Layoff at Media.net

Heard it's laying off 30% of its tech workforce.

Got to know through my network that Brainly india has asked the entire team from their MD to all junior folks to go. Reason - sudden change in strategy.. they didn’t let the product even launch.. the team was in full swing prepping.. impacted folks 30+ or around that number.. within 6 months of hiring everyone.. while in the interviews they promised 5 years runway.. long term strategy for india.. ceo didn’t even apologise.. they come hire Indians and let go at the drop of a hat.. the employment contract said that either party have to give 3 months notice to resign.. so that’s what they did they are giving 3 months pay not in one go but month on month and after that nothing. No severance pay, no bonus paid to eligible employees, no help in finding jobs , no mental health support, medical finishes in 3 months.. in this time when hiring is on global freeze they have treated Indians like puppets come hire and fire when you want, they have money in bank account a runway for 18-24 months.. still they couldn’t hold on to india team.. heartless way of dealing with junior folks how will we find jobs

media.net (DirectI group) has postponed the joining of product managers hired from campus placements of top BSchools of India, IIM ABCL ISB XLRI etc. No specific timeline has been provided, HR said “joining is postponed”, that’s it. Insider news is that layoffs are happening at media.net and employees haven’t been given any appraisals this year. They are also forcing work from office on their employees so that they resign by themselves. also, I read a news article related to Ad Fraud done by media.net on Forbes Website. https://www.thedrum.com/news/2024/04/04/forbes-accused-selling-mfa-media-brands-under-guise-legitimate-ad-space Media net is in a very bad shape rn. RIP 🪦

GM has laid off a few senior management people today. Both in Online & Offline Business. Layoffs for teams below them coming soon, maybe after merger of teams

Few folks from USA and London team have been fired. If things continue the way they’re then many more could be fired. Major advertising revenue comes from North America, and a recession there means huge advertising spend cuts by big accounts, which directly impacts many adtech companies. Would avoid adtech sector for next 12 mos.

Leadership meeting at ET says they will cut 50% team in march. Where can talented journos go?

I worked at a firm for 11 months and got affected by cost Cutting looking for a full time or internship or remote role in any software development domain. Thanks in advance 😃

Yahoo to layoff 20% of its workforce.

Byjus has done another round of layoffs today, even VPs and top level managers were affected. Investors are losing faith in the organization. Looks like the fall of the company has started.

Reason - the team wants to accelerate timeline to profitability To those affected really sorry this community is here for you!