Seven West Media, one of Australia’s top media networks, announced that it would be laying off 150 of its staff due to weak advertising and as a way of preparing for the end of its commercial deal with social media giant Meta.
Tags: Job cuts
Intel Will Lay Off Over 15,000 Workers After Posting a $1.6bn Loss in Revenue
The majority of the layoffs will be completed by the end of 2024, Intel said. Chip maker Intel on Thursday announced it plans to lay off more than 15,000 workers after it lost more than $1 billion in revenue in the second quarter.
Intel Announces Massive Job Cuts, Cites Cost-Cutting Measures
Intel announced that it was making thousands of jobs redundant in order to reduce costs and to be able to afford an ambitious effort to rebound from an earnings slump and recent weak market share performances.
Burberry Prepares to Cut Jobs Due to Plummeting Sales
British luxury clothing retailer Burberry announced that it was making hundreds of jobs redundant after allegedly initiating a restructuring program as a reaction to a drop in profits.
Sony Cuts Jobs in Optical Media Plant, Phases Out Physical Disc Production
Sony announced that it would phase out recordable disc development and production after cutting up to 250 jobs at its optical media unit in northeastern Japan.
Latest News
News Corporation’s Australian division began purging its middle management staff as a result of the deal it struck with OpenAI.
Middle managers are at risk of being laid off when companies resort to layoffs to save money. Middle managers are at risk of being laid off when companies resort to layoffs to save money.
Boeing has reportedly executed more substantial cuts than anticipated in its strategy teams. Boeing has reportedly executed more substantial cuts than anticipated in its strategy teams.
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
Qatari media network Al Jazeera is announcing its plan to cut 50 jobs as a part of an optimization initiative. As a partly state-funded company, Al Jazeera is impacted by the slump in oil prices, which is the country’s main sector.
CEO Tidjane Thiam determine to pursue further restructuring in Credit Suisse. The Swiss bank will cut more 2,000 jobs and cut more of its business.
LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.
Schlumberger Ltd, on Thursday, reported a net loss of $1 billion for the fourth quarter and also said that it has axed 10,000 additional employees, as an effort to adjust its resource and cost base.
The publishing company has experienced tough times in the market where profits declined and shares dropped. The plan is expected to deliver more earnings growth in the long run with the simplification and reducing of costs. The company's chief also attributed their difficult times to challenging markets and unpredictable changes.
