Page 16 - Job Cuts
Cure.fit lays off 10% of its trainers, other staff; cuts pay across board
Sources also said that, these employees are asked to either resign with effect from May 1 or even by the end of May as an extra month would be added to their work experience if they want
 "Cure.fit lays off 10% of its trainers, other staff; cuts pay across board")
Top headlines: MPs take 30% salary cut, service sector activity contracts
Business Standard brings you top headlines of the day
 "Top headlines: MPs take 30% salary cut, service sector activity contracts")
Street signs: Nifty at critical juncture, fear of job cuts, and more
Last week, the volatility indicator fell sharply even as the Nifty fell 6.5 per cent. Analysts, however, say the weakness in financial stocks is a pain-point for the market
 "Street signs: Nifty at critical juncture, fear of job cuts, and more")
Covid-19: Big banks reassure staff on layoffs owing to future uncertainty
There could be a sudden surge in activity once cities re-open, people get back to work and markets normalize in a few months - leaving banks unprepared if they fire staff that seem unnecessary now
 "Covid-19: Big banks reassure staff on layoffs owing to future uncertainty")
HSBC plans to slash 35,000 jobs after profits slid by a third last year
The Asia-focused lender has been trying to lower costs as it faces a multitude of uncertainties caused by the grinding US-China trade war
 "HSBC plans to slash 35,000 jobs after profits slid by a third last year")
Walmart-owned Myntra scales down operations, cuts 80 jobs from Gurugram hub
Myntra has a strength of 3,000 employees and the lay-offs have taken place across functions such as business operations, product and technology, and marketing
 "Walmart-owned Myntra scales down operations, cuts 80 jobs from Gurugram hub")
Tata Motors JLR to cut 500 jobs at UK factory to optimise production
There are currently just under 4,000 employees at Halewood, excluding agency staff, and the latest announcement is likely to affect around 500 jobs at the site, the company said
 "Tata Motors JLR to cut 500 jobs at UK factory to optimise production")
After scorching start, Oyo looks to get its business basics right
The firm is said to be firing 2,400 employees, or 20 per cent of its workforce in India, mainly in sales and business development
 "After scorching start, Oyo looks to get its business basics right")
How inflation may make your fav snack a little more expensive
However, your soft drinks and juices will remain immune to the hike, despite the recent surge in sugar prices. Thanks to Coca-Cola and PepsiCo.
 "How inflation may make your fav snack a little more expensive")
Opel prepares to slash up to 4,100 jobs amid a car sales slowdown
The historic German carmaker, which Peugeot bought from US-based General Motors in 2017, has already slashed almost 7,000 jobs since the takeover
 "Opel prepares to slash up to 4,100 jobs amid a car sales slowdown")
How commodity price inflation is prompting FMCG firms to increase prices
The last of a two-part series looks at how commodity price inflation is prompting firms to increase prices
 "How commodity price inflation is prompting FMCG firms to increase prices")
Oyo continues to trim workforce, plans to let go 1,200 in India in 4 months
It has let go of 5 per cent of its 12,000 employees in China partly due to non-performance
 "Oyo continues to trim workforce, plans to let go 1,200 in India in 4 months")
Tata Steel Europe has no option, but to cut jobs to curtail costs: Analyst
Tata Steel Europe's current production capacity stands at 12.5 million tonne and it has 21,000 employees
 "Tata Steel Europe has no option, but to cut jobs to curtail costs: Analyst")
Tata Steel confirms 3,000 job cuts in Europe, 1,000 of those in UK
The job cuts had been announced by Tata Steel last week as part of a wider transformation programme
 "Tata Steel confirms 3,000 job cuts in Europe, 1,000 of those in UK")
Continental to slash 5,500 jobs globally by 2028 to save 500 million euros
The jobs cull would support Continental's "urgently needed technological transition and thus the strengthening of our competitiveness and future viability", CEO Elmar Degenhart said
WeWork to begin US job cuts 'in earnest' this week to stabilise business
WeWork employees are accustomed to routine firings, unlike at the typical startup in growth mode.
 "WeWork to begin US job cuts 'in earnest' this week to stabilise business")
Tata Steel to cut 3,000 European jobs due to excess supply, high costs
The company says there will be no plant closures; the aim is to ensure long-term future
Auto slowdown: 286 dealers closed down in 18 months, 32,000 jobs impacted
The worst-hit is the passenger car segment. Maharashtra leads with 84 closures, followed by Tamil Nadu and Delhi
 "Auto slowdown: 286 dealers closed down in 18 months, 32,000 jobs impacted")
Nissan plans to cut more than 10,000 jobs around the world: Report
The additional cuts come on top of the 4,800 jobs Nissan announced in May
Samsung India denies it has laid off 1,000 of its employees in India
The electronics giant has 20,000 employees in India and several under-performers and those not delivering targeted results in their teams were reported to have been asked to leave
 "Samsung India denies it has laid off 1,000 of its employees in India")