Page 39 - Layoff

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.

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.

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.

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.

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

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.

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.

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.

Covid-19 crisis: Indiabulls sacks over 2,000 employees to control expenses

The attrition is in line with the process we follow every year, says company

Covid-19 impact: ShareChat sacks 101 employees amid market uncertainties

In an email to employees, the Twitter-backed platform outlined steps it is taking to 'become leaner and position the company better for the future'

10 well-known companies that laid off staff due to coronavirus

Here is the list of major companies that have said they are downsizing their workforce

Uber cuts 3,000 more jobs, closes offices amid coronavirus outbreak

Combined with the 3,700 employees in customer support and human resources, Uber dismissed earlier this month, the cuts now total about 25% of the total workforce. A spokesman said more cuts could come

Uber to lay off 3,000 workers in second cut for May, trip requests drop 80%

Company says it plans to reduce investments in several non-core projects.

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

Covid-19 crisis: Life insurers look to hedge against policy surrenders

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

Uber to lay off 3,700 employees, 17% of workforce; CEO to forgo base salary

Uber and rival Lyft Inc have been under investor pressure to show profits but the coronavirus-led lockdowns have forced them to cut costs and withdraw their full-year financial outlooks

Virgin Atlantic plans to cut over 3,000 jobs amid coronavirus outbreak

The spread of the novel coroanvirus has virtually brought airports around the globe to a standstill, leaving airlines taking drastic steps to make savings.

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