Nokia 14K layoff

14k jobs laid off from Nokia

According to the news article they have about 86,000 employees

One of my batchmates got laid off . Wasn’t expecting this. I thought they were doing well

https://www.moneycontrol.com/news/business/startup/info-edge-ventures-backed-1k-kirana-lays-off-40-workforce-to-restructure-business-10359421.html

People from mid and top management (with fat paycheques) across org laid off on friday & today. About 100-120 people affected. Source: Heard from a friend. + mentioned in the Cross org emails by mukesh

- BeepKart, a Bengaluru-based used two-wheeler retailer, has laid off over 100 employees in recent months, sources told Entrackr. - The layoffs, affecting more than 20% of the workforce, occurred in phases starting after the April fundraise, impacting roles across marketing, tech, product, and operations. - A source indicated that the layoffs, which included senior roles, were unexpected and likely aimed at focusing on profitability. - Founded in 2020, BeepKart operates in Bengaluru and Chennai, and has raised around $18.5 million to date, with a current valuation of approximately $44 million. - Despite the layoffs, BeepKart reported Rs 21.86 crore revenue for FY23, though it also posted losses of Rs 27.88 crore for the same period. Source: [Entrackr](https://entrackr.com/2024/08/exclusive-beepkart-lays-off-more-than-100-employees/)

https://www.moneycontrol.com/news/business/cognizant-says-revenue-will-decline-in-2023-to-lay-off-3500-employees-10523261.html/amp?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people. Like whats happening man!!! Is the company dumb or what?

Headcount in Indian IT companies continue to decline.