Volkswagen reported a 9.5% drop in Q2 operating profit and cut its annual revenue forecast by up to 3% due to a significant sales slump in China. The German carmaker is implementing a cost-cutting program, including plans to axe up to 100,000 jobs globally, facing union opposition.
Amazon has laid off employees from its Artificial General Intelligence (AGI) team, responsible for developing human-level AI, despite calling AGI a top priority. The cuts, affecting roles in model customisation and post-training, aim to sharpen focus on key AI initiatives amid continued heavy investment and recent leadership changes.
Uber cut 10% of its customer service roles, citing AI efficiency and operational complexity, marking its second layoff in two months. Remote employees are mandated to relocate. This is Uber's first time explicitly blaming AI for job cuts, following significant AI spending and internal skepticism about its cost-effectiveness.
Germany faces significant economic challenges, with company insolvencies up 80% in June compared to pre-pandemic levels and major job cuts announced by firms like Volkswagen and Bosch. Experts debate whether this signifies a market correction or deeper structural weakness, while increasing startup numbers offer some hope.
Paul, a public-sector employee, faces job cuts due to AI integration, exacerbating his personal distress and career uncertainty. The article explores "Fobo" (fear of becoming obsolete) as a growing workplace anxiety and offers strategies like cultivating human skills, networking, and seeking supportive organizations to navigate AI's impact on the workforce.
A US judge ruled that Meta Platforms can proceed with the layoffs of 26 employees who sued the company, alleging discriminatory AI tools were used for job cuts. The judge declined to block the layoffs, citing a lack of "irreparable harm," but indicated a potential reconsideration if more evidence on AI use is provided.
Sky's acquisition of ITV, a £200m deal ending 70 years of independence, signals a crisis for British TV. Deep-pocketed US streamers dominate, forcing consolidation and raising fears of job losses and the future of iconic shows.
Amazon's massive layoffs, driven by AI investment, have displaced thousands of tech workers, forcing them into a competitive job market where roles are being automated. Many former employees are seeking stability in startups or facing pay cuts, highlighting a significant shift in the tech industry.
Volkswagen Group's plan to cut 100,000 jobs and close four German factories by 2030 was reportedly rejected by its supervisory board. The company faces challenges with costly tariffs and declining market share in China and North America, impacting profit margins.
Volkswagen's labour representatives on the supervisory board rejected a major restructuring plan reportedly including 100,000 job cuts and four plant closures. The plan was voted down 12-7. The company reported an 8.6% drop in Q2 vehicle deliveries.
Volkswagen's management faces potential major conflict with unions over reported plans to cut up to 100,000 jobs and close four factories. IG Metall warns of strong opposition to restructuring aimed at addressing competition, EV margins, and US tariffs.
Microsoft is cutting approximately 4,800 jobs, about 2.1% of its global workforce, primarily impacting sales and Xbox teams. Affected US employees will receive severance packages including up to 39 weeks of pay, continued stock vesting, and paid health insurance.
Volkswagen is set to discuss significant job cuts and factory closures, potentially impacting 100,000 global roles and four German plants. Unions are protesting, and labor representatives hold a majority on the supervisory board, complicating approval.
Volkswagen's supervisory board will review drastic proposals to cut up to 100,000 jobs and close German factories. Unions have organized protests across 18 sites, warning against placing the burden on the workforce.
India's technology and software services sector may see up to 35,000 job eliminations this year due to increased focus on productivity and market competition. Staffing firms report 10,000-15,000 'silent layoffs' already occurred, with projections for the full year ranging from 25,000 to 35,000.
John Lewis is considering closing its in-store money exchange and gift wrapping services, a move that could lead to around 200 job losses. The retailer cites falling demand for foreign currency exchange and a shift towards online orders and digital payments. Gift wrapping services are proposed to be moved to tills. Affected staff will be consulted.
Volkswagen plans to cut up to 100,000 jobs globally, including tens of thousands in Germany, and close four factories. This move aims to address its massive workforce, a legacy of its self-sufficiency strategy, and compete with agile Chinese rivals.
Microsoft is eliminating approximately 4,800 roles, representing 2.1% of its global workforce, in a move attributed to AI advancements. This adds to a broader trend of significant tech layoffs in 2026, with companies citing AI as a driver for both growth and workforce reductions.
Microsoft is eliminating approximately 4,800 jobs, representing 2% of its global workforce, as part of a cost-cutting measure and a significant restructuring of its Xbox gaming division. This includes shedding 3,200 gaming jobs and spinning off or reviewing five game studios.
Microsoft is cutting approximately 4,800 jobs, about 2% of its global workforce, as part of a cost-cutting and restructuring effort. The struggling Xbox gaming division will see the deepest overhaul in its history, with 3,200 gaming jobs shed, four studios spun off or sold, and a fifth under review.
Microsoft is cutting 4,800 jobs, about 2.1% of its workforce, with a significant number of layoffs impacting Xbox. Four Xbox game development studios will also be spun off as part of a major restructure aimed at adapting to a rapidly changing industry and leveraging AI.
Microsoft is eliminating 4,800 jobs, 2.1% of its workforce, with the Xbox division losing 20% of its staff, or 3,200 roles, by fiscal year 2027. These cuts are part of cost-reduction efforts amid investor concerns about AI and lagging revenue in areas like Windows and Xbox.
Lucid Motors' new CEO Silvio Napoli is restructuring the EV maker, announcing the departure of CFO Taoufiq Boussaid and hiring new executives for key roles. This follows recent job cuts and a production shift reduction at its Arizona factory, aiming to simplify operations and boost competitiveness.
Volkswagen is reportedly considering cutting up to 100,000 jobs and closing four German factories, a plan facing strong opposition from lawmakers and unions. The company's supervisory board will vote on the restructuring on July 9, with significant hurdles due to the Volkswagen Law and the state of Lower Saxony's stake.
