Cisco foresees sluggish demand for its products and software services during the next three to six months while its customers exercise “a greater degree of caution” amid an uncertain economic outlook, CEO Chuck Robbins said.
Battery maker EnerDel files for Chapter 7 bankruptcy
The company’s bankruptcy filing comes less than a month after it shut down its Andersen plant in a decision that blindsided employees.Read More
Contract drugmaker Catalent shrinks as pandemic wanes
The New Jersey-based company has announced two large rounds of layoffs at its Bloomington plant within six months—400 workers last December and 150 this month.Read More
Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000
The job cuts would mark the second largest round of layoffs in the company’s history, adding to the 18,000 employees the tech giant said it would lay off in January.Read More
IBJ Podcast: Digging into Salesforce’s ‘restructuring’ and what it could mean for Indianapolis
The global tech giant revealed Wednesday that planned to lay off about 10% of its employees companywide and shrink its real estate footprint. But execs are mum on the possible ramifications for downtown’s Salesforce Tower.Read More
Tennessee-based Kenco Logistic Services LLC did not specify to state officials why it decided to close the facility at 202 S. Belmont Ave. The layoffs are scheduled to occur on March 19.
Other tech companies, such as Microsoft Corp., Alphabet Inc.’s Google and Amazon.com Inc., also signaled layoffs this month.
Based in Texas, Alan Ritchey Inc. describes itself as a family-owned company that provides services to the government, as well as industrial, agriculture, energy and transportation sectors.
Aurorium, which traces its roots to Reilly Industries, is closing a facility at a site that has been home to a chemical manufacturing plant since 1921.
The Chapter 11 bankruptcy filed Sunday arrives just three years after Yellow received $700 million in pandemic-era loans from the federal government. Yellow has hundreds of workers in Indiana.
The company reported having 60 employees in the United States in early 2022, though it’s not known if that number included about 25 employees at an engineering center in California.
The laid-off employees’ profiles indicate that the cuts spanned multiple departments at Formstack, including marketing, public relations, human resources, customer service, sales and product design.
Despite the drop, the number of layoffs ticked lower in February, and more Americans quit their jobs—a sign of confidence they can find better pay or working conditions elsewhere.
McDonald’s has more than 150,000 employees in corporate roles and in company-owned restaurants. It warned employees in January that layoffs would be coming.
Citing “changing market conditions,” the company said in a letter to the Indiana Department of Workforce Development dated Wednesday that the closure would be permanent.
Many tech companies admit that they hired too much during the pandemic, betting that lifestyle changes—including remote work, e-commerce spending and video-game habits—would bring a bigger windfall. Now they’re dealing with the aftermath.
The job cuts amount to about 3% of the entertainment giant’s global workforce and were unveiled after Disney reported quarterly results that topped Wall Street’s forecasts.
In just the past month, there have been about 50,000 job cuts across the technology sector. Here’s a look at some of the companies that have announced recent layoffs.
The music streaming giant has about 9,800 employees. In recent years it has made a massive investment in acquiring podcast networks, creation software, a hosting service and the rights to popular shows like “The Joe Rogan Experience” and “Armchair Expert.”
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
Corteva Inc., the Indianapolis-based seed and insecticide giant, is cutting 5% of its global workforce, or roughly 1,000 workers, as it reduces its portfolio of products and streamlines its operations.
The e-commerce giant is expected to cut about 10,000 workers, or 3 percent of its corporate workforce.