#workforce-reduction

#workforce-reduction

Opendoor, which buys and sells homes, is currently making waves as the latest meme stock beloved by retail traders. The stock got another boost on Thursday when the company announced cofounders Rabois and Eric Wu were rejoining the board and that Kaz Nejatian, COO of Shopify, was appointed CEO. At market close on Friday, the stock was up 470% year-to-date.

The Danish pharmaceutical company Novo Nordisk, the maker of GLP-1 for diabetes and obesity, announced it is reducing its workforce globally by 9,000 people by the end of 2026. A company spokesperson declined to provide specific figures for the Boston operations, stating that "this is a global transformation," and Novo Nordisk sites will each be impacted differently. The company has not yet finalized its plans for Boston.

We have now done about a million and a half conversations with our customers (through the agentic layer) and at the same time ... a million and half conversations also happened through our support agents during that same period. The SEASAT scores were about the same, which was stunning and also I was able to rebalance my headcount on my support - I've reduced it from 9,000 heads to about 5,000 because I need less heads.

"It's been eight of the most exciting months of my career," Benioff said. "I was able to rebalance my head count on my support," he said. "I've reduced it from 9,000 heads to about 5,000 because I need less heads."

The filing contains requests for approval sent to the Office of Personnel Management in March and April, signaling the scale of proposed reductions in force.

Recruit Holdings Co., Ltd. will reduce its workforce by approximately 1,300 positions, representing about 6% of the HR Technology segment's total staff in a reorganization effort.

The General Services Administration's agency has been key to Trump 2.0's agenda, managing government procurement, technology, and real estate.

The Trump administration issued reduction-in-force notices to roughly one-third of the workforce in March, but in May a federal judge in Massachusetts issued an injunction after finding the cuts made it "effectively impossible" for Education to carry out its legally required responsibilities.

Recruit Holdings is laying off 1,300 employees in its HR Technology segment due to the shift towards artificial intelligence, affecting about 6% of jobs.

Despite cutting over 10% of its workforce due to market cooling and legal costs, McKinsey plans to hire thousands of new consultants, aiming for growth.

Desmond stated, "This was a necessary decision as we continue to transition nCino into a high-performing business focused on long-term, sustainable growth."

"Under normal circumstances and as our history shows, the dynamism of our business typically allows us to move our highly skilled talent quickly to new opportunities. But at a time when procurements are moving much slower than normal, this has been challenging."

We've always known this journey would be demanding. Today, we find ourselves navigating a challenging time that necessitates adjustments as we strive for success.

The IRS has lost over 20% of its workforce since Trump took office, undermining Biden's hiring efforts and resulting in imminent layoffs.