Page 6 - Job Cut

Disney to cut 28,000 jobs as coronavirus slams its theme park business

Disney shut its theme parks worldwide when the novel coronavirus began spreading this year.

Covid-19 impact: England and Wales cricket board to cut workforce by 20%

The England and Wales Cricket Board (ECB) is set to reduce its workforce by 20 per cent as it grapples with a whopping 100-million pound loss due to the Covid-19 pandemic

Maersk to cut jobs as part of major reorganisation, internal email says

Shipping group Maersk will cut job cuts as part of a major reorganisation, an internal email sent to Maersk employees shows.

Boeing plans second volunteer layoff package to employees amid Covid crisis

"Unfortunately, layoffs are a hard but necessary step to align to our new reality, preserve liquidity and position ourselves for the eventual return to growth," the CEO says

Layoffs during pandemic shows India Inc's lack of empathy: Ratan Tata

Several Tata Group companies, including its airlines, hotels, financial services, and auto business, are severely hit, but have not laid off employees to date

Over half of Indian firms 'vulnerable' on wage payments, says Crisil

Ashu Suyash, the MD and CEO of the agency, said it has done an analysis of 40,000 companies having a collective wage bill of Rs 12 trillion, which revealed the grim situation.

These co-living startups are helping tenants sail through Covid-19

Firms are waiving the rent of those who have lost their jobs during the pandemic

Fears about India's retail loan defaults overblown, says Macquarie

"the unanimous feedback has been that there has been a decline in the total loan book under moratorium from the 25-30% numbers reported as of end-May," analysts led by Suresh Ganapathy wrote in a note

Tata Motors owned Jaguar Land Rover plans over 1,000 job cuts over Covid-19

The UK's largest automotive manufacturer, which had earlier on Friday reported a 30.9 per cent drop in sales in the aftermath of the pandemic related lockdown

Covid-19 impact: Lufthansa says 22,000 jobs could go in costs purge

The carrier may also face a fare war with European discounters led by Ryanair Holdings and years of sluggish demand on usually money-spinning long-haul routes.

A horror movie in the making?

After the lockdown, a summer of discontent is looming as the jobs crisis deepens

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

NYC may lose 475,000 jobs, $9.7 bn in tax revenue due to Covid-19: Report

Given the staggering job losses, IBO said it assumes that the US economy has entered a recession even though official statistics have not yet captured the scenario

Around 80,000 jobs expected to be cut due to coronavirus lockdown: Report

The expectation of retrenchment of 20 per cent of employees by those featured in the survey amounts to 78,592 people.

Oyo to cut about 5,000 jobs in broad overhaul, highest reductions in China

The restructuring in China is in line with the global restructuring exercise announced in January 2020, said sources.

Bosch likely to cut around 2,000 jobs in India amid auto sales slump

Carmakers will shed 80,000 jobs across the world in the coming years

Over 600 jobs cut at US unit following Washington's sanctions: Huawei

The layoffs will come at the Chinese company's US-based research and development arm, Futurewei Technologies, which is incorporated in Texas

Govt job cuts? To lower revenue expenditure, Tamil Nadu mulls outsourcing

According to the Budget documents, almost 40 per cent of the state's revenue expenditure during 2017-18 is accounted for by salary and pension