The software company plans to cut around 8,000 jobs as business slows for tech companies. “We hired too many people leading into this economic downturn,” Salesforce’s chief executive said.
Category: Layoffs and Job Reductions
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As Silicon Valley Retrenches, a Tech Talent Shift Accelerates
Most tech jobs are now in mainstream industries like health care, banking and retail, which are increasingly in need of workers with digital skills.
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Google Employees Brace for a Cost-Cutting Drive as Anxiety Mounts
The tech giant has so far taken steps to streamline without mass layoffs, but employees are girding for deeper cuts.
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Jeep Plant Shutdown Imperils Illinois Town and 1,350 Workers
Stellantis plans to idle the factory, which makes the Cherokee, as it shifts to electric vehicles. Labor talks and a union election may be affected.
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For Many Wall Street Bankers, This Year’s Bonus Season Is a Bust
There were fewer mergers and public listings this year, shrinking investment banking revenue. For bankers, that means a smaller pot of money for bonuses.
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Streaming’s Golden Age Is Suddenly Dimming
After years of breakneck growth, the number of scripted TV series orders made by networks and streamers is in decline.
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How a Sprawling Hospital Chain Ignited Its Own Staffing Crisis
Ascension, one of the country’s largest health systems, spent years cutting jobs, leaving it flat-footed when the pandemic hit.
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Washington Post Publisher Announces Plan for Job Cuts
Fred Ryan, the news outlet’s publisher, said in a meeting with employees that cuts jobs would amount to a single-digit percentage of staff.
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The Week in Business: Labor Actions Sweep Britain
The national average gasoline price has fallen to where it was a year ago. China’s economy is not expected to bounce back quickly, as it rolls back “zero Covid” policies. And the Fed meets.
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China’s Youths, Stung by Years of Covid Rules, Fear Grim Job Future
A sluggish economy continues to leave many young people unemployed, with few job prospects or hopes to tap into the rising incomes their parents enjoyed during boom times.
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An Activist Investor Takes on BlackRock Over E.S.G.
A hedge fund sees BlackRock’s embrace of E.S.G. principles as a distraction, and it wants the money-management giant’s C.E.O., Laurence Fink, to step down.