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Now, those employees are striking back at the company, and have filed a federal lawsuit claiming that the firm failed to obey a law requiring workers advanced notice of mass layoffs. fisker automotive cleantech auto hybrid automobile legal lawsuit employment jobs layoff' The company reportedly did not provide any severance pay.
Initial news of the cuts, which were made in the last couple of days, came through recruiters and others close to the company. Citygrid did not respond to emails for comment yesterday from socalTECH, however, TechCrunch is placing the size of the cuts at 15 percent of the company. READ MORE>>.
If you’re a very early stage startup that just raised your first angel money it is very possible that the funding announcement will be your first big tech news. I’m ok with announcing straight away or waiting until you have product or team confidence to release the news. Should I Bundle it With More Juicy News?
News of the layoffs first hit began circulating right before noon. Los Angeles-based BeachMint , the online e-commerce and celebrity startup, has quietly let go of some staff this Friday, in what an insider called a "slight trim" of the firm's employee base.
The layoffs--first reported by PlugInCars--apprently included a "substantial part" of its sales and marketing staff. The layoffs impact approximately 15 percent of Coda's workforce. The layoffs apparently come as the company has sold less than 100 of its automobiles since launching in March, according to the report.
News of the layoffs first trickled out via Twitter from many of the firm's former employees. High flying, YouTube network Machinima has laid off 10 percent of its staff, as part of a reorganization, according to reports Friday evening.
Usually, when a company is acquired, it''s great news for investors--and employees. amylin pharmaceuticals diego biotech lifescienec employee jobs layoff' The move was first reported by the U-T San Diego. Amylin Pharmaceuticals as a developer of diabetes drugs. READ MORE>>.
Electronics Arts is shutting down Los Angeles-based Pandemic Studios , according to an internal note leaked to gaming news site Kotaku. Tags: electronic arts games content pandemic shutdown layoff. According to the note, Electronic Arts has laid off around 200 employees, and transitioned the rest to Electronic Arts' Los Angeles office.
The move was originally reported by The Daily News. The DailY News reports that the family laid off around 50 people at the Chatsworth plant as a result of the shutdown, as the company has "mothballed" its operations. boulder electric vehicles shutdown angeles cleantech truck auto transportation layoff'
Agoura Hills-based THQ , the embattled videogame maker, is finally seeing some good news, reporting today that it is expecting to report non-GAAP net sales of $160 million to $170 million, above its previous outlook of $130 million to $150 million.
He started the call by telling me he had exciting news. He was about to be featured in a major US news magazine as one of their “hot&# picks. A positive news story means NOTHING about the core performance of your business. I’d love to do a 30 minute call just to update you on our exciting news.&#.
The on-demand scooter company said it laid off 30% of its staff, saying "Layoffs are never easy or comfortable to do" and saying that the layoffs were done as a result of the COVID-19 pandemic. My friend just got laid off along with 400 other employees by dialing into a pre-recorded Zoom message.
The layoffs occurred yesterday, when employees were notified of the move. The news was first reported by Paidcontent. Veoh said that the firm, although doing well financially, could not predict how soft the online advertising market will become, given the economic challenges of today. READ MORE>>
But that good news will not help you if you run out of money during the time it takes for these to happen. Do you still need marketing costs when there is no-one out there buying new product? Raising money during this crisis will be almost impossible, even from friends and family shocked by the stock market declines.
Agoura Hills-based THQ , a developer and publisher of video games, said Wednesday that it is making "additional cost reduction actions" which includes the layoff of approximately 600 people, or 24 percent of the company's workforce. Tags: employment jobs layoff video content game. READ MORE>>.
The WSJ reports that News Corp's Fox Interactive Media division laid off about 5 percent of its work force, or about 100 people. Tags: jobs layoff interactive myspace media.
The news that tech companies are reneging on job offers is worrying – it’s such a damaging thing to be made public in the context of future recruitment, and the ‘whiplash’ – going from rapid hiring to rescinding offers in a short time, is extremely uncommon. Get all the latest tech news straight to your inbox.
A new survey of over 4,000 laid-off tech workers has revealed that a remarkably large proportion start their own businesses shortly after being made redundant. Out of the 4,188 respondents to Clarify Capital’s 2022 survey , 1,007 had started their own company post-layoff, PC Mag reports. Survey Says: Go Your Own Way.
Overnight, just about every company went into a hiring freeze and massive layoffs dominated the news. In just over eighteen months, we were on track to double in size. Then along came September 11th. Not a good time to be in the recruitment business.
Santa Monica-based Mahalo, the search and news site run by Jason Calacanis, has cut 10 percent of the firm's staff, Calacanis said in a post on his blog Wednesday. Mahalo is venture backed by Burda Digital Ventures, CBS, News Corp., and Sequoia Capital, and provides human-edited search pages and news summaries. READ MORE>>
Fisker has faced a string of bad news, most recently the departure of co-founder Henrik Fisker earlier this month. Reuters said that Fisker has not made an automobile since last July, since issues with its battery supplier--now defunct A123 Systems--forced the firm to suspend production.
We are learning to use new tools. ChatGBT and Bing AI are just two of the new tools that are already changing our lives. It won’t be long before another round of layoffs comes, and these new tools will create new jobs to fill the gap.
Santa Monica-based Mahalo , the online human-curated news and search site headed by Jason Calacanis, has cut 10 percent of its staff, according to reports. According to a report by CenterNetworks, the changes were a reaction to the search algorithm and quality changes made by Google last week.
The good news is that recent big company financial woes and layoffs have generated a flood of candidates with real experience seeking positions at startups. The bad news is that many of these frustrated employees may have already reached their level of incompetence ( The Peter Principle ).
Hollywood-based, music-related blog and content firm Buzznet has reportedly cut employees, according to a report from Digital Music News. According to the publication, citing a representative of the firm, Buzznet has eliminated 10 employees, from a total of 89 staff. This publication has not yet confirmed the cuts with the firm.
Josh Stomel: We're seeing more and more layoffs every day. The good news, is a product like ResumeBucket actually grows in this economy. So, we've recently started encouraging users of ResumeBucket to remove their name and their personal contact info from their resume, and instead force users to use the contact form on the page.
Then look ahead to assess the likelihood that your job could be eliminated with new technology, artificial intelligence, or robots. The good news is that this exercise, if done well, will be the best evidence to support your next raise request, as well as showing your readiness for the new gig economy.
In our Friday Southern California technology news roundup: The economy continues to be in the news this week, as Broadcom is cutting 200 employees as it sees a glum Q1. TheWrap --focused on Hollywood and entertainment news-- announced funding from Maveron on Monday. Tags: california tech technology high southern news.
Seal Beach-based photovoltaic power firm Amonix has shut its Las Vegas factory, according to a report from the Los Angeles Review-Journal, some further bad news for the heavily backed solar panel manufacturer. The firm has had a series of layoffs since then. Amonix--which had raised $129.4M
If there is no closer connection to the corporation, when times are tough for any reason, it is these employees that make it tough for management to gain understanding and consent for actions that must be made such as missing payrolls, making layoffs, or abandoning pre-announced plans.
If there is no closer connection to the corporation, when times are tough for any reason, it is these employees that make it tough for management to gain understanding and consent for actions that must be made such as missing payrolls, making layoffs, or abandoning pre-announced plans. Simple building blocks for difficult times.
Familiar biotech names—not necessarily familiar for the right reasons—made news this week in biotech. —News for a group of slumping East Coast biotechs: Christoph Westphal and former Genzyme CEO Henri Termeer both stepped down from the board of Cambridge-based Verastem (NASDAQ: VSTM ), whose shares are worth just over $1.30
And then the news flowed, from a fast reprieve for Juno Therapeutics to no mercy for Elizabeth Holmes. —Enough good trial news. —In other Merck news, U.K.-based —South San Francisco-based Second Genome hired a new CEO and president. The week started on a reflective note. —With $1.25
—Merrimack Pharmaceuticals (NASDAQ: MACK ) announced layoffs of 22 percent of its staff and the resignation of CEO Robert Mulroy. CLINICAL NEWS. . —Ra Pharma filed for an IPO , looking for more cash as it prepares to take on rare disease drug developer Alexion Pharmaceuticals (NASDAQ: ALXN ).
There was plenty more biomedical news this week, from a downsized IPO to downsizing companies, while ugly sexual harassment details emerged in Seattle. If you want a roundup of the week’s biotech’s news, read on. Analysts wondered if the Tesaro news would push Medivation’s acquisition price higher.
For one new kind of cholesterol drug, insurers and their agents have tried the “just say no” strategy: refusing to pay what they deem high prices until the drug makers produce broad (and expensive) evidence that the drugs save lives. Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.
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