COMPANIES

The layoffs will largely affect corporate and back-office roles that are "primarily duplicative" or may be aligned to changing systems or processes, or "may not fit" with the company's current priorities.

BioWare is laying off 50 workers weeks after parent company Electronic Arts moved the SWTOR game to an outside studio.

Biotech companies have also been hit by the wider tech reckoning that has so far resulted in more than 231,000 job cuts so far this year.

The Subway sandwich chain is near a deal to be acquired for more than $9 billion in a transaction that could be announced as soon as Wednesday, a person familiar with the matter said.

Thailand has threatened to take legal action against Facebook over cryptocurrency scams on the platform that are being facilitated through advertisements.

Elon Musk has admitted that X, previously known as Twitter, may be poised to fail less than a year after he acquired the social network for $44 billion, and some users believe Linda Yaccarino is to blame.

Elon Musk said Friday his social media company X would scrap a feature that allows users to block posts from specific accounts.

United States Steel has launched a strategic review after receiving several unsolicited offers for a partial or total takeover, and has already rebuffed one "unreasonable" offer.

Microsoft is already enjoying the benefits of its investment in OpenAI and now it is reportedly banking on Databricks to launch a new AI service.

Ola Electric founder and CEO Bhavish Aggarwal said the facility will open next year. It will allow them to start using Indian-manufactured cells in their motorbikes.

Vietnamese EV maker VinFast now has a market valuation above established carmakers such as Volkswagen, Ford and others after its Nasdaq debut. The company is looking to sell up to 50,000 EVs this year, backed by its U.S. expansion.

Indonesia-based Noice has implemented layoffs more than a year after it raised $22 million in a funding round. The startup joins Spotify and a few other streaming platforms that cut staff this year.

SecureWorks has once again announced layoffs just months after it reduced its headcount by around 9%, this time affecting a larger percentage of the workforce.

CoinDesk is reportedly letting go of some workers on its editorial team months after it broke the story that led to FTX's collapse.

Meta's Threads app has seen a significant decline in daily active Android users and people are spending less time on the app just over a month after it took social media by storm.

Meta is rehiring some of the employees affected by multiple rounds of layoffs at the company since November, and some are reportedly getting lower salary offers or lower positions.

Mobile Premier League (MPL) is reportedly laying off around 50% of its global workforce, weeks after India's GST announced a 28% tax on online gaming platforms that the industry said would burden both companies and players.

Rapid7, which has been at the center of takeover reports in the past months, announced an 18% reduction in its global workforce. More than three dozen cybersecurity firms have implemented layoffs in 2023.

The company's downfall was attributed to a combination of factors, including a poorly executed merger, excessive debt burden from acquisitions and inadequate integration of acquired companies.

Users can now utilize voice commands through Monocle's AR device, enabling a truly hands-free experience with ChatGPT's capabilities.

Discover the top-rated essential oil brands of 2023 and explore their finest offerings for aromatherapy, wellness and natural remedies in this comprehensive guide.

Yellow Corp. is officially closing, declaring bankruptcy and expecting its stock to soon be delisted from the Nasdaq composite.

Apple reported modestly higher quarterly profits Thursday despite another dip in revenues, as a record performance in services offset lower iPhone sales.

Beijing's foreign ministry has criticized the U.S. for adding two more companies to its UFLPA entity list, saying allegations of forced labor in Xinjiang were lies propagated by anti-China elements.

"Given the rigid Chinese stand on border issue, I would consider this is a golden opportunity for India to slowly disengage Indian economy from Chinese supply chain. India should look for alternative trading partners," said Sanjib Pohit, author and professor at the National Council of Applied Economic Research (NCAER), India.

A study in February revealed that cybersecurity teams will be less likely affected by the wider tech reckoning, but several cybersecurity companies have already implemented job cuts this year.

GlaxoSmithKline sued Pfizer on Wednesday over patent infringement, alleging the US drugmaker's RSV vaccine steals key elements of the British company's version.

"Indian manufacturers are looking for collaboration opportunities with international players to access the technology and finance at low cost," Vibhuti Garg, director, South Asia at IEEFA, said, adding that India can "set up the big capacities not only to meet their internal demand but also export to other countries and accelerate the roadmap to energy transition."

CEO Will Marshall said Planet has had increased costs and business complexity since it went public in December 2021. Furthermore, changes in the macroeconomic environment also affected the company.