According to a TOI report, the company’s CEO says the layoffs are not aimed at cost cutting. He expects the company to rehire the same number of employees, mainly in the engineering, product and sales divisions.
In a letter to employees, Goodarji has said that the more than 1,000 employees who are being laid off are ‘not meeting expectations.’ It is believed that the company will close its two sites in Edmonton, Canada and Boise, Idaho.
The CEO’s letter also said that 300 positions are being eliminated to improve work efficiency. As part of the layoff plan, 80 technology roles are being consolidated in Atlanta, Bangalore, Tel Aviv and other locations.
In recent years, the world’s top companies have done layoffs. From Google to Microsoft and Paytm, everyone has done layoffs. A report in May said that Paytm’s owner One 97 Communications Limited may again cut jobs. The reason for this is none other than AI (Artificial Intelligence).
