Layoffs

Gap has a goal of saving $300 million a year amid struggles.

Disney Entertainment, home to the company's non-sports-related film and TV businesses, is a focus of the reductions.

Tech companies have accounted for about a third of the announced layoffs so far this year.

The Detroit automaker will offer the workers lump sum payments and other compensation based on tenure.

Reemployment services improve a company's reputation and potentially save money on unemployment costs.

Potentially affected workers haven't yet been told if they will lose their jobs.

With a chronic shortage of tech workers, hundreds of open roles and extra money from Congress in last year's budget, the U.S. Department of Veterans Affairs agency is keen to seize the opportunity from recent Silicon Valley layoffs.

The company said that while reductions will happen across the company, its recruiting team will be disproportionately affected and its business teams would be restructured.

Musk plans to eliminate half of Twitter's workforce to slash costs at the social media platform he acquired for $44 billion last month.

The stock hit an all-time high in January 2021 — sending its market value near $50 billion — after stuck-at-home consumers flooded the company with orders.