Page 37 - Layoff
No employee will lose job, says Air India, but cuts allowances by up to 50%
On Wednesday, Air India announced reduction in the allowances of its employees, who have a monthly gross salary of more than Rs 25,000, by up to 50 per cent
 "No employee will lose job, says Air India, but cuts allowances by up to 50%")
LinkedIn slashing about 960 jobs globally amid Covid-19 pandemic
The company, which is part of tech giant Microsoft, has about 1,200 employees in India. It also has a development centre in Bengaluru.
 "LinkedIn slashing about 960 jobs globally amid Covid-19 pandemic")
JSW to idle Ohio facility in US, sends lay-off notices to 160 workers
Sources said that the lay-off could be temporary and the company hoped that it would last less than six months. Questions sent to JSW Steel went unanswered
 "JSW to idle Ohio facility in US, sends lay-off notices to 160 workers")
Over half of Indian firms 'vulnerable' on wage payments, says Crisil
Ashu Suyash, the MD and CEO of the agency, said it has done an analysis of 40,000 companies having a collective wage bill of Rs 12 trillion, which revealed the grim situation.
 "Over half of Indian firms 'vulnerable' on wage payments, says Crisil")
UK factories increasingly plan lay-offs, to recover from Covid-19: Survey
The survey showed only a slight improvement in gauges of revenue and new orders
 "UK factories increasingly plan lay-offs, to recover from Covid-19: Survey")
These co-living startups are helping tenants sail through Covid-19
Firms are waiving the rent of those who have lost their jobs during the pandemic
 "These co-living startups are helping tenants sail through Covid-19")
Covid-19 impact: Lufthansa says 22,000 jobs could go in costs purge
The carrier may also face a fare war with European discounters led by Ryanair Holdings and years of sluggish demand on usually money-spinning long-haul routes.
 "Covid-19 impact: Lufthansa says 22,000 jobs could go in costs purge")
After long stint, retrenched Raymond staff stare at tough legal battle
Company denies retrenching 'workers', says cost rationalisation has impacted some managerial positions
 "After long stint, retrenched Raymond staff stare at tough legal battle")
Covid-19 crisis: BP plans to slash 10,000 jobs as debt up by $6 bn in Q1
European competitor Royal Dutch Shell Plc is said to be offering voluntary redundancies in a bid to become leaner, and US rivals Chevron Corp. and Marathon Oil Corp. are among others laying off staff
 "Covid-19 crisis: BP plans to slash 10,000 jobs as debt up by $6 bn in Q1")
Unemployment rate falls to 5.8% in 2018-19 from over a four-decade high
The unemployment rate in 2017-18 had risen to 6.1%, compared to 2.2% in 2011-12, according to the results of the Periodic Labour Force Survey released by the National Statistical Office.
 "Unemployment rate falls to 5.8% in 2018-19 from over a four-decade high")
Amara Raja Group announces pay cut to employees amid Covid-19 crisis
Amara Raja Group Promoters holding the office of Managing Director in various businesses have voluntarily agreed for up to 50 per cent reduction in their total remuneration for the current fiscal
EasyJet to cut a third of workforce as Covid-19 pandemic hits travel
The airline said it expects to have reduced its fleet size by around 51 aircraft to approximately 302 by the end of September.
 "EasyJet to cut a third of workforce as Covid-19 pandemic hits travel")
BookMyShow to sack 270 employees to cut costs amid Covid-19 crisis
The employees being sent on furloughs or leave (without pay) will be eligible for all medical insurance, gratuity and other benefits as per their employment standards.
 "BookMyShow to sack 270 employees to cut costs amid Covid-19 crisis")
Covid-19 crisis: India Inc reaches for pink slips as cash flow dries up
Senior staff of all the top groups have taken salary cuts up to 20 per cent to preserve jobs at the bottom of the pyramid.
 "Covid-19 crisis: India Inc reaches for pink slips as cash flow dries up")
BookMyShow lays off, furloughs 270 employees to cut costs amid low revenues
He said the company has tried to do it best to offer financial support, continued health insurance cover and outplacement support for those impacted by the downsizing exercise
Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis
Most of the reductions will take place this year, according to an internal memo said.
 "Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis")
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")
IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis
V Vaidyanathan, managing director and chief executive, will take 30 per cent cut in his compensation, including fixed compensation as well as all allowances.
 "IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis")
Covid-19 lockdown: Airlines go for cuts again as grounding may extend
With indications of a longer period of air transport grounding, many airlines are looking at further cuts in employee salary.
 "Covid-19 lockdown: Airlines go for cuts again as grounding may extend")
Ola follows Uber, lays off 1,400 staff as Covid-19 hits ride-hailing biz
Ola's revenue has come down 95% in the past 2 months because the disruption caused by the coronavirus.
 "Ola follows Uber, lays off 1,400 staff as Covid-19 hits ride-hailing biz")