Tag: Cost Cutting

In the wake of slowdown in growth and loss of subscribers, Netflix, the global streaming giant, is laying off 150 employees. These employees constitute...

Unacademy, the Indian edtech startup, has let go of about 600 employees from its almost 6,000-strong team — about 10 per cent of its...

Last week, Nokia, the Finnish telecom equipment manufacturer, had revealed plans to downsize its workforce by about 10,000 over a period of two years....

Nokia, the Finnish telecom equipment manufacturer, is all set to get rid of per cent of its workforce. That means, about 10,000 employees will...

Jaguar Land Rover is all set to shrink its global workforce by about 2,000 as part of a cost-cutting exercise. Employees have already been...

As part of a restructuring exercise, HSBC will shut down 82 branches across Britain, during April to September 2021. This will also involve slashing...

Ronojoy Dutta, CEO, IndiGo, in a letter to his employees, announced the decision to give paid leave to all employees from January 1, 2021...

As part of cost-cutting measures, ABN Amro plans to lay off about 15 per cent of its workforce. This means, about 2,800 people will...

Amidst the current economic slump and pandemic-induced recession, businesses are under pressure to cut costs and also boost morale across the organsiation, without compromising...

The COVID pandemic has impacted the sports, leisure and entertainment sectors deeply. The latest to feel the impact is Arsenal, the London-based professional football...

Raymond Group, the Indian branded fabric and fashion retail company, is slashing jobs as part of its cost-cutting strategy. The Company, which is amongst...

Hospitality company, Oyo, has allowed its employees to follow a combination of ‘work from home’ and ‘work from flexible co-working spaces’. It is mainly...

Hyderabad-based airline, Trujet, has decided to cut 50 per cent of its employees’ salaries. The decision has been conveyed to the employees via an...

About 600 permanent employees of Air India, are to be offered a ‘leave without pay (LWP)’ scheme for a period of six months to...

Vistara, the Indian full-service airline will impose a pay cut of five to 20 per cent from July 1 to December 31, 2020, for...

Tata Motors is planning to lay off 1,100 temporary employees at its luxury Jaguar Land Rover (JLR) unit, in pursuit of a target of...

Wipro will be putting a stop to the hiring process for this financial year. It will instead focus on utilising the current staff effectively...

With the COVID-19 pandemic affecting earnings of airlines the world over, GoAir announced that its staff will be taking pay cuts this month. Last...

Daimler is cutting costs with greater intensity now, and is reportedly planning to lay off about 15000 employees. In November last year, the German...

Following a huge drop in profits last year, Swiss private bank, Julius Baer (JB), is now planning to cut 300 jobs in 2020. The...

With economic growth being extremely slow in the United Arab Emirates (UAE), particularly in Dubai, the Dubai Islamic Bank (DIB) is expected to let...

Jaguar Land Rover (JLR), owned by Tata Motors, will be laying off about 500 employees—10 per cent of the workforce— at its factory in...

OYO Hotels and Homes is planning to increase the number of job cuts to 2000, that is, about 1500 more than what was planned...

Following layoffs announced by Infosys and Cognizant, it is predicted that most big information technology (IT) companies in the country will be reducing their...

As part of the rescue plan to revive Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) the Governemnt has decided to merge the...

HSBC, the British multinational investment bank and financial services holding company, may lay off about 10,000 employees in a major step towards cutting costs....

A few hundred employees can expect to lose their jobs at Wells Fargo’s development centres in Hyderabad, Bengaluru and Chennai. The American banking and...

It is reported that in a bid to cut costs, the employees of Ashok Leyland have been offered certain separation schemes. The packages are...

Information technology company, Cognizant, is taking measures to cut down on expenses. Not only will the company slow down hiring, but it will also...

American multinational IT services company, Cognizant, is reportedly planning to increase the variable component of its employees’ pay package. This will help the Company...

In an attempt to cut costs and tackle the slowdown that has hit the automobile industry, Maruti Suzuki India has laid off more than...

Ride-hailing company, Uber, is reducing its 1200 strong global marketing team by 400, in order to bring down costs and do away with overlapping...

Walmart, the American multinational retail company, is expected to lay off about 40 per cent of its senior pharmacists and also some new recruits...

Reliance Jio, the Indian mobile network operator, has laid off about 4500 to 5000 employees, of which about 500 are permanent employees and the...

A cost-cutting drive at US-based IT company, Cognizant, did not stop its senior executives from getting double-digit hikes in salary last year. Former CEO of...

Reliance Jio plans massive hiring; Idea cuts down employee cost at the dawn of merger with Vodafone.