Tag: Job Cuts

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...

Caixabank, which had initially planned to lay off about 8,291 earlier this year, agreed to reduce the number to 6,452 following discussions with unions...

Deutsche Bank presently has about 600 senior executives, with only about 24 per cent of them being women. Now, the German lender, is aiming...

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...

About 400 jobs will be slashed at Deutsche Bank in Germany. This is part of the Bank’s restructuring plan that had begun in 2019...

Philippine Airlines, which is owned by billionaire Lucio Tan, will slash 2,300 jobs within two months. That means, one-third of its workforce will have...

Standard Chartered will cut more jobs as part of its ongoing restructuring process. This time, more employees at the junior level are expected to...

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

Coca-Cola Company, the American multinational beverage firm, is set to reduce its global workforce by 2,200. In the US itself, it will let go...

Deutsche Bank is deliberating moving from its bigger office in Wall Street, New York to a smaller office in Time Warner Centre near Central...

Debenhams, the 242-year old British clothing retailer, with department stores in Denmark and the UK, is gearing to shut down its stores in Britain....

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...

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...

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

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,...

Accenture, the multinational professional services company is reducing its workforce in the UK by about eight per cent. That means, about 700 to 900...

Qantas Airways, Australia’s largest airline, intends to raise close to A$1.9 billion ($1.3 billion) and slash at least 6,000 jobs, as part of its...

American multinational telecommunications company, AT&T is considering laying off more than 3,400 technicians and clerks in the US. The American wireless carrier has shared...

Capita, London-based international business process outsourcing and professional services company, is planning to lay off about 200 employees, as per media reports. The Company, which...

Around 1000 frontline workers at one of India’s oldest retail chain, Shoppers Stop, have lost their jobs to the covid-19 pandemic. As is the...

Businesses across all sectors have had a tough time this year, with only a few of them beginning to get back on their feet....

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,...

Edelman, the American public relations and marketing consultancy firm, has announced job cuts. It will be laying of about seven per cent of its...

ZF Friedrichshafen, the German company that manufactures auto components, will be slashing about 15,000 jobs over a period of five years, and most of...

International Business Machines (IBM) has reportedly laid off thousands of employees across the US, irrespective of age, tenure and seniority. While the exact number...

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...

With the pandemic and related restrictions imposed by nations across the world, the demand for app-based rides fell drastically over the last couple of...

Ryanair, the Irish budget airline, is planning to slash 3,000 jobs, as it does not see demand picking up before 2022. It is also...

OYO has officially announced that while the Company will go ahead with furloughs and temporary leaves in the US and some other markets, no...

As part of measures to check the spread of coronavirus, Nepal has stopped issuing visas on arrival to tourists, irrespective of the country they...

Tata Steel is considering slashing about 1200 jobs in Europe in a bid to increase profits. The steel manufacturing company, which has about 20,000...

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

With macroeconomic pressure mounting and the coronavirus scare also affecting sales, Cisco Systems is set to slash jobs in yet another round of layoffs....

In an attempt to keep up with customers shifting online, and implement cost-cutting measures, Lloyds Banking Group and Virgin Money are going to downsize. While...

Europe’s largest bank, HSBC, has reported a 33 per cent fall in 2019 pre-tax profit, to $13.35 billion after it took goodwill impairment of...

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

Tata Steel, the Indian multinational steel manufacturing company, is all set to strengthen its European business and increase profits. In the process, it plans...

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...

HSBC Holdings is planning another round of layoffs, wherein hundreds of its employees in the Middle East, North Africa and Turkey may be rendered...

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

It is not just the automobile industry that is facing a slump. The pharmaceutical sector is also facing pressure. Sanofi SA, the French multinational...

With demand for renewable power increasing by the day, Siemens is experiencing low demand for gas turbines. Therefore, the Company plans to lay off...

Cognizant, the US-based IT services company, is expected to lay off a significant number of its employees, most of them in India. It is...

The airline is attempting to slash HK$4 billion from its books to reverse two consecutive years of losses.

Almost the same number of employees were also absorbed into the merged entity. 

India will be the most affected as one-third of IBM’s workforce is based out of here.

The State Government Gazetted Employees’ Union may oppose the cut.

The German government has pressed for a fair bargain so that both parties are satisfied.

The job cuts can be attributed to digitisation and automation rendering staff redundant.