![]() ![]() That same day, Thoughtworks reported that its revenue had increased 8.3% between the fourth quarter of 2022 and the fourth quarter of 2021. TechCrunch noted that the company "did not dispute" the figure when reached for comment on March 1.Īccording to TechCrunch, Thoughtworks "initially informed" the affected employees about the decision on February 28. Thoughtworks, a software consultancy firm, reportedly laid off 500 employees or 4% of its global workforce, according to TechCrunch. Screenshot of Guo Xiao from the Thoughtworks website. ![]() That day, CEO Guo Xiao said in the company's earnings release that it was "pleased" with its performance in the fourth quarter of 2022. Thoughtworks laid off 500 employees on February 28. At the time, Zuckerberg called the layoffs a "last resort." The job cuts come less than 5 months after Meta slashed 11,000 workers, or about 13% of its workforce, in November. "In a small number of cases, it may take through the end of the year to complete these changes," he wrote. In the post, Zuckerberg said that members of Meta's recruiting team would learn about the fate of their jobs in March, while tech workers would find out in late April, and business groups would find out in May. "My hope is to make these org changes as soon as possible in the year so we can get past this period of uncertainty and focus on the critical work ahead," Zuckerberg wrote in a post on Facebook announcing the layoffs. Zuckerberg also said the company would close around 5,000 open roles that haven't yet been filled as part of the company's effort to downsize. Roughly 10,000 Meta workers will find out that their jobs have been cut between March and May, according to an announcement by the company's founder and CEO, Mark Zuckerberg. Opendoor last made cuts in November 2022, laying off 550 workers or about 18% of its staff. Impacted team members will receive severance pay, extended health benefits, and job transition support. The spokesperson noted that the cuts have been made to "better align our operational costs with the anticipated near-term market opportunity, while maintaining our critical technology investments that will continue to drive the business long term." On Tuesday, home flipping giant Opendoor said it was cutting 560 jobs, or 22% of its workforce, citing a souring housing market.Ī spokesperson for Opendoor told Insider by email,"We've been weathering a sharp transition in the housing market – the steepest and fastest rate increase by the Fed in 40 years, the more than doubling of mortgage rates from historic lows, and the hit to home affordability have driven an approximately 30% decline in new listings from peak levels last year." Opendoor announced it was cutting 560 jobs on Tuesday. Account icon An icon in the shape of a person's head and shoulders. ![]()
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