AMAZON JOB LAYOFF
Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffs
The EB-5 visa program provides stability, job creation, and a streamlined immigration process, making it a reliable alternative for those facing uncertainties in the tech industry. With a direct path to green card status and economic growth opportunities, EB-5 offers a secure pathway to permanent residency.
Zoho applies for semiconductor manufacturing facility in India
Software company Zoho, aiming to tap into India's aspirations to become a global semiconductor player, has applied with a partner to set up a semiconductor manufacturing facility in India. Co-founder Sridhar Vembu confirmed the move, citing a stringent evaluation process. The initiative aligns with India's semiconductor manufacturing incentive plan.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
Consumer firms plan IPO; startups on poll mandate
India's public market will see about a dozen consumer companies make a debut on the bourses. More on this in today's ETtech Top 5.
Microsoft to lay off about 1,500 employees at Azure cloud unit: report
Microsoft is cutting hundreds of jobs at its Azure cloud unit, impacting teams like Azure for Operators and Mission Engineering, as reported by Business Insider.
Tech giants Amazon & Google suspend green card applications amid layoffs
Amazon and Google have halted green card applications for immigrants in the United States for 2024, citing recent tech industry layoffs, including those at Microsoft. This decision adds to the challenges faced by foreign workers, especially in the tech sector. Both companies have paused PERM applications, which are crucial for obtaining permanent labor certification and initiating the green card process. Amazon announced the suspension earlier this year, extending it through 2024, while Google suspended PERM applications in January 2023, coinciding with layoffs.
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Decoding why Amazon & Google suspended green card applications
Amazon and Google have reportedly paused green card applications due to increased difficulty in the process, as reported by TOI. According to Business Insider, both companies stopped accepting PERM applications in 2023 and may not resume them soon. Alphabet-owned Google and Amazon halted the certification process in 2023. Google employees have been informed that the company will not restart PERM processing until at least Q1 2025, as per a memo from a current employee. Similarly, Amazon announced it would pause new PERM filings throughout 2024.
Is the NRI dream fading? Find out how it is becoming more difficult for Indians seeking higher education, jobs abroad
This story is playing out across the most sought-after destinations, such as the US, Canada, UK, Europe and Australia, among others. If you are dreaming of a cosy life abroad for your ward or looking to shift overseas yourself, exercise caution. The grass may no longer be greener on the other side.
Google layoffs: Tech giant undertakes fresh job cuts in cost optimisation push
Alphabet-owned Google is undergoing a restructuring, with layoffs and expansion plans in key hubs like India, Chicago, Atlanta, and Dublin. Concerns are being raised about further job cuts amid economic uncertainties as Google seeks to enhance efficiency and align resources with product objectives.
Amazon Web Services lays off hundreds of tech, sales staff: report
Amazon Web Services has laid off a few hundred employees in its unit that works on technology for physical retail stores, and several hundred more in its sales, marketing and global services division, news site The Information reported on Wednesday.
Jobs on the line: Remote workers in the United States often first to get laid off despite legal risk
Remote workers face higher layoff rates and lower promotion chances, potentially leading to discrimination lawsuits. Employers must navigate legal risks and consider fair and equitable work environments while balancing in-person and remote work preferences.
Cisco to lay off thousands of employees to focus on high growth areas
The San Jose, California-based company has a total employee count of 84,900 as of fiscal 2023, according to its website. The company is still deciding on the total number of employees to be affected by the layoffs, one person said.
Why is Big Tech still cutting jobs?
Google started the year with layoffs of several hundred employees and a promise of more cuts to come. Amazon followed by trimming hundreds of jobs in its Prime Video department. Meta quietly thinned out middle management. Microsoft also cut 1,900 jobs in its video game division.
Snap to lay off 10% of its workforce as spate of job cuts continue
The Snapchat parent expects pre-tax charges in the range of $55 million to $75 million, primarily consisting of severance and related costs, and other charges, of which $45 million to $55 million are expected to be future cash expenditures.
Where the jobs are: Strong hiring in most American industries has far outpaced high-profile layoffs
Blockbuster job growth in recent months has coincided with high-profile layoffs in technology, finance, and media sectors. Companies that over-hired during the pandemic are now shedding jobs as the economy normalizes. Despite layoffs, job gains in other industries remain strong, with manufacturers, restaurants, hotels, entertainment companies, and healthcare providers adding significant numbers of jobs.
Spate of job cuts continues unabated at Big Tech, media firms
The first month of the new year ends with Big Tech and media companies continuing to announce fresh job cuts, a sign that the spate of layoffs seen in 2023 could persist as firms grapple with economic uncertainty.
Focused cuts and fewer layers: Tech layoffs enter a new phase
Last year, tech giants like Meta, Amazon, Google, and Microsoft laid off employees and saw their stock prices rise. This year, they are making smaller, targeted job cuts while focusing on key products like AI. Smaller tech startups are also slashing jobs to survive. The layoffs are a correction after years of a booming global economy and near-zero interest rates. Tech executives are now admitting to over-hiring during the pandemic. In the first 30 days of 2024, approximately 100 tech companies have seen 25,000 job cuts. Consolidation and cost-cutting are expected to continue in the industry.
Tech layoffs in 2024: TikTok, Google and Amazon among companies undertaking job cuts
The new year brings more job cuts to the tech industry as layoffs continue in 2024. Thousands of tech and startup employees have been laid off, with 48 tech companies sacking 7,528 employees so far. Big Tech giants like Google and Amazon are planning to cut more jobs to reduce costs. Riot Games, Google, Amazon Audible, Amazon Prime Video, Twitch, Discord, Unity Software, Xerox, and Frontdesk are among the tech companies that have announced layoffs in 2024.
Layoffs in 2024: List of companies that announced job cuts so far this year
According to data from Layoffs.fyi, a layoff-tracking website, a total of 2,62,595 employees were laid off last year by 1,187 tech companies. So far in January, 91 tech companies have already fired 24,564 employees.
Salesforce laying off 700 workers in latest tech industry downsizing: report
According to the Wall Street Journal, Salesforce still has 1,000 jobs open across the company, implying that the move could be more of a routine adjusting of the company's workforce
eBay to slash 1,000 jobs, scale back contracts
The job cuts follow a wave of US tech layoffs after the industry hired heavily during the pandemic, including among behemoths such as Amazon and Google.
This viral memo from CEO of US online retailer sparked major backlash, leading to calls for 'boycott'
US online retailer Wayfair is set to cut 1,650 jobs, amounting to 13% of its workforce, following a controversial memo from CEO Niraj Shah. In the leaked memo, Shah urged employees to work longer hours, prompting public backlash and calls for a boycott.
Google braces for more layoffs after thousands fired in New Year: report
Google CEO Sundar Pichai said this year's layoffs were aimed at “removing layers to simplify execution and drive velocity in some areas.” This comes as the company recalibrates priorities to fit investment into AI technology.
Amazon lays off about 5% of workforce at Buy with Prime unit
Launched in 2022, Buy with Prime gives retailers, who are not Amazon merchants, fulfillment and delivery services through its logistics network.
Tech layoffs continue after 'Year of Efficiency'
Analysts and industry experts believe the layoffs would be smaller and more targeted this year, with firms that are racing to catch up in the AI race more likely to make such moves to offset the billions of dollars they are spending on the tech.
Discord cuts 17% of workers in latest tech layoffs
Roughly 170 jobs will be affected by the layoffs, according to an internal memo sent by Jason Citron, Discord's founder and CEO.
Amazon's Audible is laying off 5% of its workforce, marking another round of job cuts in tech
In a memo sent to employees Thursday, Audible CEO Bob Carrigan said the company is in good shape, but faces an "increasingly challenging landscape."
Amazon to cut 'several hundred' Alexa jobs
The cuts affect "several hundred" employees working on Alexa, according to the email. A spokeswoman declined to elaborate on exactly how many were affected.
Amazon cuts games unit jobs in broader restructuring
Amazon last week also began cutting jobs in its streaming music and podcast division, people familiar with the matter said. It also cut a very small number of jobs in its human resources unit known as People Experience and Technology, or PXT, the sources added.
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