Tuesday, November 5

Tag: Employee Layoff

Elon Musk’s SpaceX plans to lay off 10% of its over 6,000 employees
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Elon Musk’s SpaceX plans to lay off 10% of its over 6,000 employees

SpaceX plans to lay off 10 per cent of its more than 6,000 employees, a source familiar with the decision said on Friday. "To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company," Elon Musk, said. "Either of these developments, even when attempted separately, have bankrupted other organizations," it added. "This means we must part ways with some talented and hardworking members of our team." It added that the trim down was "only due to the extraordinarily difficult challenges ahead."Citing an email sent to employees on Friday, the Los Angeles Times said the company was offering those affected a minimum of eight weeks' pay and other benefits, including career coaching and...
Hike Lays off 25% Workforce, Shuts down Bengaluru Operation
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Hike Lays off 25% Workforce, Shuts down Bengaluru Operation

While hiring season was just picking up, startups now seem to counter the trend. Messaging platform Hike has announced employee layoffs for up to 20-25% as it is shutting down its Bengaluru operations. A Hike representative confirmed the news stating, We made a few acquisitions last year that skyrocketed the team size, mostly in Bengaluru. We’re integrating and streamlining these teams. Just business as usual. Kavin Bharti Mittal, company's co-founder informed that it had become increasingly difficult for the company to manage both the locations. As a result, the platform is finally moving its base to Delhi. The report has speculated that most of the reductions are from its last two acquisitions — Creo and InstaLively. Moreover, the layoffs are expected in multiple functions such a...