Puma To Slash 900 Jobs In Bid To Revive Business
Puma to cut 900 global jobs after weak sales; a day earlier, Amazon reported plans to lay off up to 1,000 staff in India amid AI focus.
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The Good Glamm Group Lays Off 150 Employees In Restructuring Push For Profitability
- by BW Retail World Bureau
- April 19, 2024
The Good Glamm Group recently underwent significant organisational changes, including the optimization of its workforce through layoffs affecting 150 employees, constituting 15 per cent of its total staff. This move was explained as part of a broader restructuring effort aimed at streamlining operations and eliminating redundancies following the integration of various acquired companies over the […]
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Amazon Seller Services Receives Funding Of Rs 830 Cr In Indian Marketplace
- by BW Retail World Bureau
- February 12, 2024
Amazon Seller Services, which handles the Amazon marketplace in India, said its US parent invested Rs 830 crore in the firm. Amazon Seller Services said it allocated 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the financial injection. On 19 January, Amazon invested Rs 350 crore in Pay (India), the […]
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Swiggy To Reduce 6% Workforce
- by BW Retail World Bureau
- January 26, 2024
Indian food delivery startup Swiggy is set to lay off 6 per cent of its workforce as it seeks to reduce costs and increase profitability ahead of its initial public offer (IPO), the Economic Times reported on Thursday. The job cuts would impact about 350-400 employees across teams including technology, call centre, and corporate roles, […]
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Nikhil Kamath-backed Third Wave Coffee Fires 120 Employees: Report
- by BW Retail World Bureau
- December 15, 2023
Coffee chain Third Wave Coffee Roasters has reportedly laid off approximately 120 employees as part of a restructuring initiative, following its recent fundraise. According to media reports, mid- and senior-level personnel across various departments, including business development, design, sales, marketing, supply chain management, and strategy teams, have been affected. The restructuring involves retaining only two […]
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Hasbro Cuts 1,100 Jobs Amid Ongoing Toy Industry Slump
- by BW Retail World Bureau
- December 12, 2023
Toy manufacturer Hasbro on Monday said that it will be reducing its workforce by approximately 1,100 jobs, constituting 20 per cent of its employees, as the challenges in the toy industry persist through another holiday season. The company revealed the layoffs in a memo to employees, as reported by The Wall Street Journal. These job […]
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Starbucks Faces $11 Bn Loss Amid Sales Slump, Boycotts Over Geopolitical Concerns
- by BW Retail World Bureau
- December 7, 2023
Global political tensions are negatively affecting Seattle-based Starbucks Corporation as the company has lost approximately USD 11 billion in value, which accounts for 9.4 per cent of its total value. In just 19 days, since the 16 November Red Cup Day promotion, Starbucks shares have plunged 8.96 per cent, causing a loss of nearly USD […]
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Amazon Lays Off 180 Employees In Games Division
- by BW Retail World Bureau
- November 14, 2023
Amazon.com has initiated another round of layoffs, signaling a broader restructuring within the company. The online retail and digital streaming giant has cut approximately 180 jobs in its games division, marking the second wave of layoffs in less than a week. The decision was communicated through an internal email from Christoph Hartmann, the vice president […]
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Xiaomi India Restructures Operations, Plans To Reduce Workforce
- by BW Retail World Bureau
- June 30, 2023
Xiaomi India, the Chinese smartphone brand is reducing its workforce to less than 1,000 employees due to a reorganisation, a decline in market share, and increased scrutiny from government agencies, according to current and former employees of the company. At the beginning of 2023, Xiaomi India had employed around 1,400 to 1,500 people, but in […]
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Alibaba Cloud Unit To Downsize, Layoffs To Impact 7% Staff
- by BW Retail World Bureau
- May 24, 2023
Alibaba Group Holding Ltd’s, cloud unit has started a round of downsizing that will impact 7 per cent of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday. The cloud unit has started to offer severance to employees, the source said. Alibaba did […]