company-restructuring Archives

Reduction of Company Expenses: Automattic Terminates 16% of Employees

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4 months ago
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Matt Mullenweg, the CEO of Automattic, the parent company of WordPress, Tumblr, and Woocommerce, has announced a 16% workforce reduction to cut expenses (estimated around 280 employees out of a...

Innovative AI Company OpenAI Faces New Funding Terms: Requires Transition to For-Profit Entity by Year’s End to Access $4 Billion Investment Pool

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4 months ago
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The Wall Street Journal has reported additional information regarding OpenAI’s new capital plan, which will receive $40 billion led by SoftBank along with other investors. This round of funding comes...

Unveiling the Metamorphosis: Introducing the Group CEO Transformation to Decouple Organizational and Consumer Businesses

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5 months ago
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True Corporation has announced a new organizational structure as follows: Appointing Mr. Sikwe Breckgay as Group CEO and Chairman of the management team. He will be overseeing the strategic direction...

Sonos Continues Restructuring Efforts with Further Layoffs and Internal Revamp – CEO Resigns, 200 More Employees Let Go

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6 months ago
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Sonos company is still reeling from layoffs since the beginning of the year. CEO Tom Conrad stated the necessity of letting go another 200 employees, a decision deemed arduous by...

Ubisoft Terminates 185 Employees, Closes Studio in Leamington, UK

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6 months ago
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Ubisoft has confirmed the news of laying off 185 employees, which includes the closure of Ubisoft Leamington studio in the UK, and letting go of some staff in Ubisoft Düsseldorf...

Ubisoft Announces Closure of XDefiant Game in 2025 and Cuts Half of Workforce

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8 months ago
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Ubisoft has announced the closure of the XDefiant game service, with new players unable to download or register to play the game moving forward. However, servers will remain online until...

OpenAI’s Chairman Greg Brockman Resumes Normal Work Routine Following Unspecified Hiatus

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9 months ago
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Greg Brockman, one of the co-founders of OpenAI and the company’s chairman, has announced the end of his extended leave of absence. It is now time for him to return...

Rumors Circulating: Intel May Need to Split into Two Entities – Chip Design Division and Contract Manufacturing Division

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11 months ago
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Bloomberg reports that Intel is consulting with financial advisors including Morgan Stanley and Goldman Sachs to strategize a turnaround plan after experiencing significant revenue losses and increased deficits. Possible strategies...

Broadcom Embarks on Employee Disengagement at VMware Following Business Acquisition – Dictating Remote Work Abandonment

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2 years ago
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After completing the acquisition of VMware, Broadcom has reportedly begun restructuring the organization immediately. As a preliminary step, there will be a layoff of approximately 2,000 employees, with 1,267 employees...