SWFI Daily Layoffs Briefing, August 19, 2022
Posted on 08/19/2022
1. COMPASS. Real estate brokerage company Compass is planning for more layoffs by the end of September 2022. Impacted jobs are expected to be on roles outside of the regional operations team and not at agents. In the second quarter of 2022, Compass lost US$ 101 million and almost US$ 300 million in the first half of 2022.
2. NEW RELIC INC. Software-platform company New Relic Inc. disclosed that its board of directors agreed to reduce its employee base. New Relic plans to have charges of about US$ 8.3 million to US$ 9.3 million for employee terminations and other costs associated with the restructuring plan.
3. Bath & Body Works Inc. disclosed they had removed 130 jobs (most were corporate leadership positions).
4. Cryptocurrency brokerage Genesis said that CEO Michael Moro is stepping down and the company is slashing 20% of its workforce. Genesis’ chief operating officer Derar Islim will take over as CEO. Genesis is a unit of Digital Currency Group.
