Elon Musk made his debut public appearance with Donald Trump at the White House to defend the swift and extensive cuts he's pushing across the federal government. Watch this report for more details!

Elon Musk appears in the White House, backs big cost cut plans

Elon Musk defends big cost cutting plans

Volkswagen plans to cut costs to address long-standing structural issues. CEO Oliver Blume said weak market demand in Europe and lower earnings from China highlight these problems, according to a detailed report by Reuters.

Volkswagen may close three factories in Germany, lay off thousands of employees, and reduce operations in remaining plants. It has set aside approximately 900 million euros to implement these changes the report detailed further. 

According to the report, Volkswagen's planned cost-cutting programme was unavoidable to remedy "decades of structural problems" at the German carmaker, CEO Oliver Blume said in an interview published on November 3.

"The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at VW," Blume told Sunday paper Bild am Sonntag.

Brief facts about Volkswagen<o:p></o:p>

Volkswagen is a German automobile manufacturer based in Wolfsburg, Lower Saxony, Germany. Established in 1937 by the German Labour Front under the Nazi Party, it was revitalized into the global brand it is today after World War II by British Army officer Ivan Hirst.

The company is well known for its iconic Beetle and serves as the flagship marque of the Volkswagen Group, which became the world's largest automotive manufacturer by global sales in 2016 and 2017.<o:p></o:p>

The group's largest market is China (including Hong Kong and Macau), which accounts for 40 per cent of its sales and profits. The name "Volkswagen" derives from the German words Volk and Wagen, meaning "people's car."

Views of the head of Volkswagen’s work council<o:p></o:p>

The head of Volkswagen's powerful works council said last Monday that the carmaker plans to shut at least three factories in Germany lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul.

The carmaker has not confirmed those plans but on Wednesday it instructed its workers to take a 10 per cent pay cut, arguing it was the only way that Europe's biggest carmaker could save jobs and remain competitive.

Blume said the cost of operating in Germany was a major drag on Volkswagen's competitiveness, telling Bild am Sonntag that "our costs in Germany must be massively reduced."

There was no flexibility on the goals for cost-cutting, only on how they are to be achieved, he said. The carmaker has set aside around 900 million euros ($975.06 million) in its annual report for executing the measures, according to the paper. ($1 = 0.9230 euros)

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Volkswagen plans to cut costs to address long-standing structural issues. CEO Oliver Blume said weak market demand in Europe and lower earnings from China highlight these problems, according to a detailed report by Reuters.

Volkswagen plans to cut costs to address long-standing structural issues. CEO Oliver Blume said weak market demand in Europe and lower earnings from China highlight these problems, according to a detailed report by Reuters. Volkswagen may close three factories in Germany, lay off thousands of employees, and reduce operations in remaining plants. It has set aside approximately 900 million euros to implement these changes the report detailed further. According to the report, Volkswagen's planned cost-cutting programme was unavoidable to remedy "decades of structural problems" at the German carmaker, CEO Oliver Blume said in an interview published on November 3. "The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at VW," Blume told Sunday paper Bild am Sonntag. Brief facts about Volkswagen Volkswagen is a German automobile manufacturer based in Wolfsburg, Lower Saxony, Germany. Established in 1937 by the German Labour Front under the Nazi Party, it was revitalized into the global brand it is today after World War II by British Army officer Ivan Hirst. The company is well known for its iconic Beetle and serves as the flagship marque of the Volkswagen Group, which became the world's largest automotive manufacturer by global sales in 2016 and 2017. The group's largest market is China (including Hong Kong and Macau), which accounts for 40 per cent of its sales and profits. The name "Volkswagen" derives from the German words Volk and Wagen, meaning "people's car." Views of the head of Volkswagen’s work council The head of Volkswagen's powerful works council said last Monday that the carmaker plans to shut at least three factories in Germany lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul. The carmaker has not confirmed those plans but on Wednesday it instructed its workers to take a 10 per cent pay cut, arguing it was the only way that Europe's biggest carmaker could save jobs and remain competitive. Blume said the cost of operating in Germany was a major drag on Volkswagen's competitiveness, telling Bild am Sonntag that "our costs in Germany must be massively reduced." There was no flexibility on the goals for cost-cutting, only on how they are to be achieved, he said. The carmaker has set aside around 900 million euros ($975.06 million) in its annual report for executing the measures, according to the paper. ($1 = 0.9230 euros)

Cost cutting necessary after 'decades of structural problems: Volkswagen CEO

Walgreens Boots Alliance has announced a significant restructuring plan, revealing its intention to close 1,200 retail locations over the next three years. This decision comes as the company grapples with ongoing financial difficulties, reporting an operating loss of $978 million from June to August 2024, a stark increase from the $450 million loss during the same period last year as detailed in a report by CNBC.&nbsp;

The closures will affect approximately 14 per cent of Walgreens' total outlets in the United States, which currently number over 8,000. In the upcoming fiscal year 2025, around 500 of these stores are expected to shut down.

During a recent earnings call, CEO Tim Wentworth stated that while closing locations is never an easy decision, it is necessary for the long-term health of the company. "We must enhance our ability to react to a shifting environment," he noted.<o:p></o:p>

The strategic closures are part of a broader effort to create a “healthier store base.” Wentworth emphasised that most employees affected by the closures will be redeployed to other locations. The company plans to focus investments on its remaining stores, aiming to adapt more effectively to evolving consumer habits and purchasing trends.<o:p></o:p>

Walgreens has faced mounting pressure in recent years as it attempts to transition into a healthcare destination amid fierce competition from rivals such as CVS Health and Amazon. The company has already implemented extensive cost-cutting measures, exceeding its target of reducing $1 billion in expenses during the last fiscal year.

However, analysts caution that these store closures may only be the initial steps in what could be a lengthy and challenging recovery process.<o:p></o:p>

In addition to the store closures, Walgreens has been reevaluating its investments in VillageMD, a primary care provider it had previously invested billions in. Earlier this year, the company disclosed an impairment charge related to VillageMD and announced plans to close 160 clinics.

This shift indicates a potential strategic pivot as Walgreens seeks to refocus on its core competencies as a retail pharmacy-led organisation.<o:p></o:p>

Despite these challenges, Walgreens' stock experienced a notable surge of 12.8 per cent following the earnings report—its largest single-day increase since 2008. The positive market reaction suggests that investors are cautiously optimistic about the company's new strategies aimed at revitalising its financial performance.<o:p></o:p>

As Walgreens navigates these turbulent waters, it remains committed to enhancing its service offerings while streamlining operations. The coming months will be critical as the company works to implement these changes and adapt to an increasingly competitive landscape in the retail pharmacy sector.<o:p></o:p>

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Walgreens Boots Alliance has announced a significant restructuring plan, revealing its intention to close 1,200 retail locations over the next three years. This decision comes as the company grapples with ongoing financial difficulties, reporting an operating loss of $978 million from June to August 2024, a stark increase from the $450 million loss during the same period last year as detailed in a report by CNBC.

Walgreens Boots Alliance has announced a significant restructuring plan, revealing its intention to close 1,200 retail locations over the next three years. This decision comes as the company grapples with ongoing financial difficulties, reporting an operating loss of $978 million from June to August 2024, a stark increase from the $450 million loss during the same period last year as detailed in a report by CNBC. The closures will affect approximately 14 per cent of Walgreens' total outlets in the United States, which currently number over 8,000. In the upcoming fiscal year 2025, around 500 of these stores are expected to shut down. During a recent earnings call, CEO Tim Wentworth stated that while closing locations is never an easy decision, it is necessary for the long-term health of the company. "We must enhance our ability to react to a shifting environment," he noted. The strategic closures are part of a broader effort to create a “healthier store base.” Wentworth emphasised that most employees affected by the closures will be redeployed to other locations. The company plans to focus investments on its remaining stores, aiming to adapt more effectively to evolving consumer habits and purchasing trends. Walgreens has faced mounting pressure in recent years as it attempts to transition into a healthcare destination amid fierce competition from rivals such as CVS Health and Amazon. The company has already implemented extensive cost-cutting measures, exceeding its target of reducing $1 billion in expenses during the last fiscal year. However, analysts caution that these store closures may only be the initial steps in what could be a lengthy and challenging recovery process. In addition to the store closures, Walgreens has been reevaluating its investments in VillageMD, a primary care provider it had previously invested billions in. Earlier this year, the company disclosed an impairment charge related to VillageMD and announced plans to close 160 clinics. This shift indicates a potential strategic pivot as Walgreens seeks to refocus on its core competencies as a retail pharmacy-led organisation. Despite these challenges, Walgreens' stock experienced a notable surge of 12.8 per cent following the earnings report—its largest single-day increase since 2008. The positive market reaction suggests that investors are cautiously optimistic about the company's new strategies aimed at revitalising its financial performance. As Walgreens navigates these turbulent waters, it remains committed to enhancing its service offerings while streamlining operations. The coming months will be critical as the company works to implement these changes and adapt to an increasingly competitive landscape in the retail pharmacy sector.

Walgreens to close 1,200 stores amid ongoing financial challenges

Airbus has initiated a stringent cost-cutting program dubbed "lead!" aimed at stabilizing its aircraft production and financial performance amidst challenges in the aviation sector. Recently forced to revise its jet production targets, airbus now faces significant supply chain pressures and internal productivity issues.

Airbus targets efficiency amid supply pressures

UK's British Telecom on Thursday announced a 'drastic' job cut that will result in the lay-off of 50,000 staffers by 2030. This cut will account for 42 per cent of BT's workforce, which currently employs&nbsp;around 130,000 staff, including contractors, as per AFP news agency. The move is taken as a cost-cutting measure amid increased costs and slim margins.&nbsp;

AFP quoting Hargreaves Lansdown analyst Matt Britzman said,&nbsp;"Headlines will no doubt focus on the job cuts." 
 
"It's drastic, but it's not overly surprising given the mounting costs and slim margins in the wider business,"&nbsp;Britzman added.&nbsp;

Also Read | <a href="https://www.wionews.com/world/russia-arrests-three-hypersonic-missile-scientists-on-charges-of-very-serious-treason-593499">Russia arrests three hypersonic missile scientists on charges of 'very serious treason'</a>

This comes after UK mobile phone giant Vodafone announced to cut 11,000 jobs, one-tenth of its workforce, over three years. After the jobs cuts, the workforce will&nbsp;come down in between 75,000 and 90,000 over the next five to seven years, BT said in a statement.

A number of tech companies,&nbsp;including giants such as&nbsp;Facebook parent Meta, Google, and&nbsp;others have laid off a significant number of their employees this year. One of the major reasons why companies are laying off their employees is inflation which has taken the world economy down.&nbsp;

Also Read | <a href="https://www.wionews.com/south-asia/overseas-travel-ban-on-ex-sri-lankan-prime-minister-mahinda-rajapaksa-lifted-593509">Overseas travel ban on ex-Sri Lankan prime minister Mahinda Rajapaksa lifted</a>

"By the end of the 2020s, BT Group will rely on a much smaller workforce and a significantly reduced cost base," said chief executive Philip Jansen. In the statement, he added, that the firm is "navigating an extraordinary macro-economic backdrop."&nbsp;

On the contrary to the grim side, BT said that once the telecom's full fibre broadband and 5G network are launched the firm would not need staff then to be able to maintain it.&nbsp;

The slimmed-down group "will be a leaner business with a brighter future" and will "digitise the way we work and simplify our structure".

<h2>BT's revenue dipped&nbsp;&nbsp;</h2>

BT on Thursday also announced that the firm's net profit soared 50 per cent to £1.9 billion ($2.4 billion) in its fiscal year to March. However, performance-wise the company is not keeping up on its game. The performance was skewed by a one-off tax credit.

Watch | US President Joe Biden to visit Japan's Hiroshima for G7 summit

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Meanwhile, pre-tax profit sank 12 per cent to £1.7 billion from a year earlier and revenue dipped one per cent to £20.7 billion. Following the news of job cuts, investors went jittery.&nbsp;BT's share price dipped almost nine per cent to 134.80 pence in morning deals on the rising London stock market.

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UK's British Telecom on Thursday announced a 'drastic' job cut that will result in the lay-off of 50,000 staffers by 2030. This cut will account for 42 per cent of BT's workforce, which currently employs around 130,000 staff, including contractors, as per AFP news agency.

UK's British Telecom on Thursday announced a 'drastic' job cut that will result in the lay-off of 50,000 staffers by 2030. This cut will account for 42 per cent of BT's workforce, which currently employs around 130,000 staff, including contractors, as per AFP news agency. The move is taken as a cost-cutting measure amid increased costs and slim margins. AFP quoting Hargreaves Lansdown analyst Matt Britzman said, "Headlines will no doubt focus on the job cuts." "It's drastic, but it's not overly surprising given the mounting costs and slim margins in the wider business," Britzman added. Also Read | Russia arrests three hypersonic missile scientists on charges of 'very serious treason' This comes after UK mobile phone giant Vodafone announced to cut 11,000 jobs, one-tenth of its workforce, over three years. After the jobs cuts, the workforce will come down in between 75,000 and 90,000 over the next five to seven years, BT said in a statement. A number of tech companies, including giants such as Facebook parent Meta, Google, and others have laid off a significant number of their employees this year. One of the major reasons why companies are laying off their employees is inflation which has taken the world economy down. Also Read | Overseas travel ban on ex-Sri Lankan prime minister Mahinda Rajapaksa lifted "By the end of the 2020s, BT Group will rely on a much smaller workforce and a significantly reduced cost base," said chief executive Philip Jansen. In the statement, he added, that the firm is "navigating an extraordinary macro-economic backdrop." On the contrary to the grim side, BT said that once the telecom's full fibre broadband and 5G network are launched the firm would not need staff then to be able to maintain it. The slimmed-down group "will be a leaner business with a brighter future" and will "digitise the way we work and simplify our structure". BT's revenue dipped BT on Thursday also announced that the firm's net profit soared 50 per cent to £1.9 billion ($2.4 billion) in its fiscal year to March. However, performance-wise the company is not keeping up on its game. The performance was skewed by a one-off tax credit. Watch | US President Joe Biden to visit Japan's Hiroshima for G7 summit × Meanwhile, pre-tax profit sank 12 per cent to £1.7 billion from a year earlier and revenue dipped one per cent to £20.7 billion. Following the news of job cuts, investors went jittery. BT's share price dipped almost nine per cent to 134.80 pence in morning deals on the rising London stock market. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

British Telecom to make ‘drastic’ job cuts, lay off 55,000 staffers by 2030 in cost-cutting measure

US taxi service Lyft will see more job cuts as part of a cost cutting measure. A Wall Street Journal report said that over 4,000 employees, or 30% of Lyft's workforce, are likely to lose their jobs.

Lyft opts for a second round of layoffs

Microsoft said it would cut 10,000 jobs by the end of third quarter of fiscal 2023. The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023.

Microsoft to cut 10,000 jobs by end of third quarter of 2023

Google-backed ShareChat is firing 20% of its workforce. The company says the move was aimed at cutting cost. Molly Gambhir brings you a report.

Gravitas: ShareChat fires 20% of its workforce

Amazon.com Inc is freezing its staffing levels&nbsp;in its advertising businesses to match its slowing sales and is expected to take a few drastic steps.&nbsp;

The company started imposing a freeze on corporate roles in the month of October and is currently in the process of reducing programme costs.&nbsp;

<a href="https://www.wionews.com/technology/amazon-shuts-online-store-fabriccom-in-cost-cutting-move-527244">Also read |&nbsp;Amazon shuts online store fabric.com in cost-cutting move</a>

This clearly showed that the from is trying to make the most of its sales during business holidays. the Chief Financial Officer last week stated that the company will continue to invest in its advertising businesses along with computing units, while the company's web services will try to cut costs.&nbsp;

A source told Bloomberg that the company will continue to hire new employees for its advertising businesses but won't introduce any new positions.&nbsp;

Defining it to be the slowest revenue growth ever during its holiday era, Amazon's shares are 13 per cent since October 27. Chief Executive Officer Andy Jesse has been busy slashing expenses in the sales that have hit pandemic highs.&nbsp;

<a href="https://www.wionews.com/world/us-amazon-workers-across-the-country-strike-amid-allegations-of-suppressing-unionisation-efforts-528688">Also read |&nbsp;Amazon workers in parts of US strike amid alleged crackdown on unionisation efforts</a>

The firm's advertising businesses generated $9.55 billion at the quarter end of September this year, implying to be a 25 per cent increase from the previous year.

One of the recent measures to cut its costs was when the retail giant Amazon announced the closure of Fabrics.com, which was selling fabrics for over 30 years. The company advised its users to purchase clothes from Amazon.&nbsp;

(With inputs from agencies)

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Amazon.com Inc is freezing its staffing levels in its advertising businesses to match its slowing sales and is expected to take a few drastic steps. The company started imposing a freeze on corporate roles in the month of October and is currently in the process of reducing programme costs.

Amazon.com Inc is freezing its staffing levels in its advertising businesses to match its slowing sales and is expected to take a few drastic steps. The company started imposing a freeze on corporate roles in the month of October and is currently in the process of reducing programme costs. Also read | Amazon shuts online store fabric.com in cost-cutting move This clearly showed that the from is trying to make the most of its sales during business holidays. the Chief Financial Officer last week stated that the company will continue to invest in its advertising businesses along with computing units, while the company's web services will try to cut costs. A source told Bloomberg that the company will continue to hire new employees for its advertising businesses but won't introduce any new positions. Defining it to be the slowest revenue growth ever during its holiday era, Amazon's shares are 13 per cent since October 27. Chief Executive Officer Andy Jesse has been busy slashing expenses in the sales that have hit pandemic highs. Also read | Amazon workers in parts of US strike amid alleged crackdown on unionisation efforts The firm's advertising businesses generated $9.55 billion at the quarter end of September this year, implying to be a 25 per cent increase from the previous year. One of the recent measures to cut its costs was when the retail giant Amazon announced the closure of Fabrics.com, which was selling fabrics for over 30 years. The company advised its users to purchase clothes from Amazon. (With inputs from agencies) WATCH WION LIVE HERE

Amazon halts staffing levels in its advertising business in cost-cutting move

The latest cost-cutting measure taken by the online retail giant Amazon is the closure of a company that has been selling fabrics for close to 30 years.

Fabric.com announced its decision to stop selling goods on its website and advised users to make purchases on Amazon in its place. The final day for clients to place orders on the fabric website is Thursday.

“As part of our regular business planning, we continually evaluate the progress and potential of our offerings and have made the decision to close Fabric.com,” <a href="https://www.wionews.com/world/amazon-to-face-uk-class-action-lawsuit-for-dominating-market-using-secretive-algorithm-527098">Amazon</a> spokesperson Betsy Harden said in a prepared statement.

It’s unclear how many employees will be impacted by the closure. Harden said Amazon will work with staff to help them “identify other opportunities” at the company, including at nearby warehouses. Employees who do not stay with Amazon will be given severance, she said.

Also read |<a href="https://www.wionews.com/world/amazon-workers-in-albany-reject-unionisation-labour-leader-calls-it-sham-election-526579">&nbsp;Amazon workers in Albany reject unionisation, labour leader calls it ‘sham election’</a>

Craft Industry Alliance was the first to break the news of the closure.

Georgia-based Phoenix Textiles Group, the predecessor to Fabric.com, was established in 1993. Before it started selling products directly to customers and launching its own website, it worked as a wholesale distributor of clothing materials for a number of years.

In 2008, <a href="https://www.wionews.com/world/amazons-leaked-documents-show-why-its-attrition-rate-is-so-high-526390">Amazon</a> bought the business. At the time, it was stated that doing so would enable Amazon to provide its consumers with additional sewing and craft supplies while also assisting the fabric site in growing its product variety.

(With inputs from agencies)

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The latest cost-cutting measure taken by the online retail giant Amazon is the closure of a company that has been selling fabrics for close to 30 years. Fabric.com announced its decision to stop selling goods on its website and advised users to make purchases on Amazon in its place.

The latest cost-cutting measure taken by the online retail giant Amazon is the closure of a company that has been selling fabrics for close to 30 years. Fabric.com announced its decision to stop selling goods on its website and advised users to make purchases on Amazon in its place. The final day for clients to place orders on the fabric website is Thursday. “As part of our regular business planning, we continually evaluate the progress and potential of our offerings and have made the decision to close Fabric.com,” Amazon spokesperson Betsy Harden said in a prepared statement. It’s unclear how many employees will be impacted by the closure. Harden said Amazon will work with staff to help them “identify other opportunities” at the company, including at nearby warehouses. Employees who do not stay with Amazon will be given severance, she said. Also read | Amazon workers in Albany reject unionisation, labour leader calls it ‘sham election’ Craft Industry Alliance was the first to break the news of the closure. Georgia-based Phoenix Textiles Group, the predecessor to Fabric.com, was established in 1993. Before it started selling products directly to customers and launching its own website, it worked as a wholesale distributor of clothing materials for a number of years. In 2008, Amazon bought the business. At the time, it was stated that doing so would enable Amazon to provide its consumers with additional sewing and craft supplies while also assisting the fabric site in growing its product variety. (With inputs from agencies) WATCH WION LIVE HERE:

Amazon shuts online store fabric.com in cost-cutting move

US tech-giant Meta has more than doubled its cost-cutting targets. Reportedly, the company is looking to trim its costs by at least 10% within the next few months. The reported figure represents a big jump from the earlier forecast of about 2% to 4% cost cuts that Meta announced in July.

World Business Watch | Report: Meta aims to cut costs by 10% within next few months

Ride-hailing giant Ola is reportedly laying off around 200 staff in another round, this time from its various software verticals of ANI technologies, which operates at Ola Cabs, as sales of its electric two-wheeler decrease.

As part of a bigger reorganisation effort towards its electric ambition, over 200 employees from Ola Electric's software verticals have been asked to leave, leaving its 2,000-strong engineer team with less than 10% of the total.&nbsp;

Multiple employees who were let off as part of the "restructuring exercise" worked on the Ola app, according to a Monday report by CNBC. Nearly 1,100 people worked for the company owned by Bhavish Aggarwal's primary ride-hailing division.

The company denied <a href="https://www.wionews.com/sports/devastated-that-my-time-at-chelsea-has-come-to-an-end-thomas-tuchel-reacts-after-being-sacked-515346">sacking</a> 500 employees, adding that it is “centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions,” said the company.&nbsp;

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“The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months,” the company mentioned.

More than 1,000 employees at the <a href="https://www.wionews.com/world/how-intelligent-is-central-intelligence-agency-cias-spotty-record-of-75-years-517112">company</a> were impacted by earlier restructuring initiatives that affected workers in the product, marketing, sales, supply, tech, business, and operations verticals.

However, sources claim that those layoffs only affected 500 workers rather than 1,000, and that they "were a result of restructuring in the Cars and Dash divisions."

(With inputs from agencies)

Ride-hailing giant Ola is reportedly laying off around 200 staff in another round, this time from its various software verticals of ANI technologies, which operates at Ola Cabs, as sales of its electric two-wheeler decrease.

Ride-hailing giant Ola is reportedly laying off around 200 staff in another round, this time from its various software verticals of ANI technologies, which operates at Ola Cabs, as sales of its electric two-wheeler decrease. As part of a bigger reorganisation effort towards its electric ambition, over 200 employees from Ola Electric's software verticals have been asked to leave, leaving its 2,000-strong engineer team with less than 10% of the total. Multiple employees who were let off as part of the "restructuring exercise" worked on the Ola app, according to a Monday report by CNBC. Nearly 1,100 people worked for the company owned by Bhavish Aggarwal's primary ride-hailing division. The company denied sacking 500 employees, adding that it is “centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions,” said the company. Also read | As recession fears mount, Wall Street tumbles to a two-month low “The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months,” the company mentioned. More than 1,000 employees at the company were impacted by earlier restructuring initiatives that affected workers in the product, marketing, sales, supply, tech, business, and operations verticals. However, sources claim that those layoffs only affected 500 workers rather than 1,000, and that they "were a result of restructuring in the Cars and Dash divisions." (With inputs from agencies)

Report: Ola lays off around 200 employees as part of ‘restructuring exercises’

Netflix has decided to lay off around 4% of the workforce. It lay off 300 employees amid a cost-cutting drive. The layoff has mostly affected the employees in the US.

Netflix lays off 300 employees amid a cost-cutting drive

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