Job Cuts

Job Cuts News

No plan to cut jobs, letters sent to zonal offices for 'routine' performance review, says Ministry of Railways
Business

No plan to cut jobs, letters sent to zonal offices for 'routine' performance review, says Ministry of Railways

The Railways on Tuesday clarified that the letters sent to zonal offices to identify employees above the age of 55 years and those who have completed 30 years in service were for a "routine" performance review

Deutsche Bank layoff scare looms over employees involved in India operations, trimming of staff strength likely
Business

Deutsche Bank layoff scare looms over employees involved in India operations, trimming of staff strength likely

Deutsche Bank said on Sunday that it would not need to raise capital to initiate the cuts, which will result in it making a loss of 2.8 billion euros in the second quarter.

French Finance Minister Bruno Le Maire pledges to fight for plant where General Electric plans 1,044 job cuts
Business

French Finance Minister Bruno Le Maire pledges to fight for plant where General Electric plans 1,044 job cuts

French Finance Minister Bruno Le Maire said on Tuesday he would fight to save jobs at a General Electric Co (GE) factory in eastern France where more than 1,000 posts are threatened

Tata Motors sees JLR back in profit this year on cost cuts, recovery in Chinese demand; says no plans to sell British auto arm
Business

Tata Motors sees JLR back in profit this year on cost cuts, recovery in Chinese demand; says no plans to sell British auto arm

Britain-based JLR has been at the centre of media speculation in recent months, with reports Tata might look to sell a stake and also that the unit was set to announce a major investment in Britain.

Gold prices rise to more than one-week high as dollar loses ground after weak US economic data
Business

Gold prices rise to more than one-week high as dollar loses ground after weak US economic data

China, the world’s biggest gold consumer, raised its gold reserves by 0.6 percent to 60.62 million ounces by end-March, central bank data showed.

Job cuts: Standard Chartered Bank cuts India headcount as digital alternatives gain steam
Business

Job cuts: Standard Chartered Bank cuts India headcount as digital alternatives gain steam

Around 85% of Standard Chartered Bank's payment transactions, over 80% of the overall banking transactions by the 24-35 age group and 83% of the application onboarding is presently being done digitally.

Qualcomm has cut 1,500 jobs in its California facilities in order to save costs
News & Analysis

Qualcomm has cut 1,500 jobs in its California facilities in order to save costs

Workers were told of the layoffs on Wednesday. A company spokesperson was quoted as saying that this move, a reduction of full-time and temporary workforce, is a part of the cost reduction plan announced in January

'Small number' of people impacted in India by global reorganisation: Amazon
Business

'Small number' of people impacted in India by global reorganisation: Amazon

The comments come amid reports that the Amazon has laid off 60 people in India as part of a global restructuring, and that more employees could be handed the pink slip in the coming days

RBS' small bank bid: To slash hundreds of jobs in UK, move them to India
Business

RBS' small bank bid: To slash hundreds of jobs in UK, move them to India

RBS is in the midst of a major restructuring aimed at returning the bank to profit after almost a decade of straight years of losses

Layoff season tips: Here's how you survive a job loss with tight finances
Business

Layoff season tips: Here's how you survive a job loss with tight finances

Monitor your budget; cut your expenses, especially on the entertainment front; sit tight and don't worry; it will pass

3 years of Modi govt: Some sore points but PM deserves pat for the 'bright spot' that India is
Business

3 years of Modi govt: Some sore points but PM deserves pat for the 'bright spot' that India is

Lack of jobs, investment, bank NPAs are not testimonies to the govt's failure; they mean growth is still on a slightly shaky ground

Infosys, Wipro, TechM layoffs: No easy way out of the mess as threat of hi-tech, Trump gets real
Business

Infosys, Wipro, TechM layoffs: No easy way out of the mess as threat of hi-tech, Trump gets real

Pink slips are being handed to the employees with a demoralising advise that they hadn’t performed well. When it happens to be people in their 30s and 40s, it’s far more devastating

Job cuts are a wider problem, not limited to Infosys, TechM; is Modi govt waking up to challenge?
Business

Job cuts are a wider problem, not limited to Infosys, TechM; is Modi govt waking up to challenge?

The pain of job losses is visible in other sectors as well. This makes Narendra Modi's task of employment generation a lot tougher.

Cognizant may lay off 6,000: Tech grads will have to upscale skills to stay relevant, survive
Business

Cognizant may lay off 6,000: Tech grads will have to upscale skills to stay relevant, survive

Remain open to technological advances, be ready to adapt in order to remain relevant in the IT sector

Ira, the HDFC humanoid robot assistant is not here to take away our jobs…not yet
News & Analysis

Ira, the HDFC humanoid robot assistant is not here to take away our jobs…not yet

We checked out HDFC's humanoid robot Ira and spoke to experts on the impact of robotics and its transformational potential in our society.

Microsoft may be looking at cutting 700 jobs by 26 January as part of previous announcement
News & Analysis

Microsoft may be looking at cutting 700 jobs by 26 January as part of previous announcement

As part of its previous announcement regarding offloading 2,850 employees by June 2017, Microsoft may soon cut 700 jobs during its earnings call on January 26, media reports said on Friday.

L&T cuts massive 14,000 jobs due to digitisation, slowdown; no let-up seen
Business

L&T cuts massive 14,000 jobs due to digitisation, slowdown; no let-up seen

The huge retrenchment at the conglomerate, at a time when the government claims the country is the fastest growing, reveals the fault-lines in the economy

Volkswagen and labor unions agree to axe 30,000 people by 2020
Auto

Volkswagen and labor unions agree to axe 30,000 people by 2020

Volkswagen and its powerful labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for avoiding forced redundancies in Germany until 2025, a compromise which leaves the carmaker's profitability still lagging rivals.

Twitter COO Adam Bain to leave the company; CFO Anthony Noto to take over his role
News & Analysis

Twitter COO Adam Bain to leave the company; CFO Anthony Noto to take over his role

Just weeks after reporting job cuts and a disappointing fiscal quarter, Twitter announced Wednesday that chief operating officer Adam Bain is leaving the company.

China must worry about jobs as firms move production to India
Business

China must worry about jobs as firms move production to India

As Chinese manufacturers show an increasing interest in setting up assembly lines in India, the economic competition between the two countries is likely to enter a new stage as India and China vie to expand their industry chains.