LAY OFF

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• NZ's Sky Network Television proposes restructuring, layoffs

  The media firm said it is also proposing to adopt a hybrid model for its customer care segment with one-third of its team based in New Zealand team and two-thirds in the Philippines.

  

• Techies live in fear of losing job any time

  It isn't just those who've been laid off recently who are feeling the jitters, other Indian techies still with jobs in the US are equally worried. When TOI spoke to some of them, they said that the sword of sackings is continuously hanging over their head, giving them sleepless nights.

  

• Elon Musk cuts Twitter's employee perks

  "Allowances will be reevaluated over time and may be added back when the company's financial situation improves," it reads.

  

• Got laid off? Don't be scared, remember these 5 tips to come back stronger

  Employees must remember that being laid off is not necessarily a reflection of their performance. ET Wealth spoke to a few experts and here are some tips to help you if you have been recently laid off.

  

• Mercedes-Benz to lay off 3,600 workers in Brazil

  Mercedes-Benz will lay off 2,200 workers from the Sao Bernardo plant, while an additional 1,400 employees will not have their temporary contracts renewed as of December.

  

• Powell: Fed's inflation fight could bring 'pain,' job losses

  Investors had been hoping for a signal from Powell that the Fed might soon moderate its rate increases later this year if inflation were to show further signs of easing. But the Fed chair indicated that that time may not be near, and stocks tumbled in response.

  

• Tech layoffs hit California revenue with 12% July shortfall

  Cash totaled $9.2 billion in the first month of the fiscal year, almost $1.3 billion below the state’s budget forecast, according to a bulletin from the California Department of Finance. The amount of personal income tax withheld from paychecks fell short of expectations -- by 10% in July and 5.8% in June.

  

• 'Crying CEO’ Braden Wallake says he loves his employees — even those he laid off

  Braden Wallake, the chief executive officer of a Columbus, Ohio-based marketing agency called HyperSocial, wrote a guilt-filled post Tuesday about laying off employees that concluded with a teary-eyed selfie. After the post went viral, he declared himself “the crying CEO.” In it, he said he loves all of his employees and said it was the “hardest thing” he has ever had to do.

  

• Ford plans to cut up to 8,000 jobs

  The majority of the job cuts are expected to be among Ford's salaried ranks in the United States, where the company employs about 31,000 salaried workers, the report said.

  

• Udaan fires 180-200 staff, 5% of its workforce, to cut costs

  The layoffs come on the back of chief executive Vaibhav Gupta telling his staff in an internal note that the company had hit a positive contribution margin in the last quarter of fiscal 2021 and was on track to become unit economics positive in the ongoing quarter ending June 30. ET reported about the development on June 15.

  

• German groceries app Gorillas poised for job cuts in Spain

  Last month, Gorillas said it would lay off 300 people, cutting its administrative staff in half, as it seeks to become profitable after growing rapidly during the COVID-19 pandemic.