Micro-Warehouse Provider Pivots as Retail Consumer Market Shifts

An operator of small, automated distribution centers in densely populated areas is cutting its workforce and shifting its business strategy as grocers and retailers shift their focus to automated fulfillment operations inside stores. Israel-based robotics startup Get Fabric Ltd., which has placed so-called microfulfillment centers in New York City and Dallas, is focusing on selling … Read more

Signs of global slowdown? 60 top companies fired employees in August

A global slowdown and impending fears of recession have prompted companies across the board to trim their headcount. According to GlobalData’s news database, over 60 top companies announced layoffs in the month of August 2022 alone. From Microsoft to Apple to Tencent to Xiaomi to Snap, the big tech behemoths fired employees as uncertain macroeconomic … Read more

Jobless claims edge up to 213,000 but still show strong US labor market and few layoffs

The numbers: The number of people who applied for unemployment benefits last week rose by 5,000 to 213,000, but new jobless claims are still quite low and reflect strong demand for labor even in a weakening US economy. The increase in new claims was the first in five weeks, but it was basically a statistical … Read more

HSBC trims UK investment bankers as layoffs pick up pace

HSBC has trimmed front-line staff from its investment bank in the UK, as a dealmaking slump this year is seen to prompt a fresh round of layoffs across the sector. The UK lender, which is in the midst of an ongoing cost-cutting exercise unveiled in February 2020, has axed a handful of roles within its … Read more

Credit Suisse draws up plans to split investment bank in three

Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more

Meta Quietly Reduces Staff in Cost-Cutting Push

Meta Platforms Inc. META -2.72% is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans. The Menlo Park, Calif., company has begun quietly nudging out a significant number of … Read more

Meta and Google Are Cutting Staff. Just Don’t Mention Layoffs.

In response to stalling growth and intense competition, Meta META -1.75% Platforms Inc. executives have spoken of cost cuts, hiring freezes and “ruthless prioritization.” One word the company hasn’t used: layoffs. But Meta has begun quietly nudging out a significant number of staff by reorganizing departments and giving affected employees a limited window to apply … Read more

Gap Is Cutting 500 Corporate Jobs

Gape Inc. GPS -2.99% is eliminating about 500 corporate jobs, according to people familiar with the matter, moving to reduce expenses at the apparel retailer amid declining sales and profits. The jobs are mainly at Gap’s main offices in San Francisco and New York, as well as in Asia, the people said. The company is … Read more

Almost 100 Facebook janitors laid off as Silicon Valley service-worker cuts continue

Nearly 100 Facebook janitors were laid off from the tech giant’s California offices Friday, two months after being told their jobs would be safe. The number of job cuts was actually supposed to be closer to 120, but about 30 janitors are being placed elsewhere, according to workers who spoke with MarketWatch as well as … Read more

Goldman Sachs plans layoffs for poor performers starting this month

In a return to pre-pandemic practice of hiving off low-performing staff from the bank, Goldman Sachs is set for a round of job cuts. The US investment bank is set to ax jobs in plans that could trigger the earliest layoffs as soon as next week, The New York Times reported, according to people familiar … Read more