However, this is not a company related to the IT sector. Here we are talking about Amazon. Amazon has shown the way out to more than 100 staff from the Wondery podcast division of its audio business.

110 people were fired from the company

The company has laid off 110 people, including Wondery’s CEO. In a note to employees, Amazon’s Vice President of Audio, Twitch and Games, Steve Boom, said that narrative and story-based podcast series such as Dr. Death, American Scandal and Business Wars will now be managed under Amazon’s audiobook service Audible. The company is now moving towards creator-led, video-based content.

Preferences are changing regarding podcasts

Podcasts featuring creators and celebrities—such as New Heights with Jason and Travis Kelsey, Mind the Game, and Armchair Expert—will be housed in a new Creator Services group within Amazon’s Talent Services division. Some podcasts will be produced by the Wondery brand. Amazon says the change is driven by podcast consumption. As video-style shows featuring personalities become more popular, especially on platforms like YouTube and Spotify, new strategies are being used to drive advertising, profitability, and discoverability.

Wondery’s identity will remain

The company says that most of the employees who have been laid off from the Wondery podcast division have taken up some other work within the company. Despite this major change, the brand identity as Wondery will remain. Some creator-based shows will continue under its name and its Wondery+ app will also continue.

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Let us tell you that Microsoft is laying off people for the second time this year. The latest layoffs are being done at different departments, locations and levels of the company. A Microsoft spokesperson has confirmed the layoff of 9000 employees. The spokesperson said, “We are taking these steps keeping in mind the organizational changes needed to better position the company and teams for success in today’s dynamic marketplace.”

The company has already fired 6000 employees this year

Microsoft said that these layoffs are a part of the company’s effort to better manage its operations, reduce management levels and improve overall efficiency. Let us tell you that earlier the company had also fired about 6000 employees in January, May and June. If this latest layoff is included, then the number of people losing jobs from Microsoft in the first 6 months of 2025 will exceed 15,000. After firing 9000 people, the total number of employees of Microsoft will be around 2,19,000.

Microsoft had laid off 10,000 people in 2023

According to media reports, this time the layoffs will have the biggest impact on the sales team. Apart from this, employees of other teams including Xbox will also be affected by this. Let us tell you that Microsoft has a long history of doing internal restructuring at the end of its financial year in June. The American company fired about 10,000 employees in the year 2023. But the layoffs of 2025 are going to be much bigger and more impressive than the layoffs in 2023. This year the company has already fired about 6000 employees and now 9000 employees are being laid off.

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According to a Reuters report, according to an internal post written by Meta’s Head of People Janelle Gale, notices will be sent to affected employees in most countries, including the US, from Monday morning. However, employees in Germany, France, Italy and the Netherlands have been exempted from layoffs due to “local regulations”. In other countries, layoffs will be notified between February 11 and February 18. Meta has not given any official statement regarding this layoff or recruitment process.

Meta had already confirmed that it would lay off about 5% of its lowest-performing employees. However, some positions will be refilled. Gale calls these cuts “performance terminations.” Unlike previous layoffs, this time Meta’s offices will remain open and no additional details will be shared about the layoffs.

Meanwhile, Meta is speeding up the hiring process for machine learning engineers
and other key roles. Another memo posted on Friday by Peng Fan, VP of Engineering at the company’s monetization division, asked employees to assist in the fast-tracked hiring process between February 11 and March 13.

The biggest layoff after 2022-23

In the financial year 2022-23, the company fired about a quarter of its employees. Whose number was 21 thousand. After that, now the company is going to lay off a large number of people. Those who are being fired will be informed by February 10. Employees will also be given allowance as per the rules already decided.

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SoftBank-backed edtech startup Unacademy has laid off 250 employees in the latest layoff. Sources familiar with the matter have given this information. Media reports quoted sources as claiming that about 100 people have been removed from core functions like business development and marketing. The rest have been laid off from the sales department.

Unacademy has also received investments from Peak XV Partners and General Atlantis. According to media reports, the company has also confirmed the layoffs.

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Tech company One97 Communications, which runs the Paytm brand, may lay off around 5,000-6,300 employees in the coming days. The company is preparing to reduce employee costs. It is being said that Paytm may have to reduce its workforce by about 15-20% this financial year. According to a report by Financial Express, the company had an average of 32,798 employees working in FY23. Of these, 29,503 were active employees. The company’s average cost per employee was Rs 7.87 lakh. Total costs have increased 34% year-on-year (y-o-y) to Rs 3,124 crore in FY24 and the average cost of employees is expected to increase to Rs 10.6 lakh.

Process is already running

According to the news, the process of reducing the number of employees is already underway. In December, the company reportedly fired more than 1,000 employees from different departments. The number of employees in FY 2024 has not been announced. The company said in its investor presentation that in recent years, our employee costs have increased due to investments in technology, merchant sales and financial services.

Also Read: Bank of Baroda revised the interest on FD, check the latest interest rate

The company’s financial results are affected

One97 Communications’ net loss widened to Rs 550 crore in the January-March quarter from Rs 168 crore a year ago, driven by a drop in its revenue. Revenue from operations fell 3% year-on-year to Rs 2,267 crore in the March quarter. The company believes that optimising cost structure, leveraging AI capabilities and focusing on core business will help achieve significant cost efficiencies.

Trouble for Paytm began on January 31, when the Reserve Bank of India (RBI) restricted Paytm Payments Bank from accepting additional deposits and top-ups and making credit transactions to customer accounts, among other restrictions. The RBI restrictions on the payments bank badly impacted its fourth quarter results. The company is now making vigorous preparations to prepare itself.

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Layoffs: With the beginning of the year 2024, the process of layoffs has intensified. Many big companies have announced layoffs this year. Now the name of another big German company has also been included in this list.

Bosch Group has decided to reduce 3,500 posts in its home appliance unit. According to the report published in Latestly, the company has informed on Friday 23 February 2024 that Bosch Group is going to eliminate a total of 3,500 jobs in the next three years i.e. by 2024.

Employees of this division will be victims of retrenchment

Bosch Group’s layoffs are going to impact the Bosch Home Appliances subsidiary the most. Giving information about the layoffs, the group said that the company has taken this decision to reduce its expenses and maintain competition with other companies in the market. Along with this, the company hopes that with this decision it will be able to increase its profit margin by reducing its expenses.

How many people does the company employ?

Bosch Group is going to lay off a total of 1,000 employees in the year 2024. The rest of the employees will be laid off in a phased manner in the next few years. The Bosch Group currently employs 60,000 people worldwide, of which the company has a total of 17,000 employees in Germany alone. Earlier, the company had announced layoff of 1,500 employees in December 2023.

The company has planned to do this layoff in the auto supply business. In the recent past, there has been a tremendous increase in the demand for EV vehicles all over the world including Germany. In such a situation, the company is laying off employees to invest towards EV by reducing its expenses.

So far this year, many renowned companies have announced layoffs, including big companies like Google and Amazon. Till now, jobs of more than 30 thousand people have become victims of layoff in 2024.

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Music streaming platform Spotify has recently announced that it will be cutting about 17 percent of its workforce. This major change marks a turning point for the company, which is facing increasing competition and rising costs. Spotify CEO Daniel Ek has announced the changes via a blog post.

CEO said this

Spotify CEO Daniel Ek said the company’s layoffs were due to the challenges of the economy and rising costs. One said that the company’s performance has been strong over the past few years, but the world economy has not been so good. One said these challenges have forced Spotify to think about how it spends its money and how many people it needs to do the job.

17% employees fired

Spotify CEO Daniel Ek announced in a blog post that the company will be cutting its workforce by about 17 percent. One said the decision was ‘difficult’ but necessary to “align Spotify with its future goals” and “stay on track for the challenges ahead”. One said Spotify is committed to providing compensation and support to employees to mitigate the impact of the layoffs.

Will help the laid off employees

The departing employees will be paid for their assistance. The amount of payment will be based on the length of service of the employees. Employees will also be paid for the holidays they have not yet taken. The company will still cover healthcare for the time being, and they will also help people with immigration issues related to their job. Additionally, departing employees will be provided access to services to help them find new jobs. These services will include job search assistance, advice and training.

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Layoffs were first announced by Amazon in November last year. This announcement made by the company at that time had an impact on operations in India and around 500 employees were furloughed.

180 employees furloughed from gaming division

According to the latest information, 180 employees have been furloughed from Amazon’s gaming division. In a mail sent by Christoph Hartmann, Vice President at Amazon Games, it was said that the company has decided to make some changes in its games initiative. Along with this, he further said that it has been decided to shutdown the Crown channel which streams on Twitch. Apart from this, it has also been decided to close down the unit marketing the products.

Amazon has announced job cuts in the gaming unit at a time when the company had laid off more than 100 employees in April itself. These layoffs have been made to the San Diego studio in its Prime Gaming and Game Growth divisions.

Layoffs also started from music and podcast divisions

News agency Reuters reported that Amazon has started layoffs in the music and podcast divisions. The company is focusing its entire attention on developing ‘Blue Protocol’ and free games. Let us tell you, free games are offered with Prime Gaming.

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Let us tell you that whenever a company shows the way out to an employee of its own free will, then severance charges are given to him by the company.

The company’s CFO gave this information

The company’s Chief Financial Officer Mark Mason has discussed the company’s earnings on a conference call, in which he has said that the company has cut the jobs of about 7000 employees overall this year. He further said that by the end of June, about 5000 employees have been laid off and its severance charge is around $450 million.

Why are jobs being cut?

While giving information, Mason has also said that due to repositioning charges the company has cut the jobs of the employees.

More layoffs may occur due to restructuring

The group has said in the report that due to restructuring, employees’ jobs are being cut, but the company has not yet disclosed the number of employee cuts.

240,000 employees are working

Let us tell you that even after retrenchment, the number of people working in the company is 240,000. Citigroup’s expenses increased 6 percent to $13.5 billion in the third quarter, which was less than experts’ estimates. According to the report, the bank is still expecting total expenses for the entire year at $54 billion.

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Fear of massive layoffs

Several current and former employees of Xiaomi India have told ET that there could be massive layoffs in the coming days, as Xiaomi is going to overhaul its India business. The company plans to reduce the number of employees in the Indian business to less than 1000. At the beginning of the year 2023, the number of employees of Xiaomi India was 1,400-1,500.

Now decisions are being made from China itself

Xiaomi India has done layoffs earlier also. The company has taken out of work this month about 30 employees. According to ET’s news, due to the extensive changes taking place in the business structure of Xiaomi India, most of the decision-making authority has gone to the China-based parent company. Now the parent company based in China is taking most of the decisions related to the operation of Xiaomi India.

The company has slipped to the third position

During the first quarter of the year 2023, there was a big decline in the shipment of Xiaomi India and it was reduced to just 5 million. Just a year before this, the shipment figure of Xiaomi India was 7-8 million. Xiaomi India has been occupying the first place in the Indian market for a long time, but now the company has come far behind. Right now Samsung is at the first position, while Vivo is at the second place.

ED has seized so much property

Xiaomi India has recently faced actions from government agencies. The ED has attached bank assets worth over Rs 5,500 crore of Xiaomi India on charges of wrongly sending money out of the country. The company has legally challenged the ED’s allegations and confiscation of assets.

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The Morning Context claims that BYJU’S sales and marketing team will suffer the most from this decision of the company. It was valued at $22 billion in the last funding round.

This news of BYJU’S is coming at a time when the company has filed a lawsuit against the lenders of its $ 1.2 billion term loan B, which it raised in the US in November 2021. The company has also said that it will not pay any further interest till the matter is resolved.

What steps did the company take

The company said in its statement that it has taken decisive action to challenge the US $ 1.2 billion Term Loan B (TLB) and file a complaint with the New York Supreme Court to disqualify Redwood Capital Management. According to Byju’s, these tactics included threatening to confiscate the company’s assets and demanding early repayment of loans.

The company has already done layoffs

According to media reports, earlier this year the company had laid off around 1,500 employees. Byju’s had fired around 1,500 employees citing cost and operations. It was said in Mint’s report that many departments were affected by this decision of Byju’s.

The CEO had said that there would be no retrenchment

Byju’s founder and CEO Byju Raveendran had assured employees in October that there would be no layoffs beyond the planned 2,500 employees. In May, Blackrock reduced the valuation of edtech major Byju’s by $8.29 billion.

The post Layoffs Again in 2023: BYJU’S again in the process of big layoffs, thousands of people will lose their jobs! first appeared on Rightsofemployees.com.

Margherita Della Valle, the new boss of Vodafone Company, said that 11,000 jobs will be cut in the next three years. Such a huge reduction in jobs will be due to loss in the business of the company.

The company’s new boss said that Vodafone’s cash flow is expected to decline drastically. This year a shortfall of around 1.5 billion euros has been estimated. Della Valle said that the performance of the people who were appointed permanently last month and the company has not been good.

Focus on simplifying services for customers

According to a Reuters report, Della Valle said that our priorities are customers, simplicity and development. In such a situation, to remain in the race of the telecom sector, along with removing the complications, the organization will be simplified. For this reason it is necessary to cut jobs.

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Biggest cut ever

Vodafone Group does business in many countries including India. About 1 lakh people are employed in this company. The reduction in 11,000 jobs is the biggest cut for this company so far. Vodafone said it will generate around 3.3 billion euros in cash this fiscal year. At the same time, by the end of March, compared to 4.8 billion euros, experts were expecting about 3.6 billion euros.

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Amazon will remove 18 thousand employees

Seller onboarding function has been discontinued in Kochi and Lucknow. Although Amazon’s sources have not given any reaction on this. Amazon is laying off employees for the second time in recent months. In the beginning of this year, the company had said that about 18,000 employees would be laid off. In November 2022, it was reported that Amazon would eliminate many jobs from India under its global plan.

Amazon closed many of its businesses in India

Amazon is still growing in the company. One of its largest sellers, Appario, is transferring inventory to a new seller to comply with regulations in India. Last year, Amazon had shut down several businesses including its food, delivery, edtech and wholesale distribution in India.

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Layoffs continue in Amazon

Let us tell you that in the last January, the company had laid off employees in many of its offices including Gurugram, Bengaluru. Most of the retrenchments were done from loss-making departments. Due to the economic recession, there has been a stir in most of the IT companies. Due to the fear of global recession, many other companies are also engaged in retrenchment of their employees.

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