Tag: Cuts

  • Citigroup’s Management Contemplating Major Job Cuts in Ongoing Reorganization

    Citigroup (C.N), one of the world’s leading financial institutions, is reportedly considering job cuts of at least 10% in several of its major business units, CNBC reported, according to sources familiar with the matter. The news comes as the bank continues its extensive reorganization efforts under the leadership of CEO Jane Fraser. What’s happening? Citigroup…

  • Hertz Slows EV Adoption, Blames Tesla Price Cuts, High Repair Costs

    In recent news, General Motors and Ford made headlines by postponing their investments in electric vehicles (EVs), attributing this shift to waning demand for battery electric vehicles (BEVs) and the ongoing price battle instigated by Tesla earlier this year. However, this cautious stance towards EVs isn’t limited to Detroit’s automotive giants. Hertz, a renowned player…

  • Unacademy’s Graphy cuts about 30% jobs; company denies layoffs, cites performance as reason

    A startling development has surfaced in the constantly changing world of Unacademy, the Indian edtech behemoth. Graphy, a software-as-a-service (SaaS) platform from Unacademy, recently made headlines when it announced the departure of 20–30% of its staff, or about 50 committed workers. Unacademy has provided a different viewpoint, asserting that these employment losses are performance-driven rather…

  • Volkswagen plans job cuts, further launch delays at software unit – manager magazin

    One of the top automakers in the world, Volkswagen, has revealed a big change within its Cariad software division. Two thousand jobs will be eliminated by the corporation as part of a larger reorganization strategy. The car industry as a whole as well as Volkswagen’s software initiatives will be greatly impacted by this choice. Credits:…

  • Tesla Investors Push Musk to Spend on Ads, Concerned About Price Cuts

    Gary Black, a prominent supporter of electric vehicle giant Tesla, has been raising concerns about the company’s strategy. Black, a Chicago fund manager, has consistently held Tesla as his top or second-highest holding since he established his fund in 2021. He often takes to social media, and occasionally appears on CNBC, to express his support…

  • Tesla loses market share in US despite price cuts

    The electric vehicle (EV) market is evolving at breakneck speed, and one name that has long been synonymous with EV innovation, Tesla, is no longer enjoying the undisputed dominance it once did. Recent data reveals that, while Tesla maintains its status as the leading EV manufacturer in the American market, its market share is gradually…

  • Virgin Galactic Rises On Space Tourism Revenue, Job Cuts

    Virgin Galactic is spinning into a new orbit in the ever-dazzling world of commercial space travel with daring decisions like laying off 18% of its staff and pausing space flights starting in mid-2024. This intergalactic makeover is a calculated dance towards the future, with their next-generation Delta spaceplane taking center stage. It’s not just about…