Finland's Nokia cut its annual outlook on Friday and Swedish rival Ericsson delivered second-quarter results slightly above expectations, as a slowdown in consumer spending hit sales of telecom gear.
Cryptocurrency exchange Binance has cut jobs just days after it was hit by a wave of executive exits, a source familiar with the matter told Reuters on Friday.
Quitting doesn’t pay like it used to. The raises Americans earn from switching jobs is shrinking, narrowing their advantage in wage gains versus job-keepers. That stands to reduce inflation, as companies benefit from lower costs when snagging new employees. While it’s happened without mass layoffs, weaker pay gains signal that the labor market’s balance of power is shifting back to businesses.
UBS Group is looking to cut more than half of Credit Suisse's workforce from next month as a result of the bank's takeover, Bloomberg News reported on Tuesday.
Deutsche Bank is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday.
Singapore-based Grab Holdings is preparing its biggest round of job cuts since the pandemic, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Software firm Oracle on Thursday laid off hundreds of employees, rescinded job offers and cut back open positions within its health unit, the Insider reported, citing three people familiar with the matter.
Swedish miner Boliden said on Tuesday it will suspend production at Europe's largest zinc mine in Ireland and lay off its 650 workers within the next month due to "unsustainable financial losses".
UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia, as the Swiss banking giant plans to shore up talent in markets where its rival has a stronger presence, Bloomberg News reported on Sunday.
Spotify Technology SA said on Monday it would cut 200 jobs from its podcast unit in its second round of layoffs, as the company restructures the business after years of heavy investment.