The wave of layoffs has swept through major tech companies including Mozilla, Sonos, Boeing, Stellantis, Samsung, Brave and GoPro. In India, companies like Swiggy, Ola, Unacademy, Cirium, Freshworks and Reliance have also trimmed their workforce through the year.
Cloud storage company Dropbox is cutting about 20% of its workforce, while social media platform TikTok plans to let go of approximately 500 employees, primarily in content moderation roles that will be handled by artificial intelligence.
"This market is moving fast and investors are pouring hundreds of millions of dollars into this space. This both validates the opportunity we've been pursuing and underscores the need for even more urgency, even more aggressive investment, and decisive action," Dropbox CEO Drew Houston said in a note to employees. The company faces intense competition in personal and enterprise business from technology giants Google, Microsoft and Box.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
TRUMP WARNS OF STEEP TARIFFS ON MEXICO, CANADA, CHINA FROM DAY 1
US President-elect Donald Trump threatened to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs.
Protect all minorities, India tells B'desh after arrest of Hindu priest
India on Tuesday expressed \"deep concern\" over the arrest of prominent Hindu leader Chinmoy Krishna Das in Bangladesh, as protests erupted in multiple cities following his detention on sedition charges and one of the lawyers representing him was killed in clashes.
ISRAEL, LEBANON AGREE CEASEFIRE TO STOP CONFLICT WITH HEZBOLLAH
Israel has agreed a ceasefire with Lebanon, Israel's Channel 12 television reported on Tuesday, clearing the way for an end to a conflict between Israel and Lebanon's Hezbollah that has killed thousands of people since it was ignited by the Gaza war last year.
Not just a lawyer’s document, it is a spirit: Modi on Constitution
Prime Minister Narendra Modi on Tuesday emphasised that the spirit of \"Nation First\" will ensure the enduring relevance of India's Constitution for centuries, as he highlighted the extension of the Constitution to Jammu & Kashmir - where Constitution Day was celebrated this year for the first time-and asserted India's firm resolve to respond decisively to threats from terror organisations.
House hails 'living document' to mark 75 yrs of Constitution
President Droupadi Murmu on Tuesday described the Constitution as a \"living and progressive document\" that forms the bedrock of India's democratic republic and emphasised that its true strength lies in the coordinated efforts of all constitutional bodies to improve citizens' lives.
Sambhal police say bullets are not theirs
AN UNEASY CALM PREVAILED IN THE AREA AND THE ADMINISTRATION EXTENDED THE INTERNET BAN
EVMs fine if you win, tainted if you lose: SC
What the top court said
Making A Miracle: How Team India Rewrote The Script In The First Test
His team had just been bowled out for 150 on Day 1 of the first Test of the 2025 Border-Gavaskar Trophy but, in the dressing room, skipper Jasprit Bumrah was calmness personified.
NBCC India plans to acquire sick PSUs, redevelop land banks
NBCC India Ltd has set its sights on acquiring defunct public sector undertakings (PSUs) to redevelop and monetise their land, according to two people with direct knowledge of the matter, as the state-run construction company seeks to leverage success in developing land for some government-owned companies.
T’gana rejects Adani’s 2100-cr donation
Telangana chief minister A Revanth Reddy on Monday announced that the state government will not accept the 100 crore CSR donation pledged by the Adani Group for the Young India Skills University being set up in Ranga Reddy district on the outskirts of Hyderabad, in the wake of \"present circumstances and arising controversies\".
