Latest Workforce Reduction News

Prophecy International has launched a sweeping global organisational restructure that will slash its workforce by approximately 48%, aiming to realign operations and reduce costs ahead of its FY26 results.

Kingston Resources stops mining at Pearse South after a second geotechnical failure, pivoting to a major underground drilling program and launching a $11.6 million capital raise to underpin a long-term expansion at Mineral Hill.

oOh!media posts solid early 2026 revenue growth and launches a $12 million annual savings program, while exiting retail media and navigating takeover bids.

Block, Inc. reported a robust Q1 2026 with AI-powered productivity gains, strong Cash App and Square growth, and a $5 billion share buyback boost. Despite a GAAP net loss due to restructuring and legal costs, the fintech giant raised its full-year outlook, signaling confidence in its AI-led transformation.

Proteomics International Laboratories (ASX:PIQ) has denied any undisclosed material information following a sharp share price drop and heightened trading activity, pointing instead to recent strategic updates and organisational changes.

BSA Limited recorded a break-even Q3 FY2026 as revenue and EBITDA fell sharply year-to-date due to lost contracts, but the company maintains a solid cash buffer to fund its transition.

Adslot Ltd achieved positive net operating cash flow in Q3 FY26 while trimming its workforce by nearly a third to sharpen focus on its Symphony and Webfirm units. The company is navigating declining marketplace revenues and preparing for a key contract renewal with Group M.

Proteomics International Laboratories has slashed a quarter of its workforce and appointed a new CFO amid a strategic pivot to commercial diagnostics, aiming to save over $1 million annually and sharpen execution.

Frontier Digital Ventures reported a sharp 18% revenue decline in FY2025 due to shedding low-margin businesses, yet achieved a remarkable 205% jump in EBITDA, signalling a successful pivot to core classifieds in emerging markets.

Genetic Signatures is undertaking a major organisational restructure to cut costs by $5 million and sharpen its commercial focus, aiming to accelerate growth in its diagnostic product offerings.

Block, Inc. reported robust financial results for 2025, driven by Cash App and Square growth, while announcing a significant workforce reduction to accelerate AI-driven innovation and efficiency.

MGX Resources reported a $20.8 million half-year loss, driven by a major rockfall at Koolan Island that halted mining and triggered a $60 million asset impairment. The company is pivoting towards gold with its recent acquisition of a 50% stake in the Central Tanami Project.