Samsung Electronics, the world’s leading manufacturer of smartphones, TVs, and memory chips, is reportedly planning to cut its overseas workforce by up to 30% in some divisions. The job reductions, expected to be completed by year’s end, are part of a cost-cutting strategy to navigate slowing global demand for tech products and increase profitability.
Results for: Layoffs
Volkswagen is ending decades-old job guarantees at six German plants, potentially leading to layoffs from next year. This move, part of a cost-cutting drive to compete with cheaper Asian rivals, has sparked a showdown with workers and raised concerns about the future of Germany’s industrial relations model.
Rocksteady Studios, the developer behind the Batman: Arkham series, has reportedly laid off several employees following the poor performance of their latest game, ‘Suicide Squad: Kill the Justice League’. The layoffs primarily affected the quality assurance (QA) team, with reports suggesting a significant reduction in staff. This decision comes after the game’s disappointing sales, which reportedly cost Warner Bros. Discovery Inc. $200 million in lost revenue.
Rocksteady Studios, known for the successful Batman Arkham series, has reportedly downsized its quality assurance (QA) teams by nearly half following the disappointing sales of ‘Suicide Squad: Kill the Justice League’. The game’s underperformance, which led to a significant financial loss for Warner Bros. Discovery, has resulted in layoffs within the company’s games division. This move highlights the importance of QA in game development and raises concerns about the impact on future projects.
An anonymous post by an Amazon employee claiming to have earned a significant salary while doing minimal work has gone viral, sparking debate on work ethics and the realities of tech industry compensation. The post, shared on the professional forum Blind, details how the employee leveraged automation and meetings to achieve a seemingly effortless lifestyle within Amazon, earning approximately ₹3.1 crore. While some users applaud the individual’s skills and questioned the company’s management, others criticized the employee’s actions and linked it to the recent wave of tech layoffs.
Apple has reportedly laid off around 100 employees from its services division, primarily affecting teams working on Apple Books and Apple News. This follows previous rounds of layoffs earlier this year, but Apple continues to report strong financial results.
Embracer Group, a major player in the video game industry, has implemented significant cost-cutting measures to improve profitability. This has resulted in layoffs, studio closures, and game cancellations, impacting thousands of employees and projects. This analysis dives into the financial figures and visual representations of these reductions, revealing the scale of the cuts.
Ubisoft, the French video game publisher, has announced layoffs affecting 45 employees at its San Francisco and Red Storm Entertainment studios in North Carolina. This follows a string of cuts throughout 2023 and 2024 as the company restructures in response to industry changes and financial pressures.
General Motors is cutting over 1,000 jobs globally in its software and services division as part of a cost-cutting strategy to streamline operations and invest in emerging technologies like electric and software-defined vehicles. The layoffs follow recent leadership changes and reflect the auto industry’s response to a potential downturn and increasing competition in markets like China.
Mastercard is cutting its global workforce by 3%, impacting around 1,000 employees. The company cites realignment and investment in long-term opportunities as reasons for the reduction, which is expected to be completed by September 30. Despite the layoffs, Mastercard reported strong second-quarter results, exceeding revenue and earnings estimates.