Page 5 - Job Cuts

Australian telecom Telstra to cut nearly 2,800 jobs as competition stiffens

Telstra had more than 31,000 employees as of August 2023 according to its annual report

Tesla plans to fire 601 more employees in California amid falling sales

The electric carmaker said last month it would lay off 6,020 people in California and Texas, as part of the headcount cuts

Tesla ramps up job cuts in China as sales slowdown bites, many depts hit

It's unclear how many people will be affected and what impact it may have on Tesla's China operations

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

Toshiba to slash 5,000 jobs in Japan in latest bid to restructure: Report

The Tokyo-based company is downsizing noncore businesses and will book a one-time cost of roughly ¥100 billion ($650 million) as a result, Nikkei reported without saying where it got the information

Morgan Stanley plans biggest round of job cuts in Asia Pacific in years

The final size and timing of the cuts may change, the people said. A media representative for the New York-based bank declined to comment.

Apple cut at least 600 jobs in US when car and screen projects stopped

At the end of February, Apple began to wind down both initiatives, which were seen as major moonshot efforts to advance the company's technologies or enter sizable new areas

Byju's laying off employees via phone calls, dropping notice period: Report

The latest round of layoffs at edtech firm is estimated to affect between 100 to 500 employees

Job cuts: McKinsey offering some staff nine months' pay to leave firm

McKinsey and its peers in the consulting world have trimmed headcount, delayed start dates and slowed the pace of hiring over the past year amid declining demand from clients

Dell reduces workforce as part of broader cost cuts, limits external hiring

The layoffs come after sluggish demand for its personal computers for nearly two years partly contributed to a 11% drop in revenue in fourth-quarter earnings posted last month

Barclays to cut hundreds of jobs in investment banking to trim costs

The cuts are expected to take place in the coming months and are part of the firm's annual cutting of low performers, the people said.

Unilever to separate its ice cream biz, cut 7,500 jobs in restructuring bid

The move is part of a broader restructuring as Schumacher tries to jumpstart growth. Unilever said the job cuts, which will affect mainly office-based roles, are part of a plan to achieve €800 million

Bumble to cut 350 jobs, plans overhaul in bid to revive slowing user growth

Bumble had more than 950 full-time employees at the end of 2022, of which about 770 are located outside of the US, according to a separate filing

US Army slashing 5% jobs in major revamp to prepare for future wars

The US Army is slashing the size of its force by about 24,000, or almost 5 per cent, and restructuring to be better able to fight the next major war, as the service struggles with recruiting shortfalls that made it impossible to bring in enough soldiers to fill all the jobs. The cuts will mainly be in already-empty posts not actual soldiers including in jobs related to counter-insurgency that swelled during the Iraq and Afghanistan wars but are not needed as much today. About 3,000 of the cuts would come from Army special operations forces. At the same time, however, the plan will add about 7,500 troops in other critical missions, including air-defence and counter-drone units and five new task forces around the world with enhanced cyber, intelligence and long-range strike capabilities. According to an Army document, the service is significantly overstructured and there aren't enough soldiers to fill existing units. The cuts, it said, are spaces not faces and the Army will not be .

CEO's pay hiked to $26 mn in 2023, Citigroup says amid 20,000 job cuts plan

Jane Fraser's pay included a base salary of $1.5 million and a cash bonus of $3.7 million as well as $20.8 million in deferred performance-linked stock, the company said

Cisco latest firm to announce job cuts; 2024 tech layoff tally hits 35,000

US firm Cisco system said that it's been hit by a temporary "pause" in orders from customers who are busy installing equipment they've already acquired

RBC's US unit cuts about 100 jobs after financial losses, regulatory fine

RBC had injected about $2.95 billion into the US unit in October to bolster its capital, as a part of management actions to improve profitability at City National

Morgan Stanley planning to eliminate several hundred jobs in wealth unit

The bank's shares have been the worst-performing among its biggest US peers this year, down about 10%

Continental to cut 7,150 jobs in savings push at struggling auto unit

Some 17 sites in the Rhine-Main area will be reviewed in addition to some other locations, a company spokesperson said Wednesday

Job cuts at Citi, Deutsche Bank show the future has arrived on Wall Street

Both executives were speaking in 2017, and while they may have been early, their predictions are beginning to pan out