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Tag: layoff

  • Zoom lays off 2 per cent of its workforce

    Zoom lays off 2 per cent of its workforce

    Mumbai – Zoom Video Communications, a renowned tech company decided to lay off 150 people which is around 2 per cent of its workforce. According to media reports Zoom Company confirmed the layoff of its workplace. In the last February Zoom terminated or cancelled 1300 positions which is 15 per cent of its total workforce. Lay off news reported initially by Bloomberg.

    Company decided to restructure its hiring requirements and plan to hire people in future for critical functioning. Many other companies like Microsoft, Google, Amazon, and Salesforce had been laid off recently for reworking their internal strategies. The reason for the layoff is not into the public domain but a company spokesperson emphasising as a regular internal strategic decision.

  • Byju’s to dismiss 4,000 employees post CEO switch

    Byju’s to dismiss 4,000 employees post CEO switch

    Mumbai: One of India’s largest ed-tech startups, Byju’s, plans to give pink slips to about 4,000 employees, suggest media reports. This decision comes in light of the appointment of Arjun Mohan as the company’s new CEO for India.

    As per this round of layoffs, senior executives will be under the radar; the firm is looking at cutting high expenses related to senior management.

    Media reports bring out that there is a concern at Byju’s with regard to the cash flow, and this step will help resolve the same by the end of October.

    Byju’s also plans to reduce the overlays between its online and offline staff and its staff in its regional sales offices. Instead of 19 regional offices, the company will now have offices only at four or five locations.

    Mohan was roped in as the new India chief on 20 September. He is a former upGrad executive who had previously worked at Byju’s, and will be responsible for over 75 per cent of the company’s revenues. Though he joined Byju’s a month ago, he has been working with them in an informal capacity for a while.

    Byju’s parent company Think & Learn Pvt. Ltd, excluding the subsidiaries, had over 19,000 employees, including contract staff, at the end of August. Post layoffs, this is expected to be reduced to 15,000.

  • Yahoo! may lay off staff in Bengaluru to scale-down India operations

    Yahoo! may lay off staff in Bengaluru to scale-down India operations

    NEW DELHI: Yahoo is reducing the size of its operations in Bangalore, including possible layoffs. The operations in Bangalore are the largest engineering facilities of the Internet company outside its California headquarters.

     

    The company said, in a statement, that it was consolidating “certain teams into fewer offices” in Bengaluru but it would continue to have a presence there. It is learnt that the move comes more than a week after activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a “bloated” cost structure.

     

    Yahoo, a one-time Internet pioneer, is trying to revive stagnant revenue growth under the leadership of CEO Marissa Mayer, who took over two years ago. According to the sources, Yahoo had roughly 2000 employees in Bengaluru in March 2013.

     

    One of the sources said that at the time, Mayer was considering the option of bringing certain jobs from India back to Sunnyvale, California, to unite more of Yahoo’s product development at the home base.

     

    “As we ensure that Yahoo is on a path of sustainable growth, we’re looking at ways to achieve greater efficiency, collaboration and innovation across our business,” Yahoo’s statement said.