Tag: downsizing

Has FIS asked 400 Pune employees to leave?

Fidelity National Information Services (FIS), Pune, the Indian arm of the American multinational fintech firm, is on a layoff spree, to deal with redundancy....

HP to cut at least 4,000 jobs in 3 years

In an attempt to cut annual costs by about $1.4 billion, Hewlett-Packard, the computer-manufacturing company, is planning to let go about 4,000 to 6,000...

Is Zomato laying off 4% of its workforce to cut costs?

Zomato, the online food-delivery platform is reportedly set to reduce its about 3,800-strong workforce by four per cent. That means, at least a 100...

Thousands may be laid off at Meta this week

Meta, which is Facebook’s parent company, is all set to lay off thousands of employees this week. As per Wall Street Journal, a formal announcement...

33% CEOs in India have imposed a hiring freeze: Report

With the fear of recession having gripped organisations worldwide, the focus on hiring freezes has increased. In fact, 33 per cent CEOs in India...

Boeing to outsource jobs to TCS

In a virtual meeting, Boeing has conveyed to its non-unionised corporate employees that it is all set to outsource its finance and accounting jobs...

Will Ola lay off employees as part of restructuring?

Ola appears to be focussing more on non-software engineering domains, with emphasis on enhancing its capabilities in the areas of engineering, as well as...

Will Google resort to layoffs?

In a bid to make Google 20 per cent more efficient, the tech major may have to resort to job cuts. Admitting that the pace...

3M to cut costs, lay off part of safety & industrial...

Rising costs, economic slowdown and underperformance seem to be the main reasons for 3M’s decision to cut jobs. As part of cost-cutting measures, the...

Meta’s contractual workers protest, seek fair contracts

With Meta, earlier Facebook, considering downsizing, many contract workers marched in protest at the Company’s headquarters. These unionised workers are seeking fair contracts. As per...

Ford to lay off 3,000 in India, Canada, US

As part of the Company’s efforts to address costs and redeploy resources, Ford is set to reduce its team size by about 3,000. The...

900 laid off at Xiaomi amidst revenue drop

Xiaomi, the Chinese smartphone manufacturer, has laid off about 900 people, affecting about three per cent of its over-32,000-strong workforce. The reason is the...

Snapchat plans jobs cuts

Snapchat, the multimedia instant messaging app and service, is reportedly gearing up to reduce headcount. Its parent company, Snap reported losses of almost $10...

Ola starts laying off; 1,000 to be rendered jobless

Ola, the ride-hailing platform has shifted focus to its electric vehicles (EV) business and to the manufacture of lithium-ion (Li-ion) batteries. The Company has started...

Ford looking to downsize, focus on EV business

With the focus shifting to electric vehicles (EV), Ford plans to reduce headcount in the engine business. The US car manufacturer wishes to invest...

Microsoft’s ‘realignment’ exercise results in 1% reduction in headcount

That the economic environment is unfavourable is clear now, with even Microsoft downsizing. The tech major has cut 1,800 jobs as part of an endeavour...

Ola may sack 500 to cut costs

In a bid to control costs and increase efficiency, Ola, the ride-hailing company may sack at least 400 people. This downsizing is reportedly being...

Layoffs begin at Tesla

It hasn’t been long since Elon Musk, CEO, Tesla had expressed concern over the state of the economy and that a 10 per cent...

Coinbase to cut 1100 jobs

Coinbase, the global trading platform for crypto currency, has announced that it will lay off 18 per cent of its workforce, that is, about...

FarEye asks 250 employees to leave

FarEye, the SaaS-based logistics startup, which had a 750-strong workforce, has let go 250 employees across its offices in India, North America and Europe...

145 jobs cut at FrontRow

FrontRow, the edtech startup, has laid off about 145 members of its team, that is, 30 per cent of its workforce. Maximum employees were...

Nokia to slash 10,000 jobs

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...

Rabobank to slash 5,000 jobs by 2025

Many banks across the world have resorted to layoffs following the pandemic-induced slump last year. Robobank is also planning to reduce its team size...

Boeing to make workforce lean, lay off 600 employees

As part of Boeing’s efforts to ensure efficiency by operating as a leaner and more streamlined organisation, The Company will will begin outsourcing information technology...

Employees continue to lose jobs worldwide

In Melville, US, the Newsday Media Group is all set to layoff a significant number of employees in the IT, advertising, marketing, security and...

Danone to undergo structural reorganisation, cut 2000 jobs

Danone SA, has decided to slash 2000 jobs, as a part of its structural reorganisation plans and cost-cutting measures. The French food company is expected...

5,000 more may be laid off at Thyssenkrupp

Following huge losses, of up to €1.6 billion ($ 1.9 billion), the German multinational, Thyssenkrupp, is considering laying off 5,000 more people from its...

Layoffs at ING, Nike & ESPN

Dutch bank, ING, will lay off 1000 employees by 2021 and shut its offices in South America and Asia. Nike also revealed its intention...

Exxon Mobil to slash 1,900 jobs in the US, 14,000 globally

Amidst the drop in demand and pandemic-induced crisis, Exxon Mobil is planning to let go one fourth of its workforce in the US. This...

50,000 jobs may be slashed at Wells Fargo

Social media posts indicate that the dreaded layoffs have begun at Wells Fargo. The impact will be felt across all departments, business lines and...

Cathay Pacific to slash 24% of its workforce

Cathay Pacific Airways announced the slashing of 5,900 jobs in Hong Kong and the ending of Cathay Dragon, its regional brand, amidst the ongoing...

Finnair to cut 700 jobs

With the aviation sector struggling to recover from the slump in business, Finland's national carrier, Finnair is now gearing to slash about 700 jobs,...

Shell to slash 9,000 jobs, shift to low-carbon energy

Royal Dutch Shell is set to slash about 7,000 to 9,000 jobs by 2022, that is more than 10 per cent of its workforce,...

Singapore Airlines pilots prefer 60% pay cut to job loss

Pilots of Singapore Airlines are willing to take further pay cuts to remain employed. On September 18, an agreement was reached between Singapore Airlines...

“No layoffs post merger of OBC, UBI and PNB,” assures MD...

SS Mallikarjuna Rao, MD and CEO, Punjab National Bank (PNB), has assured the employees that no jobs will be slashed following the merger of...

Downsizing in manufacturing is not rightsizing, but just a temporary strategy

There have been a few unusual realisations for every organisation during these past few months. For the manufacturing sector— across apparel, paint, auto and...

Survivor’s guilt: What those who escape the axe feel after layoff

These past few months have been witness to multiple layoffs across companies, in various sectors. The remaining lot feel relieved, yes, but they also...

KPMG to lay off 200 in Britain amidst dip in demand

Multinational professional services firm, KPMG, will be slashing about 200 jobs in Britain amidst unprecedented fall in demand for professional services, due to the...

Lufthansa to slash 22,000 jobs, strikes bailout deal with German govt

Lufthansa announced its intention to lay off about 22,000 full-time employees, as it sees no hope of demand for travel recovering any time soon,...

2nd round of job cuts at Uber, 45 offices to close...

Only about a week back, Uber had made headlines for the manner in which it had asked about 3,700 employees to leave, over multiple...

750 jobs to be slashed at Apollo Tyres plant, in the...

Apollo Tyres is planning to slash about 750 jobs at its plant in the Netherlands, by 2022. The job cuts are aimed at ensuring...

Telenor to cut 15% more jobs by 2023

Over the last four to five years, telecom company, Telenor, has cut 22 per cent of jobs, in addition to acquisitions and divestment. Now,...

Expedia to lay off 3,000

Online travel company, Expedia, will slash about 3,000 jobs worldwide following unsatisfactory performance last year. The Company’s websites are mainly travel aggregators and search...

How Oyo benchmarked its exit process

The term ‘layoff’ finds its way into newspapers and headlines quite often these days. A humane approach to the exercise is becoming a hot...

South African Airways in a hurry to cut jobs and reduce...

South African Airways (SAA) is planning to decrease its wage bill by cutting jobs as soon as possible. The state-owned airline had revealed in...

OYO to cut 500 jobs in India

Hospitality company, OYO, is planning to cut down its workforce in India by 500. Employees in the partner-facing experience and business development teams will...

Tata Motors puts rumours of layoff to rest

Despite the economic slowdown and the volatile market, Tata Motors has quashed rumours of downsizing. In fact, the Company is very optimistic about the...

Infosys to layoff at least about 12000

Infosys is reportedly planning to lay off about 2,200 senior managers, that is, those belonging to the job level 6, as well as about...

HP India to slash 7000 – 9000 jobs globally in 3...

Multinational information technology company, Hewlett-Packard (HP), is expected to lay off 500 employees in India. The Company is gearing up to restructure globally and...

HSBC expected to lay off about 10,000 jobs

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....

Job cuts at CNN, affected staff to be informed soon

A ‘gut punch’ is what Chris Licht, CEO, CNN rightly described the announcement of layoff plans as. Licht recently sent a memo to the...

Latest

Meghalaya cabinet approves mental health policy

To address the rising issues of mental health and social care, the Meghalaya cabinet approved a policy on 30 November through collaborative engagement with...

Dentsu India ropes in Unmesh Pawar as CPO

Denstu has appointed Unmesh Pawar as the new chief people officer for India and South Asia. Before Pawar, Rohit Suri who moved on to...

Domestic workers in India and minimum wage

In India, there is no dearth of incidents pertaining to exploitation of domestic helps. However, things seem to be moving in the right direction,...

Jayadeva EP takes additional charge as director- HR, HAL

Alok Verma, director - HR, Hindustan Aeronautics (HAL), has superannuated on 30 November, and therefore, ceased to be a director of the company board....

DIALOGUE

EQ, IQ & empathy define the success of a CEO

Q. You spent 16 years at LIC before moving to a corporate role at ICICI Prudential. Now, 22 years on, I am still curious...

“The big change has been that we have moved from jobs to skills,” Amaresh...

Q. How would you define the culture at GE? A. Having been present in this region since 1902, GE has been around for 120 years....

“Being good to everyone is being unjust to performers,” Mathew Job, CEO, Crompton

Q. In today’s times, what’s more challenging for a CEO like you — profit & business growth, talent & people, diversification, compliance or managing...