Company layoffs thread 2020/coronavirus recession layoffs

[ring_master]

5 hours ago, MiryalgudaMaruthiRao said:

Zume padinda?

Pizza maker zume gurincha

[snoww]

 

Magic Leap reportedly slashes 1,000 jobs and steps away from consumer plans

 

Magic Leap  laid off a “number of employees” this morning and announced they were backing away from their consumer ambitions to focus more heavily on selling to enterprise customers.

Bloomberg reports that half of Magic Leap’s employees were laid off, roughly 1,000 in total. Magic Leap was in the process of exploring a sale, Bloomberg had also reported, one that could value the company at $10 billion. Magic Leap is one of the most well-capitalized consumer hardware startups ever, having raised more than $2.6 billion from investors, including Google, Alibaba and Saudi Arabia’s Public Investment Fund.

[snoww]

SoftBank-backed Automation Anywhere starts layoffs

Dan Primack

Illustration: Aïda Amer/Axios
Automation Anywhere, a robotic process automation company valued at $6.8 billion last fall by venture capitalists, began laying off hundreds of employees on Monday, Axios has learned.

Why it matters: The coronavirus pandemic will push more enterprises toward automated software, but the shift isn't happening fast enough to stem top-line losses for Silicon Valley companies like AA.

What they're saying:

"Due to the Covid-19 pandemic and the changes it has brought to the global economy, Automation Anywhere is adjusting operations and restructuring parts of the company, which will result in a workforce reduction. Although we are confident in the company’s strength and ability to grow going forward, given the current circumstances, we must reduce expenses in some areas and realign our resources to new skill sets in key growth areas, such as cloud and digital, that offer higher value service to customers."
— Automation Anywhere spokespersonAutomation Anywhere declined to specify how many of its 2,600 employees are receiving pink slips, although Axios has heard the number is north of 10%.

Investors: The San Jose, California-based company has raised $840 million in venture capital funding from firms like SoftBank, Salesforce Ventures, Goldman Sachs, NEA, Workday Ventures, General Atlantic and World Innovation Lab.

[BeerBob123]

On 4/22/2020 at 6:49 AM, ring_master said:

Pizza maker zume gurincha

yes

[BeerBob123]

51 minutes ago, snoww said:

SoftBank-backed Automation Anywhere starts layoffs

Dan Primack

Illustration: Aïda Amer/Axios
Automation Anywhere, a robotic process automation company valued at $6.8 billion last fall by venture capitalists, began laying off hundreds of employees on Monday, Axios has learned.

Why it matters: The coronavirus pandemic will push more enterprises toward automated software, but the shift isn't happening fast enough to stem top-line losses for Silicon Valley companies like AA.

What they're saying:

"Due to the Covid-19 pandemic and the changes it has brought to the global economy, Automation Anywhere is adjusting operations and restructuring parts of the company, which will result in a workforce reduction. Although we are confident in the company’s strength and ability to grow going forward, given the current circumstances, we must reduce expenses in some areas and realign our resources to new skill sets in key growth areas, such as cloud and digital, that offer higher value service to customers."
— Automation Anywhere spokespersonAutomation Anywhere declined to specify how many of its 2,600 employees are receiving pink slips, although Axios has heard the number is north of 10%.

Investors: The San Jose, California-based company has raised $840 million in venture capital funding from firms like SoftBank, Salesforce Ventures, Goldman Sachs, NEA, Workday Ventures, General Atlantic and World Innovation Lab.

ee soft bank vaadu  company lo cheyya vestry idi nasanam laaga undi ga

[MRI]

7 minutes ago, BeerBob123 said:

ee soft bank vaadu  company lo cheyya vestry idi nasanam laaga undi ga

nee CTO ni satisfy chesava leda?

[BeerBob123]

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[MRI]

1 minute ago, BeerBob123 said:

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[BeerBob123]

Just now, MRI said:

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[MRI]

1 minute ago, BeerBob123 said:

annitloni

chilipi rasika raaja vi avutunnavu kada

[snoww]

50 minutes ago, BeerBob123 said:

ee soft bank vaadu  company lo cheyya vestry idi nasanam laaga undi ga

Yeah bad time for him. WeWork penta tho assam ayipoyadu

[snoww]

TripAdvisor Inc. TRIP, +2.13% announced Tuesday it would eliminate nearly a quarter of its workforce due to the economic hit caused by the coronavirus shutdown. In a blog post, co-founder and Chief Executive Steve Kaufer said more than 900 employees will be laid off -- mostly in the U.S. and Canada -- and "a number" of employees will be furloughed, while most other salaried workers will be asked to take a 20% pay reduction and reduced work schedule through the summer months. "Sometimes, the most valiant of efforts aren't enough to counter outside circumstances and, as a public company, it is our responsibility to adjust, adapt and evolve to the environment that surrounds us," Kaufer wrote in a letter to employees, noting the company had already undertaken two rounds of cost reductions. "As CEO, you plan for the best and worst case outcomes that could affect our business. Unfortunately, there is no playbook for this moment that we're in together right now." Kaufer thanked all his employees for their efforts and announced the launch of an "alumni network" to help the laid-off workers find new jobs. The company will also temporarily pause its 401(k) matching, and will close its offices in San Francisco and Boston, though remaining workers there will be able to work from home. TripAdvisor shares are down 37% year to date, compared to the S&P 500's SPX, -0.52% 11% decline.

 

[snoww]

Lyft is laying off 982 employees — 17% of its workforce — as it tries to reduce costs amid plummeting demand for rides. It is furloughing hundreds more workers, and cutting pay.

"It is now clear that the COVID-19 crisis is going to have broad-reaching implications for the economy, which impacts our business," said Logan Green, the ride-hailing company's CEO, in a statement. "We have therefore made the difficult decision to reduce the size of our team. Our guiding principle for decision-making right now is to ensure we emerge from the crisis in the strongest possible position to achieve the company's mission."

[AndhraneedSCS]

Juul Labs  is looking to cut between 800 and 950 employees as part of a broad restructuring plan.

  

https://www.wsj.com/articles/juul-labs-preparing-to-cut-more-than-30-of-staff-11588174780

[snoww]

Ticketmaster North America Furloughs a Quarter of Company’s Employees

Hundreds of staffers will receive health benefits but otherwise lose their salaries starting May 1, as the concert business faces any resumption of live music on a national scale being months away.