Layoff tsunami: KPMG, Rolls-Royce, and others to layoff 4000 workers

Layoff tsunami continues to affect employees. Mass layoffs have also become common these days. Various companies have laid off thousands of employees in major cost-cutting measures.

The large-scale workforce reductions are aimed at reducing costs and restructuring for future growth. Which are the latest companies to fire workers? How many employees are impacted by the latest round of layoff? 

Layoff tsunami

KPMG layoff

KPMG, a multinational company, is set to lay off around 6% of deal advisory employees. KPMG has planned to lay off 100 employees in its deal advisory business in the United Kingdom. KPMG, one of the Big Four accounting firms, will lay off employees in response to the prevailing global economic conditions. 

Rolls-Royce layoff

Rolls-Royce, an aero-engine manufacturing company, is set to lay off 2,500 employees. Tufan Erginbilgic, CEO of Rolls-Royce, will affect 2,500 positions at Rolls-Royce Holdings Plc. The job reductions will target 6% of the global staff.

LinkedIn layoff

LinkedIn is set to layoff 668 workers across various departments. Around 668 workers across the company’s engineering, product, talent and finance teams will be impacted by layoff. Around 368 workers will be laid off from the Engineering team, while 38 workers will be laid off from the Product team.

Stack Overflow layoff

Stack Overflow, founded by Jeff Atwood and Joel Spolsky in 2008, is set to lay off 100 workers. The company has announced the decision to lay off 28% of its workforce. Stack Overflow’s CEO, Prashanth Chandrasekar, reportedly said, “Changes have been pursued through the lens of minimizing the impact on the lives of Stackers. Unfortunately, those changes were not enough and we have made the extremely difficult decision to reduce the company’s headcount by approximately 28%.”

Citigroup layoff

Citigroup, an American multinational investment bank and financial services company, has fired 2,000 employees in the third quarter (Q3). The company has also planned to reduce 30 investment banking jobs and 20 corporate jobs at its London unit.

Coal India layoff

Coal India is set to lay off more than 70,000 workers by 2050. The layoffs can impact workers in rural areas. Over the last six years, many employees were laid off from Coal India. The coal industry in India can lay off nearly 100 workers per day by 2035.