Around 60% of nearly 600 stalled real estate projects in Kolkata are expected to receive clearance within days, offering relief to homebuyers and boosting the sector after construction was suspended for revalidation.
Etsy is laying off about 220 employees, or roughly 12% of its workforce, to simplify its organizational structure and innovate faster. The announcement came alongside Q2 earnings results that surpassed analyst expectations.
Digital asset prime brokerage FalconX laid off roughly 10% of its global workforce to prepare for a prolonged cryptocurrency market downturn, while also reshaping its strategy in Singapore.
Meta CEO Mark Zuckerberg asserts that AI is a net job creator, citing infrastructure needs, despite Meta laying off 8,000 employees and reassigning 7,000 others this year. He distinguishes between jobs created in construction and engineering for AI infrastructure and those eliminated internally, while investors question the high spending.
A Filipino housekeeper began working in Japan, part of a trend enabled by a 2015 legal change allowing foreign housekeepers in designated areas to address labor shortages and boost women's workforce participation. Pinay International now employs over 200 Filipino staff in various prefectures.
Visa plans to lay off about 7% of its workforce (≈2,600 positions), primarily in tech and product ops, to streamline and invest in growth areas like AI, affluent customer services, and cross-border payments.
Elon Musk discusses his involvement with Trump's administration, defends cuts to USAID despite criticism over potential loss of life, and expresses support for European far-right factions in an interview with The Economist.
UK employers are facing more employment tribunal claims involving ADHD and autism as awareness, diagnosis rates and expectations around reasonable adjustments rise. A Lidl case awarded Ryan Toghill more than £45,000 after the tribunal found his ADHD was not properly considered.
India's National Testing Agency (NTA) has terminated 47 officials and begun a major workforce overhaul, appointing new specialist leadership in cybersecurity, forensics, and test operations. This restructuring follows the NEET-UG paper leak, which necessitated a re-examination for nearly 20 lakh candidates.
Patreon CEO Jack Conte announced a 20% workforce reduction, affecting 93 employees, due to market changes and the tech industry's transformation by AI. Conte clarified AI isn't replacing staff but impacts operations, while also detailing severance packages and a recent partnership to block AI scraping.
Elon Musk admitted to The Economist that he "got carried away" working as the unelected director of the Department of Government Efficiency (DOGE) under Donald Trump, where he oversaw mass firings and federal spending cuts, including to USAID, despite public health researchers linking the cuts to hundreds of thousands of deaths.
Prime Minister Andy Burnham and senior ministers are establishing "No 10 North" in Manchester, a new Downing Street branch intended as a dominant economic driver. While welcomed, civil servants express concerns over relocation and the initiative's permanence.
Patreon is laying off 20% of its workforce, approximately 93 employees, due to AI's fundamental transformation of the tech industry and company operations, according to CEO Jack Conte. This follows a previous 2022 layoff and office closures in Dublin and Berlin.
Israeli workplace software firm Monday.com is laying off 630 employees, 20% of its staff, as part of a restructuring plan to concentrate investments on its AI Work Platform and adopt a leaner operating model.
BlackRock, Carhartt, Ford Motor Co., and Google have formed the Alliance for America's Skilled Trades to address growing labor shortages. The initiative aims to expand access to skilled workforce training through apprenticeships and awareness campaigns, responding to increasing demand for tradespeople and shifts in educational preferences.
Cryptocurrency wallet company Exodus announced a 25% workforce reduction to restructure its cost base and align with its strategy to build a full-stack card issuance and payments platform. This follows recent acquisitions and is projected to yield $10M-$13M in annual savings by 2027, with $2.5M-$3.5M in pre-tax charges.
A new report by the Economic Policy Institute suggests tripling US union membership to 30% could boost the median worker's pay by 14.5% ($7,700 annually), shifting $1.2tn to workers, narrowing racial wage gaps, and reversing one-third of inequality since 1979.
The United States is experiencing converging crises in election security, public health, and environmental protection. The Trump administration's policies, including federal workforce cuts, reduced funding for agencies, and rollbacks of environmental regulations, are exacerbating these issues, leading to disease outbreaks and increased vulnerability to environmental disasters.
Google workers, led by the Alphabet Workers Union, delivered a petition with over 4,500 signatures to CEO Sundar Pichai's office, demanding layoff protections, guaranteed severance, and an end to quota-based performance ratings. This action comes as tech giants continue workforce reductions while heavily investing in AI.
Despite concerns from prominent business leaders about New York City's economic environment under Mayor Zohran Mamdani, Airbnb purchased a building for $81.5 million, and AI company Anthropic announced plans to significantly expand its workforce and lease a 16-story building, reaffirming their long-term commitment to the city.
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.
Xbox CEO Asha Sharma announced significant layoffs and studio transfers, sparking a debate over immigration and 'American' workers. Critics falsely claimed Sharma, a US citizen of Indian origin, fired Americans for H-1B visa holders, while others criticized the cuts due to Microsoft's profits.
TCS reported $7.6 billion in June-quarter revenue, a 2.7% year-on-year increase. The company saw a 2.7% sequential decline in net profit due to a one-time charge and annual wage hikes impacting operating margins to 24%. Despite cautious tech spending, TCS resumed workforce expansion, adding 9,279 employees.
Volkswagen's supervisory board is set to review radical plans for job cuts and factory closures, facing protests from IG Metall union members at 18 sites. The proposals aim to secure the company's long-term survival amid intense competition and the shift to electric vehicles.
