U.S. jobless claims rise to 242,000, highest level in three months
The number of Americans filing for unemployment benefits rose to 242,000 for the week ending February 22, marking a three-month high, according to the U.S....
Tag : layoffs
UK businesses brace for record job cuts amid rising costs
UK businesses are preparing for the largest wave of redundancies in a decade as confidence in the economic outlook plummets, driven by tax increases set...
BP announces 4,700 job cuts amid cost-saving measures
BP, one of the world’s leading energy companies, announced on Thursday a significant workforce reduction as part of a broader cost-saving initiative. The British oil...
Volkswagen plans 15,000 job cuts amid plant closures
MENA Newswire News Desk: Volkswagen may face the grim prospect of slashing 15,000 jobs amid escalating financial pressures, with analysts predicting closures of multiple production...
Ebay’s Web3 division cuts 30% of workforce amid speculation
Ebay, a major player in e-commerce, has reportedly made substantial changes within its Web3 division, resulting in a significant downsizing. Approximately 30% of the division's...
Snap Inc. announces 10% workforce reduction, impacting 500 jobs
In a significant strategic move, Snap Inc., the parent company of Snapchat, has announced its intention to reduce its global workforce by 10%. This decision...
Microsoft hits $3 trillion market value, trails Apple
Microsoft, a tech giant with a storied history, reached a monumental milestone today by achieving a market value of over $3 trillion. In doing so,...
Inflation cools rapidly, paving the way for economic confidence in 2024
As the year 2023 drew to a close, many had anticipated it would be marked by economic turmoil and recession fears. However, it defied expectations...
Vietnam shoemaker PouYuen to lay off 6,000 workers amid plummeting demand
One of Vietnam's leading shoe manufacturers, catering to brands like Nike Inc and Adidas AG, announced plans to lay off thousands of employees due to...
Shopify cuts workforce by 20 percent, sells logistics arm to Flexport for equity stake
Shopify has announced plans to reduce its workforce by 20%, impacting over 2,000 employees, and has agreed to sell its logistics business to Flexport in...