Page 6 - Job Cuts
Broadcom to cut almost 1,300 VMware jobs in California after takeover
Broadcom, whose other operations include making chips used by companies including Apple Inc. and Alphabet Inc.'s Google, will report earnings next week
 "Broadcom to cut almost 1,300 VMware jobs in California after takeover")
Tata Steel cuts 800 jobs in the Netherlands to increase profitability
"Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done," the company said in a statement
 "Tata Steel cuts 800 jobs in the Netherlands to increase profitability")
Gharwapsi: India Inc taps former talent pool to fill executive positions
There has been a growth in the number of boomerang employees over the last few months; experts say the trend of 'great resignation' has now evolved into the 'great regret'
 "Gharwapsi: India Inc taps former talent pool to fill executive positions")
Maersk Group to cut at least 10,000 jobs as shipping boom unravels
The company kept its full-year guidance for revenue and operating profit but now expects both to land at the lower end of the range
 "Maersk Group to cut at least 10,000 jobs as shipping boom unravels")
Asia largely spared from global job cuts, says Barclays CEO Venkatakrishnan
"It is a reduction in workforce generally speaking," CEO C.S. Venkatakrishnan said in a Bloomberg TV interview Thursday in Singapore"
 "Asia largely spared from global job cuts, says Barclays CEO Venkatakrishnan")
Rolls-Royce plans to cut 2,500 jobs as CEO extends efficiency push
Erginbilgic is driving his turnaround effort deeper into the company after already switching some key management positions, including the head of the civil engine subsidiary
 "Rolls-Royce plans to cut 2,500 jobs as CEO extends efficiency push")
US Federal Reserve cutting staff after more than a decade of payroll growth
A Fed spokesperson said the cuts are focused on the staff of the U.S. central bank's 12 regional reserve banks and mainly hit information technology jobs
 "US Federal Reserve cutting staff after more than a decade of payroll growth")
Citigroup warns UK staff of cuts as hundreds of roles could be affected
Bankers have been bracing for change after CEO Jane Fraser said earlier this month that Citigroup, the third-largest US
 "Citigroup warns UK staff of cuts as hundreds of roles could be affected")
Delhi's municipal corporation removes 2,181 positions across 14 departments
The decision came after an independent third-party audit by EY. Officials confirm that there will be no layoffs
 "Delhi's municipal corporation removes 2,181 positions across 14 departments")
Amazon cuts jobs in its Fresh Grocery stores as it aims to rein in costs
Amazon is cutting jobs in its Fresh Grocery stores as part of a restructuring plan in the US. The company confirmed Thursday that its eliminating zone lead roles, a lower-level management position in its grocery stores that, among other things, oversees associates and deals with customer issues. Amazon did not disclose how many employees would lose their jobs as a result. The Washington Post had reported late Wednesday that hundreds of Fresh employees would be let go. Like any retailer, we periodically assess our stores' organizational needs and make decisions to increase efficiencies for our employees and deliver customer value, Amazon spokesperson Jessica Martin said in a prepared statement. As a result, we've decided to evolve our in-store staffing and operations model to better serve our customers and teams. The retailer said it will work with affected employees to help them find new roles within the company and employees who leave Amazon will be given severance. Amazon operat
 "Amazon cuts jobs in its Fresh Grocery stores as it aims to rein in costs")
Anheuser-Busch lays off hundreds of US corporate workers after sales slump
Anheuser-Busch, the maker of Bud Light, confirmed this week is laying off hundreds of positions across its US corporate staff. In a statement to The Associated Press, the beer maker said the layoffs will impact less than 2 per cent of its workforce. Anheuser-Busch's website says the company employs 19,000 employees nationwide. Warehouse staff, drivers and other frontline employees will not be affected, the company said. The job cuts arrive during a rocky time for Anheuser-Busch, which has seen a months-long sales decline for Bud Light since April when conservative critics vowed to boycott the brand after the brewer sent a commemorative can to transgender influencer Dylan Mulvaney. Bud Light has also faced backlash from Mulvaney's supporters and LGBTQ+ rights groups, who say the brand didn't do enough to support her. Mulvaney later shared that she felt abandoned by Bud Light, and faced more bullying and transphobia than I could have ever imagined" over the partnership. Bud Light is
 "Anheuser-Busch lays off hundreds of US corporate workers after sales slump")
Saarthi.ai fires employees in batches, withholds salaries; cites 'pressure'
Bengaluru-based AI tech support startup Saarthi.ai has fired some employees buckling under "investor pressure" to become profitable, and has allegedly withheld salaries of several employees since March 2023. While an employee took to a social media platform to claim that withholding of salaries has affected a substantial chunk of staff, the numbers could not be independently verified. Responding to queries, Founder and CEO Vishwa Nath Jha said the company has "let go" of employees in batches owing to "investor pressure" to become profitable, but declined to divulge the number of employees affected by the move. "Our team has been restructured in light of technological advancement and many team members were let go in batches as a result. We had to automate low level professional cognitive skills of our staff due to investor pressure to become profitable," he told PTI. Addressing concerns of withholding salaries, he said that the full and final settlement for early batches of the ...
 "Saarthi.ai fires employees in batches, withholds salaries; cites 'pressure'")
At halfway mark, more technology sector layoffs in 2023 than in 2022
Bengaluru is worst-affected among cities, even as it continues to top start-up fundraising
 "At halfway mark, more technology sector layoffs in 2023 than in 2022")
National Geographic lays off last writers, will not be sold in US anymore
National Geographic layoffs: Job cuts by Disney, the publication's parent company, were the second over the past nine months
 "National Geographic lays off last writers, will not be sold in US anymore")
Goldman starts cutting number of MDs across the globe amid deals slump
The moves are part of a deep cost-savings drive at the bank, which has seen at least three rounds of job cuts in less than a year
 "Goldman starts cutting number of MDs across the globe amid deals slump")
Grab slashes 1,000 jobs in biggest round of job cuts since pandemic
Grab CEO Anthony Tan said that the layoffs were not a "shortcut to profitability"
 "Grab slashes 1,000 jobs in biggest round of job cuts since pandemic")
Inside the mind of a firing manager: Guilt, shame and many questions
Therapists says those who had to fire someone narrated experiencing a sense of helplessness; some even had anxiety and trouble sleeping
 "Inside the mind of a firing manager: Guilt, shame and many questions")
Britain witnesses recession and flood of job losses if rates hit 6%
The UK has so far weathered the cost of living crisis without falling into recession
 "Britain witnesses recession and flood of job losses if rates hit 6%")
Oracle lays off hundreds of employees at its health unit Cerner: Report
In May, another media report said that Oracle had laid off 3,000 employees at Cerner
 "Oracle lays off hundreds of employees at its health unit Cerner: Report")
Automotive digital marketplace TrueCar lays off 24% of its workforce
"The restructuring announced today better aligns our cost structure with our revenue base and is designed to make TrueCar a nimbler, more efficient company"
