Page 14 - Job Cuts

US private equity fund Lone Star lays off majority of Asia staff: Sources

Texas-based private equity firm Lone Star Funds has laid off most of its investment team in Asia outside Japan in a major retreat from the region

Exxon Mobil plans to cut US headcount by 5-10% annually for 3 years

The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs

Thai Airways cuts 240 exec positions as part of bankruptcy restructuring

"The number of executive positions has been reduced from 740 to about 500," the airline said in a statement

Jaguar Land Rover to cut 2,000 jobs globally, full review underway

"We anticipate a net reduction of around 2,000 people from our global salaried workforce in the next financial year," it said

Boeing to outsource information technology work to Dell, eliminate 600 jobs

Boeing shed 20,000 jobs companywide last year and has said it needs to cut 11,000 more this year, making it harder for the affected IT employees losing their jobs to find new work in the company

Services PMI rises to 52.8 in Jan on the back of demand, consumer optimism

That improved sentiment was in line with findings of a Reuters poll last month that predicted Asia's third-largest economy would recover from the Covid-19 crisis more strongly than previously thought

Commerzbank's new CEO plans to axe 10,000 jobs in cost-cutting drive

The plan to reduce the workforce by around a quarter and cut the network of branches from 800 to 450 by 2024 will be finalised by Feb. 3, the bank said

Mahindra lays off two-thirds of staff at its North American subsidiary

Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency

Debenhams set to shut down without alternative offer, threaten 12,000 jobs

Debenhams said it had no choice but to start winding down the business, given the prolonged effects of the pandemic

Exxon Mobil slashes capital spending, announces $20 bn oil asset write-down

The company said it was removing gas projects from its plans in Appalachia, the Rocky Mountains, Oklahoma, Texas, Louisiana, Arkansas, Canada and Argentina

Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad

Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to 2024

IBM planning to cut about 10,000 jobs in Europe ahead of unit sale

The wide-ranging losses will affect about 20 per cent of staff in the region, according to people familiar with the matter

Danone to cut up to 2,000 jobs, aiming to save $1.2 billion: Report

The world's largest yoghurt company on Monday said these actions would help it save 1 billion euros a year by 2023 and meet a new mid-term margin target.

ThyssenKrupp to slash 11,000 jobs after recording $6.5 bn net loss

Sees another billion-euro deficit after 5.5-bn euro loss

L&T Technology may trail peers in near term despite improved FY21 guidance

While deal pipeline remains strong, Q3 growth, valuations could impact stock

Chevron to lay off about 25% of Noble Energy employees after merger

The job cuts come after the company promised to lower its operating expenses by $1 billion this year in the face of sharply lower energy demand

When job loss wrecks your finances

Continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time

Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: Report

The South China Morning Post said the airline was expected to announce the job cuts on Wednesday, adding the figure had been reduced from 8,000 layoffs after government intervention

Japan's ANA to seek workers to leave voluntarily, cuts winter bonus to zero

ANA said redundancies would be offered to some of its 15,000 employees but did not give a specific figure

United Airlines' pilots agree on reduced schedule to avert 2,850 furloughs

United is still planning to furlough more than 12,000 frontline employees on Oct. 1