The National Geographic magazine has laid off its last remaining staff writers. According to a report by The Washington Post on Thursday (June 29), the cutback involves some 19 editorial staffers in all, who had been notified in April that these terminations were coming.

The National Geographic magazine has laid off its last remaining staff writers. According to a report by The Washington Post on Thursday (June 29), the cutback involves some 19 editorial staffers in all, who had been notified in April that these terminations were coming. Article assignments would now be contracted out to freelancers or pieced together by editors. The report added that the layoffs also eliminated the magazine’s audio department. Tuesday's layoffs were the second over the last nine months, and the fourth since a series of ownership changes started in 2015. Staffers confirm exiting magazine on Twitter Several departing staffers confirmed the news of exiting National Geographic on Twitter. "My new National Geographic just arrived, which includes my latest feature—my 16th, and my last as a senior writer. NatGeo is laying off all of its staff writers. I’ve been so lucky. I got to work w/incredible journalists and tell important, global stories. It’s been an honor," writer Craig Welch tweeted. Another writer at the magazine Doug Main, meanwhile, tweeted, "National Geographic is laying off its staff writers, including me." My new National Geographic just arrived, which includes my latest feature—my 16th, and my last as a senior writer. NatGeo is laying off all of its staff writers. I’ve been so lucky. I got to work w/incredible journalists and tell important, global stories. It’s been an honor. pic.twitter.com/VOt6KydD5Z — Craig Welch (@CraigAWelch) June 28, 2023 × The staffers laid off also include Debra Adams Simmons, who was in September 2022 promoted to vice president of diversity, equity and inclusion at National Geographic Media. The layoffs come a month after it was reported that National Geographic will no longer be sold on newsstands in the United States starting next year. National Geographic among most widely read magazines in US National Geographic remains among the most widely read magazines in the United States. The Washington Post report said that at its peak in the 1980s, the magazine reached 12 million subscribers in the US and millions more overseas. Speaking to the publication via email, National Geographic spokesperson Chris Albert said that staffing changes would not affect the company's plans to continue publishing a monthly magazine “but rather give us more flexibility to tell different stories and meet our audiences where they are across our many platforms.” 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.

National Geographic magazine lays off last remaining staff writers, to stop newsstands' sale from 2024

Top US financial services&nbsp;firm&nbsp;Morgan Stanley is all set to cut around 3,000 positions by the end of June, reports US TV network CNBC. This will be the second round of layoffs in the US-based multinational company in the last six months.&nbsp;

According to Bloomberg, the layoffs are expected to have the greatest impact on banking and trading staff. The layoffs will affect around 5% of the bank's employees. But financial advisors and support staff&nbsp;will be exempt from the reduction, say reports.&nbsp;

Wall Street's biggest firms are shedding jobs as the industry grapples with a slump in public offerings&nbsp;and mergers this year. As per reports, IPO volumes are down 74% compared to last year, while mergers and debt issuance have remained muted.

From boom to bust

This downturn is a significant change from last year's boom in deals ignited by the pandemic, followed by a bust that began after the Federal Reserve started raising rates to cool an overheating economy.

Wall Street's woes have been exacerbated by rising costs and falling revenue, with Morgan Stanley facing criticism from analysts for posting higher costs in the first quarter as revenue dwindled. Investors are wary of the reduced profit margins due to expenses in the firm's investment bank and wealth management division.

Morgan Stanley's moves are not isolated. The industry began to cut jobs&nbsp;from September 2022, when Goldman Sachs started culling low-performing staff. After other big Wall Street businesses followed suit, Goldman had to resort to yet another, more extensive round of layoffs in January.

In recent weeks, large banks such as Citigroup and Bank of America have also slashed a few hundred positions each, claiming that this will position them well when a resurgence in deals occurs.

Ultimately, Wall Street's future remains uncertain, but the current slump is a reminder that the financial industry is subject to the same boom-and-bust cycles as any other. As firms like Morgan Stanley&nbsp;cut jobs, employees across the 'street' are curious about the industry's future.

(With agency inputs)&nbsp;

Top US financial services firm Morgan Stanley is all set to cut around 3,000 positions by the end of June, reports US TV network CNBC. This will be the second round of layoffs in the US-based multinational company in the last six months.

Top US financial services firm Morgan Stanley is all set to cut around 3,000 positions by the end of June, reports US TV network CNBC. This will be the second round of layoffs in the US-based multinational company in the last six months. According to Bloomberg, the layoffs are expected to have the greatest impact on banking and trading staff. The layoffs will affect around 5% of the bank's employees. But financial advisors and support staff will be exempt from the reduction, say reports. Wall Street's biggest firms are shedding jobs as the industry grapples with a slump in public offerings and mergers this year. As per reports, IPO volumes are down 74% compared to last year, while mergers and debt issuance have remained muted. From boom to bust This downturn is a significant change from last year's boom in deals ignited by the pandemic, followed by a bust that began after the Federal Reserve started raising rates to cool an overheating economy. Wall Street's woes have been exacerbated by rising costs and falling revenue, with Morgan Stanley facing criticism from analysts for posting higher costs in the first quarter as revenue dwindled. Investors are wary of the reduced profit margins due to expenses in the firm's investment bank and wealth management division. Morgan Stanley's moves are not isolated. The industry began to cut jobs from September 2022, when Goldman Sachs started culling low-performing staff. After other big Wall Street businesses followed suit, Goldman had to resort to yet another, more extensive round of layoffs in January. In recent weeks, large banks such as Citigroup and Bank of America have also slashed a few hundred positions each, claiming that this will position them well when a resurgence in deals occurs. Ultimately, Wall Street's future remains uncertain, but the current slump is a reminder that the financial industry is subject to the same boom-and-bust cycles as any other. As firms like Morgan Stanley cut jobs, employees across the 'street' are curious about the industry's future. (With agency inputs)

Layoffs loom over Wall Street as Morgan Stanley plans to cut 3,000 jobs

The recent layoffs at big tech firms show a clear target: the middle manager, according to a Bloomberg report.

As big tech firms like Meta, Google, Microsoft and other Silicon Valley giants took to layoffs to lower costs, a report revealed a startling stat - the 'Middle Managers' are the target.

On Wednesday, Meta's Chief Executive Officer Mark Zuckerberg said the company would be firing some layers of management during a tough year, which he named a "year of efficiency".

<a href="https://www.wionews.com/business-economy/tech-layoffs-2023-dell-to-lay-off-6500-employees-cut-5-of-its-global-workforce-amid-uncertain-future-559204">Also read |&nbsp;Tech layoffs 2023: Dell to lay off 6,500 employees, cut 5% of its global workforce amid 'uncertain future'</a>

That comes after the tech giant cut 11,000 jobs last year, or about 13 per cent&nbsp;of its workforce and called those layoffs "just the beginning".

In addition to layoffs, Intel cut its managers' and executives' pay in anticipation of a sharp fall in computer demand.

Beyond tech firms, similar trends were seen in other large companies on job cuts.

A Slack Technologies survey showed employees in the 'middle management' are the most worked. The survey also showed that over 40 per cent of middle managers are already 'burned out'.

<a href="https://www.wionews.com/world/watch-washington-post-ceo-announces-impending-layoffs-leaves-meeting-midway-infuriating-employees-543717">Watch:&nbsp;Washington Post CEO announces impending layoffs, leaves meeting midway infuriating employees</a>

Middle managers everywhere are under extreme pressure from the above and the below levels of the organisation.

In addition to handling dictates from their bosses "to do more with fewer resources", they have had to deal with their reports.

They have had to implement changing and challenging "return to the office" policies and balance between "work from home and the office" or the hybrid work of their junior.

The changing dynamics in the tech world on management and the importance of those roles beyond core engineering teams are more evident with Twitter after Elon Musk took over.

Musk fired over 7,000 staff and said, "there seem to be ten people 'managing' for every one-person coding". That was in response to a question on "what was the most messed up in Twitter" back then.

Words like restructuring, reorganising, more efficient, agile, lean, and mean are what companies are using to lower costs and cut jobs.

<a href="https://www.wionews.com/business-economy/layoffs-and-firings-german-software-maker-sap-to-cut-thousands-of-jobs-556249">Also read |&nbsp;Layoffs and firings: German software-maker SAP to cut thousands of jobs</a>

The recent layoffs clearly show that narrative, with core engineering teams back in focus.

Google's parent Alphabet revealed that the firm has over 30,000 managers. Previously, Alphabet had laid off 12,000 employees or about 6 per cent&nbsp;of its workforce.

At Google, "management" was a bad word not too long ago, and that seems to be the clear directive now.

(with inputs from agencies)

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The recent layoffs at big tech firms show a clear target: the middle manager, according to a Bloomberg report. As big tech firms like Meta, Google, Microsoft and other Silicon Valley giants took to layoffs to lower costs, a report revealed a startling stat - the 'Middle Managers' are the target.

The recent layoffs at big tech firms show a clear target: the middle manager, according to a Bloomberg report. As big tech firms like Meta, Google, Microsoft and other Silicon Valley giants took to layoffs to lower costs, a report revealed a startling stat - the 'Middle Managers' are the target. On Wednesday, Meta's Chief Executive Officer Mark Zuckerberg said the company would be firing some layers of management during a tough year, which he named a "year of efficiency". Also read | Tech layoffs 2023: Dell to lay off 6,500 employees, cut 5% of its global workforce amid 'uncertain future' That comes after the tech giant cut 11,000 jobs last year, or about 13 per cent of its workforce and called those layoffs "just the beginning". In addition to layoffs, Intel cut its managers' and executives' pay in anticipation of a sharp fall in computer demand. Beyond tech firms, similar trends were seen in other large companies on job cuts. A Slack Technologies survey showed employees in the 'middle management' are the most worked. The survey also showed that over 40 per cent of middle managers are already 'burned out'. Watch: Washington Post CEO announces impending layoffs, leaves meeting midway infuriating employees Middle managers everywhere are under extreme pressure from the above and the below levels of the organisation. In addition to handling dictates from their bosses "to do more with fewer resources", they have had to deal with their reports. They have had to implement changing and challenging "return to the office" policies and balance between "work from home and the office" or the hybrid work of their junior. The changing dynamics in the tech world on management and the importance of those roles beyond core engineering teams are more evident with Twitter after Elon Musk took over. Musk fired over 7,000 staff and said, "there seem to be ten people 'managing' for every one-person coding". That was in response to a question on "what was the most messed up in Twitter" back then. Words like restructuring, reorganising, more efficient, agile, lean, and mean are what companies are using to lower costs and cut jobs. Also read | Layoffs and firings: German software-maker SAP to cut thousands of jobs The recent layoffs clearly show that narrative, with core engineering teams back in focus. Google's parent Alphabet revealed that the firm has over 30,000 managers. Previously, Alphabet had laid off 12,000 employees or about 6 per cent of its workforce. At Google, "management" was a bad word not too long ago, and that seems to be the clear directive now. (with inputs from agencies) WATCH WION LIVE HERE

Layoffs: Which jobs, in particular, are at risk?

Tech layoffs: Dell Technologies Inc became the latest tech company to announce layoffs. It has said that it is planning to eliminate about 6,650 jobs which is about 5 per cent of its total global workforce. According to a report by Bloomberg, Dell’s Co-Chief Operating Officer, Jeff Clarke claimed that the company is facing tough market conditions with an uncertain future.&nbsp;

Clarke said, "The company is experiencing market conditions that continue to erode with an uncertain future."

"We’ve navigated economic downturns before and we've emerged stronger," Clarke wrote in his note to employees. "We will be ready when the market rebounds." The company had announced a similar layoff in 2020 when the Covid-19 pandemic had hit."

The announcement by Dell adds it to the growing list of tech companies like Google, Amazon, Meta, and Twitter that have been forced to make a similarly tough decision due to the economic impact of the pandemic. The tech sector which was once considered the most reliable source of employment has now been stuck in troubled waters. Even big-tech companies are now grappling with the balancing act of cost-cutting measures with the need to remain competitive.

Industry analyst International Data Corporation (IDC) said preliminary data show personal computer shipments dropped sharply in the fourth quarter of 2022. Among major companies, Dell saw the largest decline with 37 per cent as compared with the same period in 2021, according to IDC. Dell generates about 55 per cent of its revenue from PCs.

<h2>Google, Amazon, HP, and Cisco layoffs&nbsp;</h2>

Earlier in November, Dell’s rival PC brand, HP also announced that it will be laying off around 6,000 employees over the next three years. HP also acknowledged that the fall in PC demand was the primary reason for taking this step. Cisco Systems Inc. and International Business Machines Corp. had also said that they would eliminate about 4,000 workers each.

The tech sector announced 97,171 job cuts in the year 2022, which is up from 649 per cent compared to the previous year.&nbsp;

Google also laid off 12,000 employees in January and Amazon decided to lay off 18,00 employees instead of the previous estimates of 10,000. These layoffs are hurting migrants even more as popular pathways like H1B visas in the US need an employer to stay relevant. The fired employees get a grace period of 60 days to either apply via another employer or leave the country.&nbsp;

Tech layoffs: Dell Technologies Inc became the latest tech company to announce layoffs. It has said that it is planning to eliminate about 6,650 jobs which is about 5 per cent of its total global workforce.

Tech layoffs: Dell Technologies Inc became the latest tech company to announce layoffs. It has said that it is planning to eliminate about 6,650 jobs which is about 5 per cent of its total global workforce. According to a report by Bloomberg, Dell’s Co-Chief Operating Officer, Jeff Clarke claimed that the company is facing tough market conditions with an uncertain future. Clarke said, "The company is experiencing market conditions that continue to erode with an uncertain future." "We’ve navigated economic downturns before and we've emerged stronger," Clarke wrote in his note to employees. "We will be ready when the market rebounds." The company had announced a similar layoff in 2020 when the Covid-19 pandemic had hit." The announcement by Dell adds it to the growing list of tech companies like Google, Amazon, Meta, and Twitter that have been forced to make a similarly tough decision due to the economic impact of the pandemic. The tech sector which was once considered the most reliable source of employment has now been stuck in troubled waters. Even big-tech companies are now grappling with the balancing act of cost-cutting measures with the need to remain competitive. Industry analyst International Data Corporation (IDC) said preliminary data show personal computer shipments dropped sharply in the fourth quarter of 2022. Among major companies, Dell saw the largest decline with 37 per cent as compared with the same period in 2021, according to IDC. Dell generates about 55 per cent of its revenue from PCs. Google, Amazon, HP, and Cisco layoffs Earlier in November, Dell’s rival PC brand, HP also announced that it will be laying off around 6,000 employees over the next three years. HP also acknowledged that the fall in PC demand was the primary reason for taking this step. Cisco Systems Inc. and International Business Machines Corp. had also said that they would eliminate about 4,000 workers each. The tech sector announced 97,171 job cuts in the year 2022, which is up from 649 per cent compared to the previous year. Google also laid off 12,000 employees in January and Amazon decided to lay off 18,00 employees instead of the previous estimates of 10,000. These layoffs are hurting migrants even more as popular pathways like H1B visas in the US need an employer to stay relevant. The fired employees get a grace period of 60 days to either apply via another employer or leave the country.

Tech layoffs 2023: Dell to lay off 6,500 employees, cut 5% of its global workforce amid 'uncertain future'

Edtech unicorn BYJU'S&nbsp;has begun a fresh round of layoffs, putting almost 900&nbsp;plus employees from various teams and functions in jeopardy, as reported by YourStory. Under the condition of anonymity, three people from the organisation said that the layoffs have mostly affected the marketing, design, logistics, and technology departments in India as well as the product teams in the international business.

Another person who spoke to YourStory said that several senior management employees were also asked to step down as part of the tech layoff bandwagon.&nbsp;

"Folks in the international team were given a heads-up... It's very hush-hush this time. Some of the biggest contributors also have been laid off," said one of these persons.&nbsp;

The majority of the upper management, according to a senior executive at BYJU'S, is already looking for work elsewhere since they "lost faith in the company" as per the YourStory report. Another source independently corroborated the lack of enthusiasm in the company.&nbsp;

"Across most of the company, morale in teams is ridiculously low. Most people have one foot out the door, they're trying to land something else. But as you know, the market is pretty bad," said a former employee who was recently laid off after three years at BYJU'S and who spoke to YourStory.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/byjus-founders-planning-to-increase-their-stake-in-company-to-40-report-549433">BYJU's founders planning to increase stake in the company to 40%: Report</a>

The person continued by saying that top directors and HR staff were present on the video call during which they learned of the layoff.

The reasons given for not sending emails covered the typical ground, including cost-benefit analysis and the failure to generate income from a specific unit. According to the source, email addresses have been disabled, and impacted parties have been given 24 hours to wrap up.

Also watch |&nbsp;FedEx layoffs include officers, directors; cuts 10% of management jobs

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The worst was over for the edtech business, Byju&nbsp;Raveendran said in an interview with Moneycontrol mid-last month on the sidelines of The World Economic Forum in Davos, adding that the company will become profitable by the March or June quarter.

<h2>Previous round of layoffs at BYJU'S</h2>

Previously, as part of its cost-cutting&nbsp;measures, BYJU'S terminated about 2,500 employees in October 2022. The founder-CEO&nbsp;Byju Raveendran&nbsp;had said at the time that he would see that laid-off workers were given access to newly established relevant positions and that they would be rehired.

"I have already instructed our HR leaders to make all the newly created relevant roles available to you on an ongoing basis,"&nbsp;Raveendran wrote in an email to employees on October 31.

At TechSparks 2022, YourStory's flagship startup-tech event, Raveendran expressed confidence that the business will at least partially recover its losses in the fiscal years 2021–2022.

"Wait for (FY) 2022 numbers to come out; we just finished our best six months," he'd said.

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Edtech unicorn BYJU'S has begun a fresh round of layoffs, putting almost 900 plus employees from various teams and functions in jeopardy, as reported by YourStory.

Edtech unicorn BYJU'S has begun a fresh round of layoffs, putting almost 900 plus employees from various teams and functions in jeopardy, as reported by YourStory. Under the condition of anonymity, three people from the organisation said that the layoffs have mostly affected the marketing, design, logistics, and technology departments in India as well as the product teams in the international business. Another person who spoke to YourStory said that several senior management employees were also asked to step down as part of the tech layoff bandwagon. "Folks in the international team were given a heads-up... It's very hush-hush this time. Some of the biggest contributors also have been laid off," said one of these persons. The majority of the upper management, according to a senior executive at BYJU'S, is already looking for work elsewhere since they "lost faith in the company" as per the YourStory report. Another source independently corroborated the lack of enthusiasm in the company. "Across most of the company, morale in teams is ridiculously low. Most people have one foot out the door, they're trying to land something else. But as you know, the market is pretty bad," said a former employee who was recently laid off after three years at BYJU'S and who spoke to YourStory. Also read | BYJU's founders planning to increase stake in the company to 40%: Report The person continued by saying that top directors and HR staff were present on the video call during which they learned of the layoff. The reasons given for not sending emails covered the typical ground, including cost-benefit analysis and the failure to generate income from a specific unit. According to the source, email addresses have been disabled, and impacted parties have been given 24 hours to wrap up. Also watch | FedEx layoffs include officers, directors; cuts 10% of management jobs The worst was over for the edtech business, Byju Raveendran said in an interview with Moneycontrol mid-last month on the sidelines of The World Economic Forum in Davos, adding that the company will become profitable by the March or June quarter. Previous round of layoffs at BYJU'S Previously, as part of its cost-cutting measures, BYJU'S terminated about 2,500 employees in October 2022. The founder-CEO Byju Raveendran had said at the time that he would see that laid-off workers were given access to newly established relevant positions and that they would be rehired. "I have already instructed our HR leaders to make all the newly created relevant roles available to you on an ongoing basis," Raveendran wrote in an email to employees on October 31. At TechSparks 2022, YourStory's flagship startup-tech event, Raveendran expressed confidence that the business will at least partially recover its losses in the fiscal years 2021–2022. "Wait for (FY) 2022 numbers to come out; we just finished our best six months," he'd said. WATCH WION LIVE HERE:

BYJU'S cuts more than 900 jobs across teams, senior executives asked to step down too

Germany's enterprise application software-maker SAP will cut 3,000 jobs or 2.5 per cent of its total workforce globally. SAP will also explore the options to sell off its 71 per cent stake in Qualtrics, another software company in Germany that focuses on the cloud computing business. The company will cut a little more than 200 jobs in Germany, where it is currently headquartered.

SAP now joins the likes of Alphabet-owned Google, Microsoft, Amazon and Meta who announced thousands of layoffs in recent times in what some of them said was part of their efforts to brace for more difficult economic conditions.

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/gravitas-why-are-tech-giants-laying-off-thousands-549863">Gravitas: Why are Tech Giants laying off thousands?</a>

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“We expect only a moderate cost saving impact for 2023, and a more pronounced one in 2024, about 300 million euros to 350 million in run rate savings as of 2024,” Chief Financial Officer Luka Mucic said in a call with journalists, Reuters reported.&nbsp;

Strong rise in revenues, still layoffs

The layoffs come after SAP reported a 30 per cent revenue increase in its cloud business in the fourth quarter, stoked&nbsp;by strong demand for its software.

SAP has also started the process to sell its stake in Qualtrics, which it had bought for $8 billion in 2018 and took it public in 2021 at a valuation of nearly $21 billion. Qualtrics current valuation stands at $7 billion.

“(The sale) would result in a quite significant one-time gain,” Mucic said. “This would materially increase the profit performance of SAP, but it's currently not reflected in the outlook,” Luca Mucic said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/ford-plans-3200-job-cuts-in-europe-plans-to-move-some-work-to-the-us-555314">Ford to cut 3,200 jobs in Europe; plans to move some work to the US</a>

SAP forecast core operating profit of 8.8-8.9 billion euros at constant currencies for this year. It also expects cloud revenue at constant currencies for 2023 to rise to 15.3-15.7 billion euros, from 12.56 billion euros last year.

SAP has also been signing more customers.

“We are going to announce a unique strategic partnership with BMW betting on SAP on all dimensions — one of the biggest deals ever, which was signed yesterday,” Chief Executive Christian Klein said.

(With inputs from agencies)

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Germany's enterprise application software-maker SAP will cut 3,000 jobs or 2.5 per cent of its total workforce globally. SAP will also explore the options to sell off its 71 per cent stake in Qualtrics, another software company in Germany that focuses on the cloud computing business.

Germany's enterprise application software-maker SAP will cut 3,000 jobs or 2.5 per cent of its total workforce globally. SAP will also explore the options to sell off its 71 per cent stake in Qualtrics, another software company in Germany that focuses on the cloud computing business. The company will cut a little more than 200 jobs in Germany, where it is currently headquartered. SAP now joins the likes of Alphabet-owned Google, Microsoft, Amazon and Meta who announced thousands of layoffs in recent times in what some of them said was part of their efforts to brace for more difficult economic conditions. ALSO WATCH | Gravitas: Why are Tech Giants laying off thousands? × “We expect only a moderate cost saving impact for 2023, and a more pronounced one in 2024, about 300 million euros to 350 million in run rate savings as of 2024,” Chief Financial Officer Luka Mucic said in a call with journalists, Reuters reported. Strong rise in revenues, still layoffs The layoffs come after SAP reported a 30 per cent revenue increase in its cloud business in the fourth quarter, stoked by strong demand for its software. SAP has also started the process to sell its stake in Qualtrics, which it had bought for $8 billion in 2018 and took it public in 2021 at a valuation of nearly $21 billion. Qualtrics current valuation stands at $7 billion. “(The sale) would result in a quite significant one-time gain,” Mucic said. “This would materially increase the profit performance of SAP, but it's currently not reflected in the outlook,” Luca Mucic said. ALSO READ | Ford to cut 3,200 jobs in Europe; plans to move some work to the US SAP forecast core operating profit of 8.8-8.9 billion euros at constant currencies for this year. It also expects cloud revenue at constant currencies for 2023 to rise to 15.3-15.7 billion euros, from 12.56 billion euros last year. SAP has also been signing more customers. “We are going to announce a unique strategic partnership with BMW betting on SAP on all dimensions — one of the biggest deals ever, which was signed yesterday,” Chief Executive Christian Klein said. (With inputs from agencies) 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.

Layoffs and firings: German software-maker SAP to cut thousands of jobs

In Pics | Indian startups fire more than 1,000 since the beginning of this year

After Amazon, Microsoft, and Twitter, McDonald's has also joined the layoff bandwagon. On Friday, the fast food giant's CEO Chris Kempczinski in a memo to employees said that it is planning to cut some of its corporate workforce.&nbsp;The CEO said, "We will evaluate roles and staffing levels in parts of the organisation and there will be difficult discussions and decisions ahead." He added,&nbsp;"Certain initiatives will be de-prioritised or stopped altogether. This will help us move faster as an organisation, while reducing our global costs and freeing up resources to invest in our growth."

<a href="https://www.wionews.com/business-economy/mcdonalds-to-exit-kazakhstan-due-to-supply-restrictions-549800">Also&nbsp;read |&nbsp;McDonald's announces exit from Kazakhstan due to ‘supply restrictions’</a>

Being a star during the pandemic, it's time for the company to be more innovative and more efficient, the CEO said during an interview with the Wall Street Journal on Friday.&nbsp;

Kempczinski also added that some of the existing jobs will either move or may go away.&nbsp;

<a href="https://www.wionews.com/world/pure-happiness-mcdonalds-reopens-in-kyiv-but-for-delivery-only-518179">Also read |&nbsp;'Pure happiness': McDonald's reopens in Kyiv, but for delivery only</a>

He also said that he expects to save some money during the staff change, but doesn't have a single dollar to slash or cut the jobs he is looking to.

McDonald's says that it plans to communicate future staff structure by April 3.&nbsp;

As per reports, the fast food giant had around 200,000 corporate staff and workers by the end of 2021.&nbsp;

(With inputs from agencies)

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After Amazon, Microsoft, and Twitter, McDonald's has also joined the layoff bandwagon. On Friday, the fast food giant's CEO Chris Kempczinski in a memo to employees said that it is planning to cut some of its corporate workforce.

After Amazon, Microsoft, and Twitter, McDonald's has also joined the layoff bandwagon. On Friday, the fast food giant's CEO Chris Kempczinski in a memo to employees said that it is planning to cut some of its corporate workforce. The CEO said, "We will evaluate roles and staffing levels in parts of the organisation and there will be difficult discussions and decisions ahead." He added, "Certain initiatives will be de-prioritised or stopped altogether. This will help us move faster as an organisation, while reducing our global costs and freeing up resources to invest in our growth." Also read | McDonald's announces exit from Kazakhstan due to ‘supply restrictions’ Being a star during the pandemic, it's time for the company to be more innovative and more efficient, the CEO said during an interview with the Wall Street Journal on Friday. Kempczinski also added that some of the existing jobs will either move or may go away. Also read | 'Pure happiness': McDonald's reopens in Kyiv, but for delivery only He also said that he expects to save some money during the staff change, but doesn't have a single dollar to slash or cut the jobs he is looking to. McDonald's says that it plans to communicate future staff structure by April 3. As per reports, the fast food giant had around 200,000 corporate staff and workers by the end of 2021. (With inputs from agencies) WATCH WION LIVE HERE

Fast food giant McDonald's to begin layoffs from April 2023, says CEO Chris Kempczinksi

Crypto exchange Huobi adds its name to the list of companies that chose to lay off their staff as it announced to lay off 20% of its workforce for cost cutting as investor interest in digital assets has slumped sharply.&nbsp;The crypto exchange company told Reuters that&nbsp;it&nbsp;plans to lay off 20 per cent of its workforce.&nbsp;Huobi, in a statement, said, "The planned layoff ratio is about 20 per cent, but it is not implemented now. With the current state of the bear market, a very lean team will be maintained going forward."

<a href="https://www.wionews.com/world/amazon-to-cut-over-18000-workers-says-ceo-andy-jassy-549539">Also read |&nbsp;Amazon to cut over 18,000 jobs, says CEO Andy Jassy; workers to know employment status by Jan 18</a>

The statement comes after a similar message earlier from the Tron founder Justin Sun, who said that the 'structural adjustment' in the company has&nbsp;not started, but is expected to complete by the first quarter.

The founder of the cryptocurrency exchange firm in an internal memo said that the company has been a 'fire'&nbsp;in the "(crypto) winter" despite the deteriorating macro environment.&nbsp;

When asked, he termed the shortage as "short-term pains" that can bring advantages for the firm.&nbsp;

<a href="https://www.wionews.com/technology/tech-giant-salesforce-joins-the-layoff-bandwagon-fires-10-of-its-workforce-549485">Also read |&nbsp;Tech giant Salesforce joins the layoff bandwagon; fires 10% of its workforce</a>

Similarly, cryptocurrency firm Genesis recently in its second round of layoffs cut 30 per cent of its workforce in less than six months.&nbsp;

Globally, Huobi stood as the eighth largest crypto-exchange as of November, according to analysing website CoinGecko.&nbsp;

As per CoinMarketCap, the Huobi Token peaked in late October at $ 9.40 with a 24-hour volume then of $52.50 million.&nbsp;

However, as of Friday, the token price was $4.68, and volume was down to $20.53 million. 
 
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Crypto exchange Huobi adds its name to the list of companies that chose to lay off their staff as it announced to lay off 20% of its workforce for cost cutting as investor interest in digital assets has slumped sharply.

Crypto exchange Huobi adds its name to the list of companies that chose to lay off their staff as it announced to lay off 20% of its workforce for cost cutting as investor interest in digital assets has slumped sharply. The crypto exchange company told Reuters that it plans to lay off 20 per cent of its workforce. Huobi, in a statement, said, "The planned layoff ratio is about 20 per cent, but it is not implemented now. With the current state of the bear market, a very lean team will be maintained going forward." Also read | Amazon to cut over 18,000 jobs, says CEO Andy Jassy; workers to know employment status by Jan 18 The statement comes after a similar message earlier from the Tron founder Justin Sun, who said that the 'structural adjustment' in the company has not started, but is expected to complete by the first quarter. The founder of the cryptocurrency exchange firm in an internal memo said that the company has been a 'fire' in the "(crypto) winter" despite the deteriorating macro environment. When asked, he termed the shortage as "short-term pains" that can bring advantages for the firm. Also read | Tech giant Salesforce joins the layoff bandwagon; fires 10% of its workforce Similarly, cryptocurrency firm Genesis recently in its second round of layoffs cut 30 per cent of its workforce in less than six months. Globally, Huobi stood as the eighth largest crypto-exchange as of November, according to analysing website CoinGecko. As per CoinMarketCap, the Huobi Token peaked in late October at $ 9.40 with a 24-hour volume then of $52.50 million. However, as of Friday, the token price was $4.68, and volume was down to $20.53 million. WATCH WION LIVE HERE

Crypto exchange firm Huobi to lay off 20% of workforce amid industry slump

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