Tag: Job Cuts

Spanish bank to lay off over 6,452 instead of 8,291

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 wants women in 30% senior roles in 5 years

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 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...

Deutsche Bank to slash about 400 jobs

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...

Airlines across the world struggling to survive

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...

More junior staff to be laid off at Standard Chartered

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

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...

Workforce rehaul at Coca-Cola, 2,200 to be laid off globally

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 may move 4,600 New York staff to smaller hubs

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, Arcadia to close stores; 25,000 jobs may be cut

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....

ABN Amro to lay off 2,800 people, to digitise

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 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...

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...

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,...

8% of Accenture workforce in UK laid off

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 to slash 6,000 jobs, ground 100 planes

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...

AT&T to cut 3,400 technician and clerical jobs in the US

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 to slash 200 jobs in a bid to cut costs

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...

Over 1,100 employees laid off at Shoppers Stop

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...

Sensitive dismissals are the need of the hour

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 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,...

Edelman lays off 390, cuts 5-20% pay of remaining staff

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 to lay off 15,000 jobs in 5 years

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...

IBM cuts jobs across the US

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

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...

3,700 full-time jobs to be slashed at Uber

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 to lay off 3,000, sees no hope of business improving...

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: No job cuts in India, but furloughs in the US

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

Mountaineering expeditions in Nepal stopped, 20,000 jobs may be lost

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 Europe to slash 1,200 jobs

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...

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,...

Cisco expected to slash jobs yet again

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

British banks to cut jobs as demand for digital services grows

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...

HSBC announces 35,000 job cuts as profit falls in 2019

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...

Rising costs force hospitality major OYO to increase layoffs

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 may lay off 3,000 in Europe

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 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...

HSBC to layoff staff across North Africa, Turkey, and the Middle...

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

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....

Sanofi to lay off hundreds in Japan

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

Siemens to lay off 2,700 employees

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 to lay off employees in India

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...

Cathay Pacific set to cut overseas jobs as part of restructuring

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

Airtel–Telenor merger costs 700 jobs

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

Job cuts likely in IBM

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

Maharashtra Government considering 30% cut in total workforce

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

Employees protest against Siemens’ proposal to cut 6900 jobs

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

Now banks cut jobs

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

McDonald’s closes 169 outlets in North and East India, staff at...

Thousands of employees await a solution following the Company’s termination of franchise agreement with CPRL.

How personalised learning can transform capability development in 2021

According to the World Economic Forum, there is a fierce urgency for reskilling in the world, as over one billion jobs have been transformed...

Dilemmas and decision making – How coaching can help leaders at...

Leaders, especially, talented and competent ones, are critical for organisations. They perform well under pressure and willingly step up when required to shoulder a...

Latest

TerraPay gets Vinay Trivedi as its global head – HR

TerraPay, the digital solutions company, has appointed Vinay Trivedi as its new global head of HR. In this role, Trivedi will lead the HR...

All-India Quarterly Establishment-based Employment Survey (AQEES) to cover 9 sectors

The Labour Bureau under the aegis of the Ministry of Labour and Employment will be conducting the All-India Quarterly Establishment-based Employment Survey (AQEES). This...

Renew Power ropes in L&T Infotech’s Ajay Tripathi, as CHRO

Ajay Tripathi has been appointed as the CHRO at Renew Power, which works in the renewable and environment sector. Tripathi will lead the HR...

Many employers make vaccination mandatory for employees in the US

With cases of the Delta variant rising in the US, many employers are making it mandatory for their staff to get their shots. Some...

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...