1️⃣ eBay's Cutbacks 🔍
eBay is the latest to join the layoff league, cutting 9% of its workforce, approximately 1,000 employees. CEO Jamie Iannone cited outpaced expenses as a key reason, highlighting the need for restructuring to align costs with business growth.
2️⃣ Wayfair's Third Wave 🌊
Wayfair announced its third major layoff, slashing 13% of its global workforce, around 1,650 jobs. The cuts include 19% of its corporate team. With $1.3B in cash reserves, Wayfair's "back to focused, fit and lean" strategy aims to enhance efficiency amid ongoing economic challenges.
3️⃣ TikTok's Reorganization 📱
Social media giant TikTok confirmed the layoff of 60 employees, mainly impacting sales and advertising departments. This move is part of a routine reorganization, reflecting the platform's strategic adjustments in a dynamic digital landscape.
4️⃣ Riot Games' Reduction 🎮
Riot Games, known for "League of Legends," announced an 11% staff reduction, affecting 530 jobs. The company acknowledged that some investments didn't yield expected returns, necessitating realignment of resources.
5️⃣ Brex's Downsizing 💳
Fintech startup Brex laid off 282 employees, about 20% of its workforce. This decision reflects the broader trend of tech companies revisiting their growth strategies and operational efficiencies in a fluctuating economic environment.
Do you think it is just begining or we are almost over with New Year reconstructions
