Tag: downsizing

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....

Indian handsets sector rendered 250,000 jobless in two years

With several thousands of small phone-retailing shops shutting down, about 15 per cent of the workforce in the handsets segment of India has been...

HTC to downsize Taiwan office, slash 1500 jobs

The move will help realign the Company’s resources and facilitate operational flexibility.

Huawei downsizes India workforce by 30 per cent

Following the layoff, Huawei’s team strength in India has reduced to 8000. 

NDTV to downsize by 25%

The Company had laid off 100 employees earlier in July. 

LeEco India looks to rightsizing its workforce

The company is apparently looking at controlling costs and revamping its strategies.

Standard Chartered to trim workforce by 10 per cent

As part of cost cutting, the organisation is planning to lay off a tenth of its global workforce beginning with Singapore and Hong Kong.

 

PharmEasy to double its employee base in six months

The company plans to expand its talent pool to 500 from a current strength of 200, which is further expected to grow ten times over the next two years.

When layoffs become inevitable: The painful story

Loss of job is undoubtedly an emotional time when people feel alone, scared and vulnerable. It is important for an employer to smoothen the termination process, show compassion and empathy and re-instate trust. The employees must see the decision as a necessity for business rather than a witch hunt!

How to leverage employee loyalty during lean period

Downsizing may seem to be productive in the short term, but it fails to give sustainable benefits in the long run.

Why a coaching culture and not any other culture?

“Would you tell me, please, which way I ought to go from here?” “That depends a good deal on where you want to get to,”...

Latest

Loneliness at workplace: Increasingly becoming fatal

Loneliness at the workplace is so rampant across organisations that it has started affecting the bottom line. An analysis by Cigna in 2020, suggests...

How the millennials at MTR Foods are enjoying global exposure

Across organisations, it is the millennials who will be seen coming forward to take up leadership roles in the future. Therefore, engaging this younger...

Pay salaries on 5th of the month: HC tells KSRTC

On 21 June, the Kerala High Court ordered that the salaries of the employees of the Kerala State Road Transport Corporation (KSRTC) should be...

How Max Life Insurance is bridging the generational gap in staff

In India, most discussions and initiatives pertaining to diversity always boils down to gender diversity. However, ‘diversity’ is not just restricted to gender alone,...

DIALOGUE

“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...

“A CEO needs to acknowledge the silent majority who create the company’s fortunes” S...

Q. RPG is a diversified group with businesses spread across sectors and domains. however, its brands have a strong individual identity unlike other business...