Job cuts

Luxury travel subscription company Inspirato Inc (NASDAQ: ISPO) has put forward a plan to streamline operations. The plan includes a workforce reduction, effective immediately, that impacts approximately 12% of the company's current staff. Moving forward, Inspirato's...

Teladoc Health, Inc (NYSE: TDOC) slashed 6% of its workforce and underwent other initiatives during the fourth quarter of 2022 to reduce operating costs. The removal of redundant roles affected 300 non-clinician employees of the company. Teladoc also reduced office spaces in specific...

Tech giant Microsoft Inc (NASDAQ: MSFT) is preparing to lay off thousands of employees, according to multiple reports. What Happened: The Redmond, Washington-based company has more than 200,000 employees and will be cutting 11,000 jobs or about 5% of its workforce, according to Sky News, as...

Twist and turns for Twitter staff isn’t ending since Elon Musk became the owner and CEO of the company.  What Happened: After having to deal with smelly bathrooms and many unpleasant things, Twitter employees at the Singapore office have now been asked to empty their desks and vacate the...

The lull that characterized the holiday period continued into the past weekend. News flow is likely to pick up pace after the Martin Luther King Jr. holiday scheduled for Jan. 16, as the curtains lift on the fourth-quarter reporting season. Here's a recap of a few major headlines that hit the...

Former Secretary of Labor Robert Reich has expressed his concerns about the Federal Reserve’s fight against inflation in the context of employment.  Reich noted that the central bank’s attempt to rein in inflation by putting people out of work is ‘...

Goldman Sachs Group Inc. (NYSE: GS) is gearing up to eliminate about 3,200 positions this week, Bloomberg reported, citing a person with knowledge of the matter.  The investment bank will reportedly zero in on its core trading and banking units for most of the job cuts. Goldman Sachs...

Chicago-based McDonald's Corp (NYSE: MCD) has announced that it will accelerate its restaurant expansion plan and review corporate staffing levels as part of its new business strategy. Currently, the company operates in 119 markets worldwide and is divided into three segments: ...

Prominent market commentator Jim Cramer on Wednesday cautioned investors the tech industry may see more lay-offs owing to continuing macroeconomic headwinds. “There are so many tech companies with bloated payrolls that are still trying to grow rapidly, overpaying for new employees, and they...

Helen Of Troy Ltd (NASDAQ: HELE) reported a third-quarter FY23 sales decline of 10.6% year-on-year to $558.6 million, beating the consensus of $552.89 million. Core business net sales decreased 10% Y/Y and 9.6% compared to Q3 FY21. The company attributed the sale decline primarily to a...

"The Big Short" investor Michael Burry has expressed skepticism on the stock price movement of Salesforce Inc (NYSE: CRM) following the company’s plans to reduce its current workforce by 10%. “CRM should have been down 25% on those job cuts. Job cuts are so not the reason...

Oncocyte Corporation (NASDAQ: OCX) announced an over 40% reduction of its workforce to realign the team towards key products that address larger markets.  Additionally, Oncocyte has entered into a Stock Purchase Agreement to transfer 70% of its ownership of Razor Genomics Inc...

HP Inc (NYSE: HPQ) announced an FY23 Future Ready Transformation plan, driving significant structural cost savings through digital transformation, portfolio optimization, and operational efficiency.  It estimates that these actions will result in annualized gross run rate savings of...

It’s been a rough two weeks for fictional character Rahul Ligma. In the span of a couple of weeks, Ligma was fired from both Twitter and FTX. Here’s what happened and what Tesla Inc (NASDAQ: TSLA) and Twitter CEO Elon Musk had to say. What Happened: After acquiring Twitter for $44...

Everbridge, Inc (NASDAQ: EVBG) clocked a 15% revenue growth in Q3 to $111.4 million, topping the consensus of $110.8 million.  Non-GAAP EPS of $0.27 beat the consensus of $0.16. Non-GAAP operating profit was $9.8 million versus $2.2 million a year ago. Everbridge ended Q3 with...