Page 15 - Job Cuts
Lufthansa to cut more jobs, pull big jets due to gloomy travel outlook
The airline will also pull its remaining eight Airbus A380 jets out of service and put them in long-term storage, along with 10 four-engine A340-600 aircraft
 "Lufthansa to cut more jobs, pull big jets due to gloomy travel outlook")
World Coronavirus Dispatch: Citigroup to resume job cuts after pause
Hong Kong plans new stimulus as economy falters, China's recovery gathers speed on retail rebound, some jobs may permanently move to machines and other pandemic-related news across the globe
 "World Coronavirus Dispatch: Citigroup to resume job cuts after pause")
Singapore Airlines plans to cut 4,300 jobs due to Covid-19 pandemic
The group said in a statement it will cut the positions across Singapore Airlines, regional arm SilkAir and budget unit Scoot
 "Singapore Airlines plans to cut 4,300 jobs due to Covid-19 pandemic")
Rising sales numbers not a reflection of ground reality, say auto dealers
Dealers say that with more job cuts and salary reduction, banks and NBFCs have become more cautious
 "Rising sales numbers not a reflection of ground reality, say auto dealers")
Ford Motor to cut 1,000 North American salaried jobs amid overhaul
The job cuts are aimed at improving the automaker's efficiency and are not related to rising costs from the coronavirus pandemic, said people familiar with the action
 "Ford Motor to cut 1,000 North American salaried jobs amid overhaul")
Chevron Corp posts $8.3 billion quarterly loss on writedowns, job cuts
The loss includes $1 billion to cover severance pay for up to 15% of its 45,000-person workforce
 "Chevron Corp posts $8.3 billion quarterly loss on writedowns, job cuts")
This is how you can get free Netflix subscription for 83 years in US
Netflix is giving a free subscription for 83 years, or 1,000 months, calling it an 'immortal' account. All you have to do is play a video game and get the highest score
 "This is how you can get free Netflix subscription for 83 years in US")
United Airlines warns it may furlough 36,000 staff as Covid-19 hits demand
The outlook for a recovery in the airline industry has dimmed in just the past two weeks, as infection rates rise in much of the US.
 "United Airlines warns it may furlough 36,000 staff as Covid-19 hits demand")
United Airlines sending layoff notices to nearly half of its US employees
In the clearest signal yet of how deeply the virus outbreak is hurting the airline industry, United Airlines will send layoff warnings to 36,000 employees, nearly half its US staff
Airbus employees protest job cuts as firm plans to lay off 15,000 workers
Airbus has said a third of the 15,000 jobs are set to go in France included 3,378 in the southwestern city of Toulouse where it assembles wide-body jets and some smaller A320s
 "Airbus employees protest job cuts as firm plans to lay off 15,000 workers")
Germany's DHL to cut 2,200 jobs at UK Jaguar Land Rover plants, save costs
The job cuts comprise just under 40% of the entire DHL workforce on the contract
 "Germany's DHL to cut 2,200 jobs at UK Jaguar Land Rover plants, save costs")
Tata Steel Dutch employees safe from job losses, says Labour Union
There are about 9,000 workers at Ijmuiden. FNV said an agreement has also been reached on the company structure.
 "Tata Steel Dutch employees safe from job losses, says Labour Union")
Airbus hints at compromise on job cuts in exchange for govt-funded schemes
France urged Airbus to make as few forced layoffs as possible, while French and German unions said compulsory cuts at the European planemaker were a "red line"
 "Airbus hints at compromise on job cuts in exchange for govt-funded schemes")
HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report
The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank's 235,000 staff worldwide
 "HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report")
Tata Steel workers at Dutch plant vote to strike over unplanned job cuts
Workers at the Dutch subsidiary have been unhappy since the sudden departure last month of their CEO, Theo Henrar
 "Tata Steel workers at Dutch plant vote to strike over unplanned job cuts")
New wave of job cuts likely across US as Covid-19 crisis crushes economy
The Labor Department's weekly jobless claims report on Thursday is also expected to show the number of people on jobless benefits hitting a new record high in mid-May
 "New wave of job cuts likely across US as Covid-19 crisis crushes economy")
Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more
Here are the top 10 headlines on Thursday morning
 "Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more")
10-15% moderation in salaries not to impact lending practice: HDFC Bank
If the corporates are looking at moderation in salaries or in the increments, the same needs to be watched carefully from a prudential perspective, said the bank's country head for retail lending
 "10-15% moderation in salaries not to impact lending practice: HDFC Bank")
Uber trims a quarter of its India workforce, lays off 600 employees
The move is part of a global restructuring plan announced earlier by Uber CEO Dara Khosrowshahi in view of dwindling fortunes amid Covid-19 lockdowns in several countries, including India
 "Uber trims a quarter of its India workforce, lays off 600 employees")
Rolls-Royce to axe 9K jobs in air travel slump, to save GBP 1.3 bn a year
The 9,000 jobs, out of a global staff of 52,000, will go predominantly from Rolls's civil aerospace business, which generates just over half of its 15 billion pounds ($18 billion)of annual revenues
 "Rolls-Royce to axe 9K jobs in air travel slump, to save GBP 1.3 bn a year")