Tag: downsizing

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.

How personalised & curated digital learning is the recipe for successful...

Personalised and curated digital learning can help create time-efficient, relevant and targeted corporate training programmes. In an evolving business landscape, learning and development (L&D) and...

Make mental health a part of your return-to-work plan

While people typically tend to resent change, the past year and a half has been fraught with changes and challenges, which were unavoidable. We...

Competing with Self

Job seekers can stay in Germany for 6 months to hunt...

The job-seeker visa for the Country is a long-term residency permit, which allows applicants six months to hunt for a job, and grants them...

Latest

What’s in Piaggio’s robust leadership development programme?

At Piaggio, there is a culture to identify the best of talent at a very young stage and provide them the platform to grow...

Smallcase offers remote work, flexitime, WFH allowance to staff

Employees of smallcase, the capital markets-focused fintech startup, will now enjoy more flexibility and work-life balance. Keeping the best interest of its employees in...

Indian job portal, apna.co, bags funding of $100 mn

Indian jobs platform and professional network, apna, has secured about $100 million in a series C funding led by Tiger Global. This takes apna’s...

Make mental health a part of your return-to-work plan

While people typically tend to resent change, the past year and a half has been fraught with changes and challenges, which were unavoidable. We...

DIALOGUE

“If CEO is the father of an organisation, CHRO is the mother,” Pankaj Lochan

Q. You have been shuttling between HR and manufacturing roles. Was it a well-thought out strategy or did you just go with the flow...

Binding multi-faceted employees with Titan Values

Titan has different sets of employees for different functions and verticals, ranging from the shopfloor to the retail stores. How do you bring in...

The right people policy for startups – Madan Nagaldinne

You happen to have worked mostly with large organisations. How different is it working for a startup now? When you have worked for big...