Business

According to data from Layoffs.fyi, which has consistently tracked job cuts since the beginning of the pandemic, shows that an average of 1,600 tech employees have been laid off each...

Layoffs have swept through Wall Street this week, impacting thousands of employees from the world’s biggest banking institutions.

According to an internal memo from Kathleen Hogan, chief people officer at Microsoft, salaried US workers will have “Discretionary Time Off” starting Jan. 16.

New York-based Common and Berlin-based Habyt will come together to create Habyt Group, giving the newfound company a portfolio of around 11,000 coliving spaces around the world.

Employees at the Hemel Hampstead, Doncaster and Gourock sites will have the opportunity to transition internally to nearby warehouses.

According to the CEO’s email to staff, he emphasized the importance of in-person collaboration for the company, adding “nothing can replace the ability to connect, observe, and create with peers.”

“We have thousands of people within Trust and Safety who work content moderation and have not made cuts to the teams that do that work daily,” said Ella Irwin, vice...

Layoffs are expected to affect many of the company’s departments, but will mostly be geared towards its investment banking arm, which has struggled due to a disappointing stock market.

Employers state that noncompetes help protect proprietary company information. However, President Biden argues that this type of restriction doesn’t just impact big trade secrets.

According to CEO Andy Jassy, departments that the 18,000 employees to be impacted will include human resources teams and Amazon Stores.