# layoffs
Latest news and articles about layoffs
Total: 12 articles found
Once a Poster Child of China’s Casual Dining Boom, Xibei Scrambles to Stem Losses as Founder Recedes from Spotlight
Xibei, a major Chinese casual‑dining chain, has closed roughly 30% of its outlets and reported losses exceeding RMB 600 million since September 2025. Founder Jia Guolong has retreated from the CEO role while the company pursues emergency fundraising from personal contacts and implements sharp cost cuts and workforce reductions to stabilise cash flow.
iFlytek Denies Massive Layoff Rumours as Strong Cash Flow and AI Demand Bolster Guidance
iFlytek has denied online rumours of a major layoff affecting around 1,500 staff and low severance terms, with its PR vice-president calling the reports false. The company reported strong 2025 guidance—projected net profit of RMB 785–950 million—and record operating cash flow above RMB 3 billion, driven by scaled AI deployments and some government project subsidies.
Inner‑Mongolian Miner and Industry Peers Step In as Xibei Scrambles to Stem Crisis
Xibei, a prominent Chinese restaurant chain, has taken emergency steps—including minority investments from a mining magnate and industry peers, mass store closures, staff cuts and leadership changes—after a scandal over pre‑prepared dishes precipitated a steep sales decline. The injections are small and largely symbolic; the company now faces a difficult recovery that depends on restoring product credibility while managing a slimmer cost base.
How the AI Boom Has Cornered the Games Industry: Memory Shortages, Mass Layoffs and a Crisis of Quality
The AI boom is straining the videogame industry on two fronts: a global memory shortage driven by hyperscale AI data centres is raising hardware prices and delaying new consoles, while studios are axing junior roles and deploying generative tools, provoking rebellions from developers and players. The outcome hinges on whether platform holders, chipmakers and consumers push back against radical automation or accept a lower‑quality, more automated future.
Meta’s AI Gamble Falters: ‘Avocado’ Delayed, Leadership Scrutinised and a Potential 20% Layoff Looms
Meta has delayed the launch of its next‑generation AI series, internal codenamed Avocado, after tests found it lagged leading rival models. The company faces potential layoffs of up to 20%, leadership scrutiny of AI boss Alexandr Wang, and strategic headwinds as competitors more rapidly translate models into user products.
China’s Consumer-Lending Shakeout: Regulation No.9 Ends the Easy Money Era for Fintechs
China’s Regulation No.9 has triggered rapid restructuring across its consumer-finance and online lending sectors, forcing layoffs, shrinking loan volumes and wiping out valuations of previously high-flying fintechs. By tightening bank oversight, banning disguised borrower fees and demanding in-house risk controls, the rule ends a long era of regulatory arbitrage and favours well-capitalised players and firms with demonstrable, end-to-end risk technology.
Layoffs, Pay Cuts and a Vanishing CEO: Xibei’s Collapse as a Cautionary Tale for China’s Restaurant Sector
Xibei, a major Chinese restaurant chain, has come under fire after management rescinded earlier promises to protect employee pay, pushed staff toward voluntary resignations with a strict deadline, imposed standby wages at local minima, and offered severance in delayed instalments. The CEO, Jia Guolong, has stepped down amid a widening trust and reputational crisis that highlights wider risks for China’s restaurant sector.
Oracle’s Big AI Buildout Forces Tough Choices: Thousands of Jobs at Risk as Cash Flow Tightens
Oracle is planning to cut thousands of jobs to ease cash‑flow pressure from a major AI data‑centre expansion led by Larry Ellison. The move underscores the high upfront costs of scaling AI compute and reflects a wider industry trade‑off between aggressive investment and cost discipline.
When AI Is the Official Reason for Layoffs: How Block’s Cut Rewrites the Job Contract
Jack Dorsey’s announcement that Block will cut nearly half its staff and explicitly attribute the move to AI represents a turning point: profitable companies can now publicly justify large-scale layoffs on automation grounds. The market’s positive reaction and similar moves by major firms suggest a structural, not cyclical, shift in employment that erodes traditional entry-level pathways and disperses accountability for job loss.
Washington Post CEO Abruptly Steps Down After Cuts That Removed a Third of Staff
The Washington Post's CEO and publisher Will Lewis left the paper immediately on February 7, with CFO Jeff D’Onofrio installed as interim publisher and CEO after the paper announced cuts of roughly one‑third of staff. The layoffs — affecting hundreds of journalists across nearly every beat — reflect wider financial pressures on legacy news organizations and could materially reduce the Post’s reporting capacity on international and specialized coverage.
ASML to Cut About 1,700 Jobs as Chipmaker Rebalances After a Boom
ASML will cut about 1,700 jobs, mostly in technical and IT management roles in the Netherlands and some in the U.S., representing roughly 4% of its workforce. The reduction appears aimed at overhead trimming and organizational realignment amid a cyclical industry and geopolitical uncertainty, rather than at production capacity.
Amazon to Cut Nearly 16,000 Jobs as it Tightens Its Belt and Repositions for AI Era
Amazon has announced nearly 16,000 job cuts as it seeks to curb costs and redeploy resources toward cloud, advertising and artificial-intelligence initiatives. The move reflects a broader industry shift from pandemic-era expansion to a focus on profitability and automation, with implications for employees, customers and competitors.