… as profit drops by 69%. And many others

Nokia 14K layoff

Software Engineer

Nokia 14K layoff- Grapevine

Nokia layoff

Lawyer

https://www.reuters.com/business/media-telecom/nokia-cuts-2000-jobs-china-350-europe-part-cost-cuts-sources-say-2024-10-17/

Nokia to layoff 2000

Software Developer

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

When did Nokia get back? I thought they went bankrupt

Product Designer

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

Layoffs at pinelabs

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

1K Kirana 40% layoff 600 ppl

Toshiba lays off 5000 (7%)

Growth Manager

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

Layoffs at cult.fit & cultsports

Welcome to News Discussion's Private Community

- 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/)

BeepKart Lays Off Over 100 Employees Post-Fundraise

Journalist

Have you heard the news that Samsung India is going to layoff more than 200 employees? Is Samsung under loss because they clearly do not look like that? I am very confused by this news. Please share some insights.

Samsung India Layoff

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

Cognizant to layoff 3500 Employees

Founder

Welcome to Software Engineers's Private Community

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?

LinkedIn Layoffs India

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

- BeepKart, a used two-wheeler marketplace, has **laid off around 130 employees** in three rounds over the past five months.
- The Bengaluru-based startup also **closed six of its 11 stores** in Bengaluru and Chennai as part of a cost-cutting exercise.
- The layoffs and closures come amid a **funding crunch** and unsuccessful expansion efforts.
- BeepKart's attempts to increase margins by **raising prices** led to a loss of customers to competitors.
- The startup reported a **net loss of INR 28 Cr** on an operating revenue of INR 22 Cr in FY23.

Source: [Inc42](https://inc42.com/buzz/exclusive-beepkart-fires-130-employees-in-5-months-to-cut-costs-halves-store-count/)

BeepKart Lays Off 130 Employees, Shuts Half of Stores Amid Funding Crunch

Headcount in Indian IT companies continue to decline.

Wipro to layoff hundreds of mid-level employees to improve profit margins.

Solution Architect

Welcome to Office Gossip's Private Community

Hearing another mass layoffs on the cards at a fintech startup that is into lending, insurance and mutual funds in Bengaluru, which had laid off about 20% in June last year !

Another Mass Layoff on the cards...

Systems Architect

Welcome to Indian Startups's Private Community

Some companies I heard of,
Airmeet
Inmobi
Simplilearn
Spotdraft

Which companies are laying off people now?

There are so many that are also doing silent layoffs right now

Product Manager

Consultant

India CEO Arjun Mohan has kicked off a massive restructuring exercise that may lead to 4,000-5,000 job cuts

BYJU'S LAYOFFS : 4,000-5,000 employees to be let go

Program Manager

https://zeenews.india.com/companies/over-50000-employees-laid-off-by-153-companies-globally-in-2023-so-far-as-google-joined-the-league-2563912.html

Alphabet and Google CEO Sundar Pichai announced in an email sent to affected employees to lay off 12,000 employees globally. It joins the league of other companies like Microsoft, Salesforce, Vimeo to fire their employees in 2023 till now. 

Over 50,000 employees laid off by 153 companies globally in 2023 so far as Google joined the league

Massive layoffs

Customer Experience

Hi Guys,
The management at Paytm has informed around 30-40 % will be laid off in May end.

I will be affected by Paytm layoffs as list is being prepared.
Any referrals/leads for backend software Engineer(tech stack Scala,Kafka,SQL,AWS ) would be helpful as I had joined Paytm as fresher last year.Total experience will be 1 year in June.

Laidoff by paytm

Navi Technology founded by Sachin Bansal is doing mass layoffs which started on Tuesday (11 July)

Mass Layoffs at Navi Technology

Damn no wonder they are firing 
 I know some average freshers who joined at 21 base last year  
 Overpaying for average talent always results in firing in startups,is what I have observed

Nokia 14K layoff

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