Job Cuts News
Tim Paine disappointed with job losses but sees opportunity in COVID-19 cutbacks by Cricket Australia
Australia captain Tim Paine has been disappointed to see support staff lose their jobs as part of cost-cutting measures during the coronavirus crisis but says there is opportunity in the challenges brought on by the pandemic.
The country's manufacturing sector activity recorded another sharp deterioration in business conditions during May as new orders placed with producers continued to fall after April's record contraction, leading firms to cut jobs at the quickest pace on record, a monthly survey said on Monday
Coronavirus Outbreak Impact: Nissan to close Indonesia, Spain auto plants after sinking into red for first time in 11 years
Japanese automaker Nissan plans to close auto plants in Spain and Indonesia after sinking into the red for the first time in 11 years as the pandemic squashed global demand and disrupted production
Nissan Motor plans to close Barcelona factories, 3,000 jobs lost; Spain's govt urges carmaker to consider alternatives
Spain's government says that Japanese carmaker Nissan Motor Co. has decided to close its manufacturing plants in the northeastern Catalonia region, resulting in the loss of some 3,000 direct jobs
Uber cuts 600 jobs in India due to COVID-19; 'made the decision so that we can look to future with confidence', says country head
Uber announced it is laying-off a fourth of its total headcount of 2,400 in the country across customer and driver support, business development, legal, finance, policy and marketing verticals.
Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates
Nirmala Sitharaman, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.
Coronavirus Lockdown: After Zomato, Swiggy sacks 1,100 employees as pandemic continues to hurt business
Joining arch rival Zomato, food delivery platform Swiggy on Monday announced to lay off 1,100 employees, nearly 14 per cent of its workforce, spanning across grades and functions in the cities and head office over the next few days as Covid-19 continues to hurt its business across verticals, IANS reported
There could be as many as one crore job cuts in the textiles sector, which has been severely hit by the ongoing lockdown, if there is no support and revival package from the government, according to apparel industry body Clothing Manufacturers Association of India (CMAI)
Coronavirus Outbreak: Oyo starts furloughing in US, select markets to reduce costs; India to be unaffected till lockdown
Oyo can keep job cuts at bay through a combination of lowered work weeks, pay cuts, temporary leave of absence until business recovers and other such measures, he added.
Coronavirus Outbreak: Over 1.25 bn jobs at stake; Asia-Pacific region to see greatest loss in work hours, says ILO
Over 1.25 billion workers are seeing their livelihoods threatened by the COVID-19 pandemic, the United Nations said on Tuesday, warning it was the "worst global crisis" since World War II.
With the coronavirus pandemic threatening a sharp economic slowdown, experts are suggesting companies to adopt a humane approach in rationalising their expenses without going for across-the-board pay cuts or freezing of hikes to ensure a faster recovery from the slump
Tata Steel Europe to cut 1,250 jobs in turnaround push; need to urgently improve profitability, says CEO
Besides the job cuts, which would be less than half of what the company had announced last year, Tata Steel said it will not replace employees who have retired or left the company
The job cuts include 500 people in its headquarters in Seattle, an Expedia Group company spokeswoman said in a statement
OYO to lay off over 1,000 people in India as part of restructuring across businesses, functions to trim redundancy
Hospitality firm OYO is planning to let go over 1,000 people in India as part of its restructuring and reorganisation of teams across businesses and functions to trim redundancy
Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
Last month, Oyo’s internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019.
Tata Steel Europe locks horns with union over 3,000 job cuts; company says move to ensure long-term future
Tata Steel Europe said on Wednesday it had begun talks with its workers on a “transformation programme” that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised
India's information technology services companies may shed 30,000 to 40,000 middle-level employees this year as growth slows down, IT industry veteran T V Mohandas Pai said on Monday
After Cognizant, now Infosys is laying off over 10,000 middle, senior-level executives
Job cuts: Slump in auto sector sales forces firms to shut down factories; around 3.50 lakh workers laid off
The auto sector, which contributes more than 7 percent of India’s GDP, is facing one of its worst downturns
Softening of demand in domestic market, protectionist measures abroad may impact value creation: Maruti Suzuki
Terming the weak demand situation as unfortunate, Maruti Suzuki India Chairman R C Bhargava said the company needs to recognise that such downturns do happen from time to time all over the world.