Rivian confirmed layoffs affecting less than 2% of its workforce, impacting service and customer teams, just a week after starting R2 SUV deliveries. This is the fourth round of cuts in 2024, aimed at boosting efficiency as the company pushes back its profitability goal.
Staff at Goldsmiths, University of London, are on an indefinite strike due to a third round of restructuring aimed at saving £22 million through mass redundancies, putting over a fifth of the workforce at risk. This follows two previous restructuring programs that resulted in job losses and significant savings, the destination of which remains unclear.
Geely Auto plans to restructure assets to eliminate excess capacity and enhance global competitiveness in its battle with BYD. The company aims to become a stronger, larger automaker with improved systemic development, governance, and international presence.
Microsoft is reportedly exploring significant restructuring for its Xbox division, including potential spin-offs or sales, as it reevaluates next-generation console plans and invests in major titles like Halo and Fallout.
Meta's AI investments have led to 8,000 layoffs, with over half concentrated in California and Washington. Software developers and middle managers, particularly engineering managers, were most affected, aligning with CEO Mark Zuckerberg's strategy to reduce corporate bloat.
The military wing of Muqtada al-Sadr's movement, Saraya al-Salam, handed over its security responsibilities in Samarra to the Iraqi army. This move aligns with broader efforts to restructure the Popular Mobilization Forces (PMF) and consolidate state control over armed groups.
Leonardo Maria Del Vecchio and Rocco Basilico have reportedly reached an agreement on the restructuring of Delfin, the holding company of the Del Vecchio family. This agreement settles a legal dispute over the distribution of shares and aims to facilitate a significant financing deal.
Leonardo Maria Del Vecchio and Rocco Basilico have reportedly reached an agreement on the restructuring of Delfin, the holding company of EssilorLuxottica and other financial stakes. The agreement ends legal actions previously announced by the brothers.
GitLab is laying off 350 employees (14% of workforce) and exiting 22 countries to focus on the AI-driven 'agentic era'. The company reported strong Q1 results, beating Wall Street estimates, and plans to reinvest savings into R&D, particularly its Duo Agent Platform.
New Taipei City's industrial real estate market is evolving due to AI and supply chain shifts. Two industrial zone urban renewal projects in Tucheng and Sanchong have been approved, expected to create jobs and economic value. The demand for new factory buildings is high, with Sanchong leading in renewal applications.
While the tech industry faces massive layoffs in 2026, the role of Forward-Deployed Engineer (FDE) has seen a 729% surge in job postings, with salaries ranging from $170,000 to over $200,000. Companies like Anthropic, OpenAI, and Google are actively hiring FDEs to integrate AI tools into client workflows.
Niti Aayog's governing council, led by PM Narendra Modi, will meet on June 11 to review state chief secretaries' deliberations and actions taken on reforms. A day later, Modi will chair a meeting of North-East chief ministers. The meeting occurs amidst the West Asia conflict impacting India's economy.
Meta is reassigning approximately 7,000 employees to new AI-focused teams as part of a broader restructuring, with CEO Mark Zuckerberg prioritizing AI development. This initiative includes the formation of an Applied AI group and other teams focused on AI agents and model development.
Meta is reassigning approximately 7,000 employees to new AI-focused teams as part of a broader restructuring effort. CEO Mark Zuckerberg aims to strengthen the company's position in the AI sector, with the Applied AI group and other AI initiatives at the core of the strategy.
Meta has eliminated over 2,700 jobs in California as part of a global workforce reduction aimed at prioritizing AI development. Software engineers focused on AI products were most affected, with layoffs occurring across multiple Silicon Valley locations.
Meta India has laid off close to a dozen employees in ad sales, marketing and individual contributor roles, according to sources. The move follows Meta’s wider global restructuring tied to cost cuts and increased focus on AI initiatives.
Tasmanian Labor proposes restructuring government businesses involved in the troubled Spirit of Tasmania vessel replacement program, aiming to end bailout cycles for TT-Line by reclassifying TasPorts and transferring assets to a new entity, while the government faces criticism over budget cuts.
Milan sacked coach Massimiliano Allegri after a poor season. Tottenham announced a major restructuring following a near-relegation. German tennis player Laura Siegemund will use a heating pad during her match at the French Open.
ClickUp CEO Zeb Evans announced layoffs affecting over 20% of staff, framing it as a proactive restructuring for a "100x org." The company is introducing $1M salary bands for employees building or managing impactful AI systems, emphasizing a shift towards AI-driven productivity and new roles.
Porsche CEO Michael Leiters is reportedly considering a significant restructuring of the company's management and corporate structure, including a potential reduction in the board of directors and consolidation of departments. The move comes amid declining business in China and America, weak electric vehicle sales, and high production costs, which have led to a sharp drop in profit margins.
Indonesia is restructuring its commodity trade policies, establishing a new state-owned entity to manage exports of coal, palm oil, and iron alloys. This move, aimed at boosting tax revenue and global energy security, has raised concerns among China and other trading partners about supply chain impacts and potential geopolitical shifts.
Venture capitalist Steve Jang predicts AI will displace white-collar workers who don't adapt, while blue-collar jobs face outright replacement. He advocates for open-source AI and emphasizes 'Heung' (excitement/energy) over traditional 'Han' (resentment) for startup success.
SMIC has received final regulatory approval to acquire the remaining 49% of its Beijing foundry unit, SMNC, in a share-based deal valued at US$5.97 billion. This move aims to consolidate SMIC's position in the semiconductor market.
The European Commission is considering a major restructuring of departments that handle EU funds, potentially centralizing management under a new service. This plan, driven by President Ursula von der Leyen, aims for greater efficiency and alignment with EU priorities.
