Page 8 - Layoff

Boeing issues layoff notices to 400-plus workers as it begins drastic cuts

Boeing has delivered layoff notices to more than 400 members of its professional aerospace labour union, part of thousands of cuts planned as the company struggles to recover from financial and regulatory trouble as well as an eight-week strike by its Machinists union. The pink slips went out last week to members of the Society of Professional Engineering Employees in Aerospace, or SPEEA, The Seattle Times reported. The workers will remain on the payroll through mid-January. Boeing announced in October that it planned to cut 10 per cent of its workforce, about 17,000 jobs, in the coming months. CEO Kelly Ortberg told employees the company must "reset its workforce levels to align with our financial reality". The Society of Professional Engineering Employees in Aerospace, or SPEEA, union said the cuts had affected 438 members. The union's local chapter has 17,000 Boeing employees who are largely based in Washington, with some in Oregon, California and Utah. Of those 438 workers, 218

General Motors laying off nearly 1,000 workers worldwide, most in US

The layoffs come as car company is trying to reposition itself as a leader in electric vehicles and software, which are both costly. GM is aiming to cut $2 bn to $4 bn in losses on EVs next year

Booking.com may face layoffs in restructuring amid rising operational costs

Meanwhile, other brands under Booking Holdings - such as Priceline, Agoda, Kayak, and OpenTable - are not expected to be impacted

Deloitte, EY cut staff in UK amid decline in demand for advisory services

Deloitte recently laid off around 250 advisory staff members in the UK, while EY's annual report on Thursday revealed a reduction of 2,450 employees over the past fiscal year, a first in 14 years

Meta lays off employees across units at WhatsApp, Instagram, Reality Labs

These terminations are separate from the team restructurings and took place last week

After Boeing, Airbus to slash 2,500 jobs amid ongoing financial losses

These job cuts at Airbus, which represent around 7 per cent of its defence and space division's workforce, are expected to be implemented by mid-2026

China's top private firms slash 300,000 jobs despite revenue growth in 2023

China's private economy contributes over half of the country's tax revenues, more than 60 per cent of its gross domestic product, and employs over 80 per cent of urban workers

Boeing to lay off 10% employees as workers' strike cripples production

Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company's best-selling airline planes. New CEO Kelly Ortberg told staff in a memo Friday that the job cuts will include executives, managers and employees. The company had already imposed rolling temporary furloughs, but Ortberg said those will be suspended because of the impending layoffs. The company will delay the rollout of a new plane, the 777X, to 2026 instead of 2025. It will also stop building the cargo version of its 767 jet in 2027 after finishing current orders. Boeing has lost more than $25 billion since the start of 2019. Union machinists have been on strike since Sept. 14. Two days of talks this week failed to produce a deal.

Samsung to slash thousands of jobs as part of worldwide restructuring

The South Korean company has about 147,000 staff overseas, more than half of its total employee of more than 267,800, according to its latest sustainability report

Disney layoffs: Over 300 corporate positions cut amid declining profits

The latest round of layoffs follows Disney's recent 140 job cuts in its TV division, which was 2 per cent of its workforce, as well as 175 layoffs at Pixar, which represents 14 per cent of its staff

Hershey lays off some workers, move affects less than 1% of employees

In a statement related to the layoffs, Hershey said it remains focused on transforming its business

Boeing considers temporary layoffs to save cash during strike by machinists

The company said moves, which include reduced spending on suppliers, were necessary because our business is in a difficult period

Microsoft to cut 650 jobs from its Xbox unit in third layoff this year

Xbox employees had been bracing for further reductions after Microsoft cut 1,900 jobs, many from Activision units and studios, in January

PwC US to cut 1,800 jobs over restructuring, its first layoffs in 15 years

PwC's US unit will lay off around 1,800 workers, its first formal job cuts since 2009, as part of a restructuring process amid decreased demand for certain services, its US leader, Paul Griggs said

Goldman Sachs to lay off up to 1,800 employees amid annual review process

Goldman Sachs' annual review process has historically resulted in workforce reductions of 2 to 7%, depending on financial performance and market conditions

Apple cuts 100 jobs in digital services group as priorities shift

The layoffs included some engineering roles, and the biggest cuts were made to the team responsible for the Apple Books app and Apple Bookstore

General Motors to lay off more than 1,000 software engineers, mostly in US

The moves come two months after former Apple Inc. executives David Richardson and Baris Cetinok were promoted to senior vice president roles in the group

Retail sector slashes 26,000 jobs due to falling demand, expansion halt

The reduction was primarily driven due to Reliance, Titan, Raymond, Page, and Spencers, which cut 52,000 jobs, or 17% of their workforce

Laxman Narasimhan's ouster at Starbucks adds fuel to record-firing pace

Starbucks has posted two straight quarters of comparable sales declines, and its shares had fallen 20 per cent this year before the CEO change

Top-level exits continue in Wipro as CTO Subha Tatavarti steps down

In another high-level exit at IT major Wipro, its Chief Technology Officer Subha Tatavarti has resigned to pursue opportunities outside the company. Tatavarti joined Wipro in April 2021 as the technology head under the then-CEO and MD Thierry Delaporte. During her three-year stint, she led Wipro's GenAI initiatives and introduced Wipro ai360. "Subha Tatavarti, Chief Technology Officer, resigned from the services of the Company to pursue opportunities outside Wipro," a regulatory filing said on Monday. Before joining Wipro, she led different roles at Walmart and PayPal, among others. She was recognised in "Top 100 Executive Women in Tech to Watch" earlier this year by the WomenTech Network. "I am resigning from the post of CTO, Wipro, effective August 16th. Good luck with your journey," Tatavarti wrote in her resignation letter to Wipro CEO Srini Pallia. This is the fourth top-level exit in the last 4 months after Pallia joined the Bengaluru-based firm in April, following Delaporte