In order to sustain the current crisis, Softbank-backed Oyo Hotels & Homes is extending furloughs for some of its Indian employees by six months, Oyo said. The move is in line with the rising coronavirus cases in the country, creating uncertainty on the reopening of hotels in the near future. “Recovery in business was taking…
European plane manufacturer Airbus recently announced that it is extending furlough programs for 5,300 of its employees in Spain and the UK in its latest attempt to cope with the impact of the coronavirus pandemic. “This will be effective from 20th May till 30th September and affects all Airbus Operations SL employees in Spain (with…
London-based multinational investment bank HSBC recently said it is resuming plans to cut around 35,000 jobs which it put on hold after the coronavirus outbreak. The company has also said that It will also maintain a freeze on almost all external hiring. The decision was announced by Chief Executive Noel Quinn said in a memo…
Luxury hotel chain Hilton Worldwide recently said that it would reduce its corporate workforce by 22% due to the impact of the coronavirus pandemic on the hospitality industry. The move is expected to impact about 2,100 employees globally. The hospitality industry has been amongst the worst affected due to the coronavirus pandemic and subsequent lockdowns.…
Singapore-based hospitality group Banyan Tree Holdings recently announced that it is undertaking “right-sizing” and restructuring to adapt to post-covid-19 industry outlook. In an exchange filing, the company said that it is undertaking a series of right-sizing and cost-saving exercises that has affected 10 to 15% cent of its global workforce. The development was first reported…
Cloud-computing company Nutanix has reportedly confirmed furloughing a total of 1,465 employees in the United States, nearly 25% of the company workforce globally. According to a report by CRN, the company is reducing headcount due to “uncertain business conditions” stemming from the coronavirus pandemic. Speaking to the news website CRN, the company said that it…