Tag: layoffs

Wells Fargo cuts jobs in mortgage-lending business

While specific numbers are yet to be revealed, it is reported that Wells Fargo has laid off employees in the mortgage-lending business. However, the...

Musk to acquire Twitter, employees fear layoffs, future

Employees of Twitter have been experiencing a lot of uncertainty ever since talks of a takeover by Elon Musk have been on. While Musk is...

Better.com staff face third round of layoffs

After Better.com’s first round of layoffs, which was heavily criticised on social media, the CEO had issued an apology for the unceremonious way in...

Better.com announces another round of layoffs

Better.com, who’s founder and CEO, Vishal Garg has been in news for laying off 900 people on a zoom call is set for another...

Ban on layoffs in Argentina to end in December

Due to the economic slowdown resulting from the pandemic-induced mobility restrictions and lockdowns, the Government of Argentina had brought into effect two measures —...

HC orders TN government to assess layoffs during pandemic

The Madras High Court has directed that the Tamil Nadu government assess the number of employees laid off by various industrial units during the...

Lok Sabha passes Bill that bans strikes, lockouts, layoffs in units...

Lok Sabha has passed the Essential Defence Services Bill, which bans strikes, lockouts and layoffs in all establishments engaged in essential defence services. This comes...

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...

No fear of job loss at SAIL

When the raw materials division (RMD) of the Steel Authority of India (SAIL) in Kolkata was ordered to be dismantled, there were fears of...

Volkswagen to slash about 4,000 jobs, freeze hiring this year

In a bid to cut about 4,000 jobs, Volkswagen is planning to offer early retirement options or partial retirement to its older employees across...

TikTok to close India business, large-scale layoffs expected

With restrictions on its services still in place, Bytedance, which owns TikTok, has decided to close its business in India. Along with 58 other...

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...

10,000 job cuts for IBM in Europe

As a step towards lowering costs, IBM intends to slash 10,000 jobs in Europe at all its slow-growth service units, while preparing for its...

New York MTA likely to slash 50% jobs

The lack of federal aid and economic losses stemming from the pandemic is forcing the Metropolitan Transport Authority (MTA) to undergo service reductions. The...

More cabin crew to lose jobs at Etihad

Cabin crew at Abu Dhabi’s Etihad Airways have been told to expect more layoffs, via an internal mail. The Airline has decided to ground...

Consistency with employee branding a must, even amidst a pandemic?

Employee branding has never been ad important for organisations as it is now. How companies behave during a crisis, impacts their employee value proposition. “Crises...

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...

British Airways may lay off 10,000

Despite following some drastic cost-cutting measures over the past few months, British Airways (BA) appears to be faced with about 10,000 redundancies. While fielding...

American Airlines seeks govt aid; will lay off 19,000 in Oct

The workforce of American Airlines will be reduced by 40,000, which will include about 19,000 involuntary cuts, in October. Although the Airlines received aid...

Swiggy implements final phase of restructuring; lays off 350  

In what it calls as its final step in the restructuring exercise, food delivery firm, Swiggy, has announced further layoffs of 350 employees. This...

HCL: No appraisal in 2020, no mass layoffs, lateral hiring continues

HCL Technologies, a subsidiary of HCL Enterprise, has decided not to have appraisals for this year, and this will be applicable for all employees...

5-year leave without pay for 600 Air India employees

About 600 permanent employees of Air India, are to be offered a ‘leave without pay (LWP)’ scheme for a period of six months to...

Harley-Davidson to slash 500 jobs as part of five-year recovery plan

With sales plunging in the US, Harley-Davidson is planning to slash 500 jobs this year. These layoffs are part of a restructuring strategy being...

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...

Sahara employees get increments, promotions

While most businesses are imposing pay cuts and even laying off employees to stay afloat amidst the economic slump caused by the COVID-19 pandemic,...

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....

These employees are most vulnerable during layoffs

In every company, the frontline workers are considered to be the stars of the organisation. Those in customer-facing roles are considered an asset due...

Concerns about job security, workplace policies grew during pandemic: Survey

With remote working becoming the new normal, the survey by TimesJobs, titled ‘HR managers & Remote working’ could not have been better timed. As...

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...

Over 3,700 Uber employees fired in minutes over Zoom Calls

Uber has reportedly laid off nearly 3,700 employees via multiple Zoom calls, with each calling lasting less than three minutes conveying a common message...

Delta Air Lines suspends projects, may impact jobs at TCS, Cognizant,...

US-based Delta Air Lines, which outsources contracts to Tata Consultancy Services (TCS), Cognizant and IBM, has decided to suspended many of its technology projects....

No layoffs at DLF, staff to get increments up to L3...

Indian real-estate company, DLF, has assured that no employees will be laid off in the organisation. In fact, the Company plans to give the...

Walt Disney Co to dismiss non-essential employees amid COVID-19 outbreak

The impact of the coronavirus outbreak has forced many global multinational companies to furlough their employees, owing to the current financial burden.  On the...

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...

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....

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...

Sony India lays off over 120

Sony India has had to let go approx. one seventh of its workforce in the country. This means, about 120 employees have been rendered...

Cognizant to layoff 350 employees to reduce cost

Cognizant has decided to layoff around 350 people from mid to senior level positions. The salary packages of these employees ranged from Rs 80...

IT jobs at risk in the upcoming quarters, unemployment to rise

Following layoffs announced by Infosys and Cognizant, it is predicted that most big information technology (IT) companies in the country will be reducing their...

About 350 employees laid off at Uber

Around 350 Uber employees were laid off on 14 October, most of whom belonged to the advanced technologies group (ATG) of the ride-hailing company....

9000 expected to be laid off at Deutsche Bank

Deutsche Bank is reported to be planning to lay off about 9000 employees in Germany, mostly back office and support staff. The objective is...

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...

Wells Fargo reorganising its centres in India, hundreds of job cuts...

A few hundred employees can expect to lose their jobs at Wells Fargo’s development centres in Hyderabad, Bengaluru and Chennai. The American banking and...

Few things employees should do during an economic slowdown

Thousands of jobs have disappeared in a flash as employees are being laid off in auto, textile and now even in the FMCG sector....

IL&FS reduces wage bill, lays off 43% of its staff

Since the appointment of the new board at Infrastructure Leasing and Financial Services (IL&FS), in October 2018, the Indian infrastructure development and finance company...

Uber lays off 400 marketing staff owing to slow growth and...

Ride-hailing company, Uber, is reducing its 1200 strong global marketing team by 400, in order to bring down costs and do away with overlapping...

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...

Ford to lay off over 185 employees in Ontario

Ford Motor Company, the American multinational automaker, is expected to lay off about 185 employees at its assembly plant at Oakville, Ontario in September....

How companies handle mass exits during layoffs

Almost every sector in the Indian business scenario, is going through a turmoil. In the last five to six months, we have witnessed several...

Twitter’s Bengaluru development centre to shut; layoffs in sight

Twitter has apparently decided to discontinue its global engineering work at its Bengaluru development centre and is laying off some employees.

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,”...

Poland gets new LTTS R&D centre, local engineering talent to be...

Larsen & Toubro Technology Services (LTTS), the global engineering services company, has launched its new engineering, research and development (ER&D) centre in Krakow, Poland....

Latest

‘Don’t talk about abortion’: Meta to staff

Employees at Meta have been ordered to avoid discussing ‘abortion’ on Workplace, which is Facebook’s internal version. The tech company, which was formerly known as...

Magenta to hire over 340 in 2022

Magenta, the Indian integrated electric vehicle (EV) charging and mobility-solutions company, is gearing to expand its team by at least 340 employees in 2022....

Will startups slow down hiring this year?

The startup ecosystem in India is in a turbulent state. As experts say, the hiring intent of the company is a direct reflection of...

Exterro to double India headcount by end of 2022

Exterro, the preferred provider of Legal GRC software —specifically designed for in-house legal, privacy, and IT teams at Global 2000 and Am Law 200...

DIALOGUE

“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...

“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...