twitch and Audible face layoffs due to financial issues
Livemint
·
1y ago
Medial
Amazon's gaming streaming unit, Twitch, is laying off 500 staff members (one-third of its workforce) due to financial struggles. Additionally, Audible, an Amazon company, is planning to cut 5% of its workforce. This comes after recent job cuts in Amazon's Prime Video and MGM Studios units, as the company aims to cut back in areas that are not delivering. Other tech companies, including Google and Xerox, have also announced layoffs in recent days.
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Google offers 300% hike to retain employee switching to AI startup
Livemint
·
1y ago
Medial
Google once offered a 300% salary hike to an employee who was planning to switch to Perplexity AI, according to Perplexity AI's CEO Aravind Srinivas. Srinivas emphasized the extent to which tech giants are willing to retain their employees. The tech industry has recently witnessed layoffs, with Google alone cutting 32,000 roles. Last month, CEO Sundar Pichai warned of further job cuts, stating the need to make "tough choices" for new investments. In 2023, Google announced plans to cut around 12,000 jobs, approximately 6% of its workforce.
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