Job Cut

DBS Bank to cut 10% workforce in 3 years as AI transforms operations

DBS Bank to cut 10% workforce in 3 years as AI takes over key operations, with CEO Piyush Gupta outlining the impact of automation on banking jobs

FDA begins to rescind firings, calls some probationary staff back to work

Some of the calls were made to former employees in the Center for Devices and Radiological Health, the office responsible for overseeing medical devices and digital health products

Trump, Musk slash federal workforce as 9,500 govt employees laid off

Trump and Musk have cut 9,500 federal jobs as part of their effort to reduce bureaucracy. Led by Musk's DOGE, the move has sparked political backlash, legal challenges

Bezos' Blue Origin bracing for large job cuts after years of expansion

The magnitude of the job cuts wasn't immediately clear, though one of the people said it will be at least in the hundreds of jobs and potentially reach one thousand or more employees

Why Walmart is cutting scores of jobs, relocating employees to main offices

Last year, Walmart instructed employees in Dallas, Atlanta, and Toronto to relocate to larger hubs, with most transitioning to the company's headquarters in Bentonville

Salesforce to cut 1,000 roles while hiring salespeople for AI products

More than 1,000 roles will be affected, according to the person, who asked not to be identified because the information is private. Displaced workers will be able to apply for other jobs internally

Amazon to close 7 warehouses in Quebec, end 1,700 jobs in next 2 months

Online retailer Amazon said on Wednesday that it's closing all seven of its warehouses in the Canadian province of Quebec in the next two months. The e-commerce giant said the move would provide "even more savings to our customers over the long run". However, a Canadian union that successfully unionised one warehouse accused the company of closing its sites to fend off organising efforts in the region. The closures will eliminate about 1,700 permanent full-time jobs in the greater Montreal area, Amazon said. The warehouses also employ 250 temporary employees. Amazon said it would enlist local, third-party companies to deliver packages, reverting to a business model it used in Quebec before 2020. "This decision wasn't made lightly, and we're offering impacted employees a package that includes up to 14 weeks' pay after facilities close and transitional benefits, like job placement resources," Amazon spokesperson Barbara Agrait said in a statement. Agrait said the decision was made

YesMadam's 'fired for stress' stunt explodes, company faces backlash

YesMadam's controversial 'fired for stress' campaign has sparked outrage on social media, with users calling it a cheap PR stunt

Boeing lays off hundreds in Washington, California as part of planned cuts

Boeing has laid off hundreds of additional employees in Washington state and California as part of planned cuts that will eventually reduce the company's workforce by about 17,000. Nearly 400 Boeing employees were laid off in Washington state and more than 500 in California, news outlets reported Monday. The aerospace giant announced previously it would reduce its workforce by 10% in the coming months as it tries to recover from financial and regulatory troubles and a strike by its machinists that lasted almost two months. CEO Kelly Ortberg has said the strike did not cause the layoffs, which he said was the result of overstaffing. In November, the company started notifying workers who would be laid off. Notices filed with state employment agencies showed the first round of cuts impacted about 3,500 people around the country, The Seattle Times reported. Those cuts touched people in roles from engineers to recruiters to analysts and impacted Boeing's commercial, defense and global

Russia's labour shortage spreads as defence sector cuts down staff

Heavy recruitment by the armed forces and defence industries has drawn workers away from civilian enterprises, as has emigration, pushing unemployment to a record low of 2.3 per cent

European companies cut jobs amidst difficult economy, weak demand

Companies across Europe are being forced to freeze hiring or cut jobs on difficult economy and persistent weak demand for many products

Ford plans to cut 4,000 jobs in Europe, cites disruptive shift to EVs

Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars. Ford said most of the job cuts would come in Germany and would be carried out in consultation with employee representatives. The company said that it would also reduce working time for workers at its Cologne, Germany plant where it makes the Capri and Explorer electric vehicles. Dave Johnston, Ford's European vice president for transformation and partnerships, said in a statement that it is critical to take difficult but decisive action to ensure Ford's future competitiveness in Europe. The company said that the global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility. The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tacklin

After Boeing, Airbus to slash 2,500 jobs amid ongoing financial losses

These job cuts at Airbus, which represent around 7 per cent of its defence and space division's workforce, are expected to be implemented by mid-2026

Airbus likely to cut up to 2,500 jobs in defence, space divisions: Report

The European planemaker aims to implement the cuts, which represent 7 per cent of its workforce in the Defence & Space unit, by the middle of 2026

Samsung plans global job cuts of up to 30% in some divisions: Report

South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15 per cent and the administrative staff by up to 30 per cent

Mastercard plans to cut 3% of staff worldwide before Sept 30 amid overhaul

That would work out to about 1,000 people, based on its reported employee count at the end of last year

Cisco cuts 7% of workforce, as it shifts focus to AI, cybersecurity

Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not specify the number of jobs it is cutting. It had 84,900 employees as of July 2023. Based on that figure, the number of jobs cut would be about 5,900. In February, Cisco announced it would cut about 4,000 jobs. The networking equipment maker said in June that it would invest $1 billion in tech startups like Cohere, Mistral and Scale to develop reliable AI products. It recently also announced a partnership with Nvidia to develop infrastructure for AI systems. Cisco's layoffs come just two weeks after chipmaker Intel Corp announced it would cut about 15,000 jobs as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. Intel's quarterly earnings report disappointed investo

Intel to lay off nearly 17,500 workers, suspend dividend in turnaround push

Intel, which employed 116,500 people as of June 29, excluding some subsidiaries, said the majority of the job cuts would be completed by the end of 2024

11% increase in US dollar withdrawals in India since May 2023: Report

Software engineers, consultants made the most such withdrawals in 18 countries, says payroll company Deel

Ola Cabs CEO Hemant Bakshi resigns; company to lay off 10% employees

Hemant Bakshi's exit coincides with company's impending restructuring efforts, poised to impact at least 10 per cent of the workforce