Netflix Plans to Cut Spending by 0 Million; No Layoffs Expected: Report

Netflix Plans to Cut Spending by $300 Million; No Layoffs Expected: Report

ByNews Polite

Netflix plans to cut its spending by $300 million (nearly Rs. 2,465 crore) this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze…

Meesho Lays Off 15 Percent of Its Workforce to Cut Costs, Achieve Profitability

Meesho Lays Off 15 Percent of Its Workforce to Cut Costs, Achieve Profitability

ByNews Polite

E-commerce firm Meesho has laid off 251 employees constituting 15 per cent of its workforce to cut costs and as part of its efforts to achieve profitability, a top company official said on Friday. Meesho Founder and CEO Vidit Aatrey in an email to employees informed about the decision and…

Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook

Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook

ByNews Polite

Accenture on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5 percent of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. More than half of the layoffs will affect staff at its…

Microsoft Announces Up to 10,000 Job Cuts, to Invest in Strategic Areas to Remain Competitive

Microsoft Announces Up to 10,000 Job Cuts, to Invest in Strategic Areas to Remain Competitive

ByNews Polite

Microsoft CEO Satya Nadella has announced up to 10,000 job cuts, with notices going out to affected employees as early as today. In a memo circulated to staff and published online, Nadella outlined the economic conditions that are forcing “hard choices” such as this, but stated that Microsoft will continue…

CNN begins slashing workers as Chris Licht cuts costs: report
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CNN begins slashing workers as Chris Licht cuts costs: report

ByNews Polite

CNN began a long-expected round of layoffs on Wednesday as president Chris Licht and other executives at WarnerBros. Discovery trim costs at the struggling cable news network. Licht informed CNN employees of the cuts in a memo and acknowledged “it will be a difficult time for everyone” at the company….

CEO Andrew Jassy tells Amazon workers that layoffs will continue into 2023
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CEO Andrew Jassy tells Amazon workers that layoffs will continue into 2023

ByNews Polite

Amazon employees can expect the current round of layoffs to continue into 2023, CEO Andrew Jassy said in a memo to workers. The elimination of some 10,000 positions, or 3% of Amazon’s workforce, began this week, but the culling will extend into early next year, Jassy said. He describing the…