Tag: layoffs
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Daraz Group plans layoffs amid market challenges
In an internal communication obtained by Reuters on Tuesday, Alibaba-owned e-commerce platform Daraz Group revealed its decision to implement layoffs across the organization.
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Dukaan CEO lays off 90% of his support staff in favour of AI chatbot
Suumit Shah, founder and CEO of Bangalore-based e-commerce startup Dukaan, announced via his Twitter account that he has laid off 90% of his customer support staff in favour of using an AI chatbot. The bot was built by one of the firm’s data scientists, and according to Shah was able to respond to initial queries…
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AI’s disruptive power hits tech industry: Job cuts and demand for AI experts
The rise of artificial intelligence (AI) has sparked concerns about job displacement in the future. However, it is already having an impact in the tech industry, where employees once seemed secure in their positions.
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Spotify announces second round of layoffs, cutting 200 jobs in podcast unit amid restructuring efforts
On Monday, Spotify Technology announced its intention to implement a second wave of redundancies, resulting in the reduction of 200 positions within its podcast unit. This strategic restructuring follows a prolonged period of substantial investment, as the company seeks to adapt its business model accordingly.
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Crisis on wheels: Pakistan’s automotive industry grapples with mass layoffs and 70% sales drop
The automotive industry in Pakistan is facing a severe setback as thousands of workers were laid off due to a decline in vehicle and spare parts sales. The government’s ban on raw material imports, coupled with the depreciation of the rupee and soaring inflation, has caused a significant strain on the industry. With foreign exchange…
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McDonald’s temporarily closes US offices ahead of layoffs announcement
McDonald’s, the fast-food chain, will temporarily close its US offices this week to inform its corporate employees about layoffs as part of a broader company restructuring. Last week, the company sent an internal email to its US employees and some international staff requesting that they work from home on Monday through Wednesday to communicate staffing…
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Yahoo announces major layoffs, 20% of staff to be affected
Yahoo announced in a statement on Thursday that they will be cutting more than 20 per cent of their workforce by the end of 2023, starting with the elimination of 1,000 positions this week. The company, which was acquired by private equity firm Apollo Global Management in September 2021, had a headcount of around 10,000…
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Daraz Group to reduce 11% workforce in response to challenging market conditions
Daraz Group, an e-commerce subsidiary of Alibaba Group, will be reducing its workforce by 11 per cent in response to the challenging market conditions. The CEO, Bjarke Mikkelsen, noted the adverse impact of a war in Europe, significant supply chain disruptions, rising inflation, heightened taxes, and the elimination of crucial government subsidies on the company’s…
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Amazon plans to lay off 10,000 employees due to declining sales
Amazon is reportedly getting ready to lay off thousands of office workers due to decreasing sales and worries about an impending recession. The e-commerce giant’s office personnel could lose about 10,000 of their employees, according to US media sources who requested anonymity. Cuts are anticipated to have an impact on departments like e-commerce and personal…
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After Twitter, Meta reportedly planning ‘large-scale’ layoffs this week
With plans to layoff thousands of employees this week, Facebook parent company Meta will join a growing list of digital companies that are reducing their workforces. As of September 30, Meta has over 87,000 people working for it across its various platforms, which include the social media sites Facebook and Instagram as well as the…