Real-estate brokerage startup, Compass has reportedly laid off 15% of its workforce due to the ongoing crisis in the real estate industry because of the coronavirus outbreak. As per a TechCrunch report, based on an internal email accessed by the media, the Softbank-backed startup has recently has laid off 15% of its staff as a…
The Committee for Economic Development of The Conference Board (CED) sent letters this week to the President of the US and the congressional leadership urging swift and bipartisan passage of a major federal stimulus program to help American workers and families cope with the COVID-19 crisis. CED, a nonpartisan think tank whose membership comprises top-level…
Online travel giant Expedia Group is cutting 12% of its workforce or about 3,000 jobs, after a “disappointing” 2019, the company said. Recently, Expedia Group’s leadership sent an email to its employees globally saying that it plans “to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization.” In the…
Decade-old question and answer based startup Quora, has recently announced that it will be laying off staff from its Bay Area and New York offices. The announcement was made by the company CEO on the website. In the statement, Chief Executive Officer Adam D’Angelo wrote that the layoffs and “organizational changes” were being pursued in…
HSBC (The Hongkong and Shanghai Banking Corporation) Holdings Plc recently announced that the bank will witness a major overhaul that would reduce the number of staff to 200,000 from 235,000 over the next three years. The announcement comes after the bank reported that it has missed the pre-tax profit expectations after the bank took a…
Earlier this week, the iconic American department store chain Macy’s announced its plans to shut over 125 stores and cut down over 2000 jobs. The company has shut down its headquarters in Cincinnati and tech offices in San Francisco. These changes are a result of massive restructuring exercise underway at Macy’s to reduce their burden…