Layoff Wave News Today

Troubled fintech major Paytm has seen a rebound in its stock, which jumped over 10% in the last two trading sessions. This and more in todays ETtech Top 5.

After slashing its workforce by 500 employees to save costs, apparel giant Gap has announced another round of layoffs.

Unacademy, an edtech startup, announced on Thursday another round of layoffs, cutting 12% of its workforce, according to an internal memo sent by CEO Gaurav Munjal, as reported by ET. This comes a day after the business announced that it had separated CodeChef, an acquisition from 2020. For both students and professional programmers, CodeChef is a competitive programming environment.

According to CNBC, the job losses will effect Disney's media and distribution segment, as well as ESPN and the parks and resorts division.

With high inflation hitting the spending capacity of consumers across the globe, Zalando is expecting a dip in revenues and profits.

"We have made the tough but necessary decision to reduce our team by approximately 15 per cent and say goodbye to around 1,300 hardworking, talented colleagues," Eric Yuan wrote.

FedEx laying off more than 10% of its management ranks

Layoff wave: Canadian firm Clearco lays off 30% of workforce

The employees had been called for an early morning meeting under false pretexts.

Layoff wave: Vodafone plans hundreds of job cuts, biggest in 5 years; Report