Layoffs
Paramount Skydance launches major layoffs across TV divisions
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Paramount Skydance has initiated a round of approximately 1,000 layoffs on October 29, 2025, targeting redundancies and roles misaligned with new priorities following its merger with Skydance. The cuts affect CBS News, CBS Entertainment, Paramount+, MTV, and other units, with another 1,000 jobs expected soon, reducing the workforce by about 10%. CEO David Ellison described the moves as necessary for long-term success in a memo to employees.
Salesforce and Oracle Announce Layoffs
Salesforce and Oracle conducted layoffs affecting thousands of employees. The cuts are linked to AI-driven automation initiatives. Both companies are investing heavily in AI despite the workforce reductions.
Polestar lays off 100 engineers in Gothenburg
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Polestar announces layoffs of 100 engineers in Gothenburg. The reason is that the new electric car will be built on Volvo's platform. This is viewed as a short-term win for Volvo but a potential loss of influence in the long term.
Red Hat Executes Global Layoffs
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Red Hat, the open-source subsidiary of IBM, has begun implementing global layoffs as part of its strategic shift toward AI and cloud technologies. The move aims to realign resources amid economic pressures and focus on hybrid cloud and automation. This follows earlier announcements and contributes to broader tech industry job reductions.
Massive Layoffs in Tech Industry
Major tech companies announced widespread layoffs, affecting thousands of employees amid cost-cutting measures. The moves are part of a broader industry shift. Workers are facing uncertainty as the sector adjusts to economic pressures.