Tag: Restructuring
Will Citi let go 22,000 roles by 2026?
In the process of doing away with five layers of management, Citi’s management layers have been reduced to eight, from the previous 13. The...
BHP restructures operations, empowers local leaders for improved performance
BHP Group, a mining company has announced it would dissolve certain global teams and shift their responsibilities, such as planning, environmental management, and heritage...
BuzzFeed to axe 16% roles; to parts ways with ‘Complex’
With an aim to refocus on its iconic brands, BuzzFeed, a digital-media company, has decided to slash 16 per cent of its workforce. The...
STL cut salaries of almost half its staff by 15-25%
Sterlite Technologies (STL) has reduced the salaries of nearly half of its 3,500 employees by 15 to 25 per cent. This decision was taken...
Flipkart implements annual job cuts, 5-7% workforce reduction
As per media reports, Flipkart, owned by Walmart, is undergoing a workforce reduction that could lead to a five to seven per cent decrease...
Cruise implements 24% workforce reduction
Cruise, the self-driving car subsidiary of GM, has reduced its workforce by 24 per cent, laying off 900 employees. This was done in an...
Citigroup announces partial bonuses for laid-off staff
Citigroup is set to provide laid-off employees with partial bonuses determined by their tenure this year as part of the bank's extensive reorganisation set...
Broadcom to restructure; axe 1,300 jobs
After Broadcom acquired VMware, a leading cloud-computing company, there were notable organisational changes. Bloomberg News reports that around 1,300 California-based employees will end up...
ByteDance restructures gaming division, halting projects & exploring divestment
After two years of modest performance, ByteDance's gaming division, Nuverse, is undergoing substantial downsizing.
Bytedance, the parent company of TikTok, is instructing its employees to...
Snapchat & Fi announce workforce reductions as part of restructuring
Snap, the parent company of Snapchat, is reportedly planning another round of layoffs, with approximately 150 employees expected to be affected. This move is...
Citigroup’s restructuring could cause job losses
Citigroup is taking measures on a substantial restructuring exercise, and employees working in compliance and risk management support roles are more likely to be...
Alibaba being reorganised; new CEO keen to promote youngsters
It has not been very long since Daniel Zhang took over as chairman and CEO, Alibaba. And now, amidst major restructuring of the Chinese...
Another round of layoffs at Myntra imminent
As a part of its ongoing restructuring strategy, Myntra might be laying off employees in the coming future. The Flipkart owned e-commerce platform may...
Kyndryl cuts non-core roles in India
Kyndryl, a global company that provides infrastructure services to organisations across different industries, recently announced that it would be laying off some of its...
Axe falls on 10,000 jobs at Meta
Meta is cutting jobs yet again, after laying off 11,000 members of its workforce in November 2022. In the latest round of job cuts,...
Hirect fires 40% workforce as part of strategic changes
As part of organisational restructuring and strategic changes in its business model, Hirect, a chat-based direct-hiring platform for startups, has laid off 40 per...
Seagate to lay off 3,000 as part of restructuring
With revenues dipping 35 per cent in quarter one of financial year 2023 and demand for falling too, Seagate Technology has decided to undergo...
Employees in Kerala allege Byju’s made them resign forcefully
On 25 October, 2022, a group of employees from the Thiruvananthapuram branch of Byju’s in Kerala met V Sivankutty, labour minister of Kerala with...
Oracle starts laying off employees in the US
Oracle Corp. has reportedly begun the process of laying off employees in the US, as a part of a cost cutting and restructuring exercise....
Thai Airlines to cut down staff and sell aircraft
Thai Airlines, which has been struggling to make ends meet for a very long time now, has decided to sell 62 airplanes and cut...
ByteDance lays off people as part of restructuring
Chinese multinational internet technology company, ByteDance, is going through a major restructuring process. As part of the exercise, it is laying off people in...
Ford Motors restructuring in India, more than 40,000 jobs at stake
Ford India has announced the shut-down of its two factories in India, in Chennai (Tamil Nadu) and Sanand (Gujarat). With this decision, the livelihoods...
Radio Mirchi restructures team to align with digital ambitions
Radio Mirchi is now just Mirchi. The rebranding has been done in a bid to make the market understand the organisation’s changed business strategy....
Nokia to cut 1,500 jobs in India, as part of cost-cutting,...
Last week, Nokia, the Finnish telecom equipment manufacturer, had revealed plans to downsize its workforce by about 10,000 over a period of two years....
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...
2,000 to be laid off at Jaguar Land Rover
Jaguar Land Rover is all set to shrink its global workforce by about 2,000 as part of a cost-cutting exercise. Employees have already been...
How this energy company is championing employee inclusivity & engagement
In today’s competitive business landscape, fostering an inclusive and engaging work environment is not just a feel-good initiative; it’s a strategic imperative. Jakson Green,...
Trident’s Asmita leaves blossom into inclusive workplaces
Forget the tired trope of corporate activism. In the heart of India's textile industry, Trident, a manufacturing company, is quietly weaving a revolution in...
Engagement is outdated: The future of success lies in ‘employee involvement’
In the ever-evolving landscape of the contemporary workplace, a profound metamorphosis is underway, challenging the conventional emphasis on employee engagement. This paradigm shift posits...
Tata Steel: Journey through excellence in talent acquisition
Tata Steel, part of the Tata Group, is a multinational steel-making company headquartered in Mumbai, India. It is one of the world's leading steel...
Toshiba to let go 5000 in Japan
Toshiba is contemplating a significant downsizing of its workforce in Japan, eyeing a reduction of about 5,000 positions. The move is said to affect...
Latest
upGrad records 55,000 placements in FY24
Fresh off a successful fiscal year, upGrad, a learning platform, capped off FY24 with considerable growth in annual placements and transitions, reaching a record...
Remote work for UAE government staff today due to heavy rains, hailstorms
Government employees in the UAE have been ordered to work remotely on 16 April, 2024. Private-sector organisations have been told to take necessary precautions...
Ikea to train 3,000 in AI
Ikea has committed to an ambitious initiative: equipping approximately 3,000 co-workers and 500 leaders with the essential skills in artificial intelligence (AI).
These training programmes...
Roche reimagines the office: A wellness oasis for the digital age
The office is dead. Long live the office, but not as we knew it. The past two years of remote work have fundamentally reshaped...
DIALOGUE
Data analytics and not technology will redefine HR
Q. How satisfying has been your professional journey of 39 years?
A. It has been a bagful of mixed experiences. At times I have been...
EQ, IQ & empathy define the success of a CEO
Q. You spent 16 years at LIC before moving to a corporate role at ICICI Prudential. Now, 22 years on, I am still curious...
“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....
