Data storage company Seagate Technology recently announced that it is laying off 500 employees across 12 countries as part of a cost cutting strategy. The laid off employees make up about 1% of the company’s global workforce, according to a regulatory filing. The development was first reported by the Business Journal. However, when the news…
Textile and apparel manufacturer Raymond has recently laid off about hundreds of employees across departments in a cost-cutting drive amid coronavirus pandemic. According to a Business Insider report based on a viral Reddit blog post, the layoffs began as early as February as the group debt was already too high and a slowing economy was…
World’s largest public relations firm Edelman recently announced that it is reducing its global workforce by 7% as the coronavirus pandemic impacts business severely. The recent development comes just three months after CEO Richard Edelman promised employees of secured jobs during the pandemic. In a virtual town hall to staff, Richard said the consultancy is…
Non-banking financial company Home Credit India recently said that it has laid off about 1,800 employees due to the current coronavirus pandemic. The company through an official statement said, “The unprecedented coronavirus pandemic has affected every aspect of our life. It has impacted each one of us, our families, our customers, partners and businesses. These…
Indonesia’s flag carrier Garuda recently announced that it has laid off pilots as it continues to battle the slow revenue growth caused by the coronavirus pandemic. A senior official from the State-Owned Enterprises Ministry, Arya Sinulingga, said they support the decision taken by the Garuda management. “It was a difficult choice to make, but we…
Airplane manufacturer Boeing recently announced that it is going ahead with a downsizing exercise as coronavirus pandemic severely impacts the airline industry. The company said that it is eliminating more than 12,000 jobs in the United States, including 6,770 involuntary layoffs. The company also disclosed it plans “several thousand remaining layoffs” in coming months but…
The travel industry has been in a soup since the coronavirus outbreak. With governments imposing lockdowns and travel restrictions, the industry is getting severe blows from all sides. While experts have predicted that major organizations will survive the crisis, startups were looking at a dead-end. Several travel-related startups have laid off significant numbers of employees…
Since the lockdown began in India in March, online entertainment and gaming platforms have seen a sharp increase in their user database and consumption. The growing demand and popularity of such platforms have forced companies to expand teams to cater to the audience smoothly. One such company is online gaming platform Baazi Games. The company…
EmpMonitor, an employee monitoring SaaS platform, recently announced that it is planning to ramp up hirings and will hire about 100 people by the end of the year 2020. EmpMonitor is a global provider of employee monitoring, insider threat prevention, and data loss prevention software solutions. The company said in a statement that the new…
Traditional jobs have all been under the fear of getting replaced by the new-age technologies. Automation at manufacturing has already cut several jobs and employee unions worldwide have been vocal about the impact of automation on livelihoods. But organizations have always backed such technologies to reduce manpower cost, increase efficiency and cash on profits. In…
Dubai-based world’s largest long-haul airline, Emirates recently announced that it has laid 180 trainee pilots due to the impact of coronavirus pandemic. The company also pointed out that there may be more layoffs if the situation continues to worsen. We reviewed all possible scenarios in order to sustain our business operations, but have come to…
As job losses across industries have increased due to the coronavirus crisis, Delhi-based logistics SaaS platform, FarEye announced that it has expanded its manpower with remote hiring by over 12%. The recruitment is fuelled by the surge in usage of FarEye’s platform for delivering essential goods amid the lockdown. The company has successfully maintained and…
British low-cost airline easyJet is planning a layoff of up to 4,500 jobs and shrinking its fleet to adjust to the smaller travel market, which is forecast to not emerge from the coronavirus crisis anytime soon. EasyJet employs about 15,000 people in eight European countries, the latest airline company to announce job cuts due to…
French carmaker Renault recently acknowledged that its global ambitions had been unrealistic and it is going ahead with a restructuring exercise. According to a Reuters report, the automobile manufacturer is planning to cut about 15,000 jobs, shrink production and restructure French plants. Owing to the declining sales due to the coronavirus pandemic, the company announced…
Online ticket booking platform BookMyShow has recently downsized its employee count across offices in India and international markets. The downsizing exercise reportedly impacted about 18% of its workforce or 270 employees. The recent development at the company comes at a time when entertainment businesses like Cinemas, theater and cultural events have to come to a…