Major Companies Firing Employees: What You Need To Know

Since the beginning of 2024, major companies have been announcing large-scale layoffs. These layoffs have been caused by economic downturns, company restructuring, mergers, shifts in business strategies, etc. 

Tata Steel UK Layoffs

Tata Steel UK, a subsidiary of Tata Group, is firing around 2,500 employees. The CEO, T V Narendran, said, “The loss of the UK site, which is in a transition phase, is inevitable.” Meanwhile, the workers are constantly protesting against the company, as per a PTI (Press Trust of India) report.

Tesla Layoffs

The American multinational automotive company Tesla, led by Elon Musk laid off its entire charging team of 500 members. Tesla’s supercharger network has been significantly impacted by these layoffs even after it has partnered with major automakers, such as Ford and General Motors, to use its connectors. 

Indeed Layoffs

The global employment website Indeed laid off 1000 employees recently, which was around 8% of its workforce. This layoff is a part of the company’s plan to streamline and optimise its structure. With this step, Indeed is aiming to improve operational efficiency and better align its resources for its long-term business goals. 

Toshiba Layoffs

The Japanese electronic giant Toshiba revealed it would fire 4,000 domestic employees. The move is related to Toshiba’s restructuring plans. This restructuring happened because the company got delisted, after which Toshiba went through a 13 billion acquisition with  JIP (Japan Industrial Parties).

Microsoft Layoffs

Microsoft has announced plans to fire 2000 employees from its Xbox division. The Xbox boss, Phil Spencer, shared a memo and revealed this news to workers. The decision is caused by a combination of financial underperformances.  

The continuous layoffs show that companies are facing greater economic and strategic challenges and trying to manage financial strains and adapt to market conditions. Because of the constant layoffs, the impact on workers and the global workforce has become a major concern. 

Leave a Reply