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Spotify to cut nearly 20% of its workforce despite turning £55m profit in latest report | Science & Tech News
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Popular music-streaming app Spotify will cut almost a fifth of its workforce despite turning a profit of €65m (£55.7m), according to its latest figures. The firm’s latest round of job cuts will affect around 1,500 people – which is 17% of its current total of 9,300 employees. It’s the third round of job losses at…
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Virgin Orbit sacks 85% of workforce and ceases operations ‘for foreseeable future’ | UK News
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Sir Richard Branson’s Virgin Orbit has said it is laying off 85% of its staff and will cease operations for the foreseeable future. The satellite launch company, which is 75%-owned by the British billionaire’s Virgin Group, was unable to secure new funding from investors. Back in January, the company failed to complete the first-ever satellite…
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Coinbase cuts 20% of global workforce amid crypto collapse | Business News
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Coinbase, the cryptocurrency exchange platform, is to cut 950 jobs, about 20% of its global workforce. The company has announced the third round of layoffs in a year as part of a restructuring plan. The move follows the sharp downfall in the value of cryptocurrency and has been blamed on that as well as the…