Layoff spree continues

Citigroup, General Motors, Alphabet's Waymo, Yellow.ai, and Thoughtworks are the latest to join the list of companies to fire employees this year.

Layoffs on Wall Street

Citigroup is cutting less than 1% of its workforce. Affected divisions include investment banking, mortgage, and operations and technology.

Automotive sector

General Motors is firing about 500 employees to cut costs and streamline operations. The company plans to reduce costs by $2 billion.

Layoffs at tech firms

Waymo has cut 8% of its workforce, while Yellow.ai has laid off 15%. Thoughtworks is cutting 4% of its workforce or around 500 employees.

Cuts for survival

Layoffs are often seen as a last resort, but in some cases, they are necessary to ensure the long-term viability of a company.