As per a report in Financial Daily, with several tech companies laying off staff across the country, OLX Group has also announced that it is laying off 15% of its global workforce due to slowing demand for its offering. It is engaged.
The company will sack around 1500 employees The Financial Express where did it go. ,
In an official statement, an OLX spokesperson said that the company is taking necessary measures to reduce its cost structure keeping in view the macroeconomic conditions.
Meanwhile, Dutch health technology company Philips has also announced another 6,000 lack of employment Worldwide it seeks to restore its profitability and improve the safety of its products following a recall of respiratory devices that slashed 70% of its market value.
Companies including Alphabet’s Google, Microsoft, Amazon, and German software maker SAP announced thousands of layoffs to cut costs as they brace for tougher economic conditions, adding to a string of technology-based firms making layoffs. Is.
tech giants, Google It has also laid off 12,000 employees globally. After laying off employees, reports emerged that Google CEO Sundar Pichai is set to take a major chunk of his pay cut amid tough macroeconomic conditions and layoffs.
Goodyear Tire & Rubber Co. also announced nearly 500 layoffs, setting off a wave of job cuts across broader corporate America as the company cuts costs in response to weak demand and rising inflation. The company said it is battling inflation in areas such as wages and benefits, while countering gains from falling raw material costs.
Last week, International Business Machines Corp., has also joined the wave of layoffs companies said it would cut around 3,900 jobs.
(with inputs from agencies)
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