Druva, the leader in Cloud Data Protection and Management, announced plans to ramp up its workforce in India within the next 12 months, even as it extends remote working for all employees until the spring of 2021. Since initiating a mandatory remote working policy earlier this year to protect employees and the larger community, Druva…
Internet domain registrar and web hosting company GoDaddy recently announced a restructuring exercise due to the impact of the coronavirus pandemic. The said restructuring plan is expected to affect about 12% of the company’s total workforce or more than 800 employees. The company said that the employees will either be let go or be moved…
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.…
PaisaBazaar, the digital lending arm of PolicyBazaar recently said that it has laid off about 1,500 employees to bring down operational costs as the company’s business struggles due to the coronavirus pandemic. According to a Mint report, the layoffs constitute about half of the company’s workforce and are predominantly from roles involving operations and business…
The novel coronavirus outbreak has pushed the entire world to witness a pandemic, circulating waves of panic across the globe. Due to uncertainty in business owing to the current scenario, businesses are slowing down bringing the growth of the economy to a halt. There has been a sudden slow-down of the economic activities at an…
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…
Palo Alto, Calif.-based VMware has recently confirmed that it has taken several cost-cutting measures affecting its workforce amid the coronavirus pandemic. According to an internal memo, the company said it is conducting a company-wide employee salary freeze as well as temporary salary reductions for top executives, including CEO Pat Gelsinger, due to the uncertainty of…
Ride-hailing giant Uber Technologies recently announced that it has decided to lay off 3,700 employees or 14% of its workforce due to the impact of the pandemic on the company’s business. According to the US SEC filing made by the company on May 2, the company is all set to execute a plan put in…
The hospitality sector is one of the most affected by the ongoing coronavirus pandemic. With travel of any kind coming to a halt and governments imposing lockdowns, companies in the sector are bracing for severe impact. Recently, there has been multiple reports about layoffs and furloughs in the industry by the companies to save cost.…
The ongoing coronavirus pandemic has crippled the world economy to the extent that many are estimating that this could spark a recession worse than the 2008 financial crisis. Many sectors of the economy like travel and airlines have come to a total standstill with the travel restrictions imposed by various governments globally. In an attempt…
After three Mumbai Police personnel above 50 years of age died due to contracting the SARS-CoV-2 virus, Mumbai Police has asked their personnel aged 55 years and above to go on leave. The SARS-CoV-2 virus is responsible for causing the COVID-19 disease. So far the virus has infected about 107 police personnel, including 20 officers…
The coronavirus pandemic has not only affected human interaction but has brought the economy to a complete halt. The impact of the crisis can be seen taking a toll on several new-age startups and SMEs who have now resorted to cost-cutting measures. Companies like OYO, Swiggy, Meesho, Bounce, Udaan, and Paytm have either laid off…
The coronavirus pandemic has impacted normal worklife severely. The global economy came to a halt because of the pandemic and now every business and economist is waiting for it to be over as soon as possible. The decision of imposing nationwide lockdown by the government has now started to take a toll on the GDP.…
The coronavirus pandemic isn’t only affecting people’s health and safety. It is also impacting people’s livelihoods as the virus hits the economy. The pandemic has brought the global economy to a halt. With restrictions on movement, nationwide lockdowns, and closure of businesses, the flow of money has become really slow. The virus has not only…
As per the International Labour Organisation’s prediction, the world will witness a loss of about 2.5 million jobs due to the coronavirus pandemic. Most of these job losses are coming from new-age startups and small scale industries who are being tested the most by the economic situation. After hospitality startups like Treebo and Fab Hotels,…