US-based HR-tech company Namely has reportedly downsized 40% of its staff including some senior level executives and CxOs. According to a TechCrunch report, the eight-year-old startup has laid off over 400 employees or 40% of its workforce. The cuts are across the board, from high-ranking staffers, including a CFO who was brought on almost exactly two…
Tag: layoffs in usa
Boeing to cut staff as coronavirus hits business
by
•The coronavirus pandemic has brought us on the verge of a global recession. Some sectors of the economy are looking at a crisis, which would take years to recover. Among these are airline and travel industry. With governments imposing travel restrictions and nationwide lockdowns the airline industry has come to a standstill. Airline companies have…
Uber CTO resigns amid coronavirus pandemic; Layoffs expected
by
•Ride-hailing giant Uber has recently announced the departure of its Chief Technology Officer Thuan Pham. According to a company regulatory filing, Pham’s resignation will be effective May 16. Pham had joined the ride hailing tech company in 2013 and was the longest serving executive of the company. His departure comes at a time when Uber…
TripAdvisor lays off 900 employees as travel industry faces the heat of coronavirus
by
•American online travel company TripAdvisor recently announced that it has decided to lay off 900 employees or 25% of its global workforce due to the impact on travel industry because of the coronavirus pandemic. In a blog post, TripAdvisor CEO and Co-Founder Stephen Kaufer announced that the company would be reducing its workforce in light…
Furlough vs Layoff, the big difference
by
•The coronavirus pandemic isn’t only affecting people’s health and safety. It is also impacting people’s livelihoods as the virus hits the economy. The pandemic has brought the global economy to a halt. With restrictions on movement, nationwide lockdowns, and closure of businesses, the flow of money has become really slow. The virus has not only…
OYO India sends some employees on furlough till August, onboard team to face 25% pay cut
by
•As per the International Labour Organisation’s prediction, the world will witness a loss of about 2.5 million jobs due to the coronavirus pandemic. Most of these job losses are coming from new-age startups and small scale industries who are being tested the most by the economic situation. After hospitality startups like Treebo and Fab Hotels,…
Exclusive: LendingClub terminates its President Steve Allocca
by
•In a very surprising move, online lending marketplace LendingClub recently announced the termination of its President Steve Allocca. Though a lot of job cuts are happening throughout the world, the firings so far were only limited to medium or junior level employees. The recent decision to terminate the serving President by the company is a…
LendingClub to lay off about 460 employees due to coronavirus impact
by
•Adding to the unemployment crisis caused by coronavirus pandemic, online lending marketplace LendingClub Corp recently announced that it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs. The layoffs represent roughly a third of the company’s total workforce of 1,538 people as of Dec. 31, 2019.…
GoPro lays off 20% of its workforce
by
•Adventure camera maker, GoPro, recently announced that it has done massive organizational changes at the company. Taking into account the impact of the coronavirus pandemic, the company is laying off 20% of its workforce to conserve cash. GoPro has announced a $100 million reduction to 2020 operating expenses including a workforce reduction of more than…
Cathay Pacific to lay off 286 U.S cabin crew staff
by
•The airline industry has long been in a soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt…
Proptech startup Opendoor lays off 600 employees amid coronavirus
by
•The coronavirus pandemic has impacted several jobs globally with nearly 10 mn people filing for unemployment benefits in America alone. The pandemic has forced businesses to close operations and employees have been sent on furloughs for indefinite periods. The International Labour Organization has predicted that globally around 2.5mn jobs would be lost due to the…
Dynamic glass company View lays off staff
by
•California-based dynamic glass maker, View has recently laid off an unknown number of employees. These layoffs are also made from the company’s plant in Olive Branch, Mississippi. View specializes in making dynamic glasses that are designed to reduce heat and glare as well as lessen eyestrain. View touts its glass as a way for real…
Coronavirus Impact: AngelList lays off staff, executives to get pay cuts
by
•AngelList, a platform to connect investors to startups, has recently laid off a number of staff and cut executive salaries across all departments, according to a TechCrunch report. The company reportedly has more than $1bn assets under management. The company has yet not made any comments on the number of staff being laid off but…
Restaurant management startup Toast lays off 50% of staff amid coronavirus
by
•Boston-based restaurant management platform Toast recently announced that it has laid off about half of its staff as the coronavirus pandemic forces restaurant closure globally. Citing restaurant sales decline as the reason, CEO of Toast Chris Comparato through a company blog said, “During the month of March, as a result of necessary social distancing and…
Coronavirus Impact: Tesla to furlough workers, cut employee salaries
by
•The novel coronavirus outbreak has put brakes on the global economy. The once highly interconnected world has now imposed travel bans and countries have gone into a lockdown. Businesses are closed and employees are now asked to work from home. But the remote working concept is only limited to certain kinds of jobs. The manufacturing…