Just months after it laid off 1100 employees across various markets in May, food tech unicorn Swiggy recently announced that it has decided to let go of another 350 employees, in what is being termed as the second wave of layoffs at the company. According to the foodtech giant, the industry has recovered only to…
France’s flag carrier Air France recently confirmed plans to cut about 7,500 jobs including 1,000 at its sister airline HOP!, amid protests from staff over its response to the collapse in travel due to the coronavirus pandemic. The French airline, part of Franco-Dutch group Air France-KLM, said it had lost 15mn euros a day during…
Israeli software giant Amdocs is reportedly laying off about 1,000 employees in Israel and globally due to the impact of the coronavirus pandemic. According to a report by news website Calcalist, with $691mn of Amdocs’s $1bn quarterly income coming from U.S. clients and the uncertainty surrounding the financial recovery in the world’s largest economy due…
Ireland-based multinational professional services company, Accenture will reportedly cut upto 900 jobs in the United Kingdom. According to a Guardian report, the consultancy firm is set to lay off about 900 employees in the UK to reduce costs as the coronavirus pandemic lowers demand for its services. The company employs 11,000 people in offices across…
European aerospace company, Airbus recently said that it is finalising a restructuring plan which would include massive job cuts. Airbus plane output will be 40% lower for two years compared to pre-crisis plans,confirmed the company Chief Executive while speaking to a newspaper. According to a Bloomberg report, Europe’s largest plane manufacturer Airbus SE is meeting…
The coronavirus pandemic has impacted several businesses worldwide leading to layoffs across industries. In a recent development, Bengaluru-based two-wheeler rental startup Bounce announced that it has decided to lay off around 22% of its workforce or about 130 employees due to the impact of Covid-19 on the mobility industry. Announcing the decision through a company…
World’s largest footwear maker, Nike recently warned its employees of possible job cuts as the company shifts its focus towards online shopping. The recent development from the company comes just days after it posted a net loss of $790mn, its first in more the two years. The company attributed the loss in part to the…
Major US airline company Delta Air Lines recently said that it will soon send warning notices to about 2,500 pilots regarding possible furloughs at the airline. The recent announcement from the company as the airline industry is taking huge blows after the coronavirus pandemic slashed air travel demand. “In an effort to best prepare our…
US-based department store chain, Macy’s recently said that it will lay off about 3,900 employees in an attempt to save cash due to the weak demand caused by the coronavirus pandemic. The reported job cuts are likely to be from corporate and management positions. The company currently has a strong workforce of about 123,000 employees.…
Australian flag carrier Qantas Airways Ltd is reportedly planning to lay off 20% of its employees and raise up to $1.3bn of equity under a cost-saving plan prompted by the coronavirus pandemic. The move is expected to affect about 6,000 employees of the airline’s 29,000 strong workforce. Around half of the job cuts will be…
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…
Indonesia-based tech startup Gojek recently announced that it is laying off about 9% of its total workforce amid the coronavirus pandemic. The recent downsizing exercise at the company is expected to affect about 430 employees. In an official statement, the company said that the layoffs are part of a “long-term response to the Covid-19 pandemic”…
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.…
Sweedish automobile manufacturer, AB Volvo recently said it plans to cut its white-collar workforce by around 4,100 positions during the second half of 2020 due to the effects of the COVID-19 pandemic. The recent development at Volvo follows a similar measure taken by fellow truck maker Scania to reduce jobs due to the coronavirus pandemic.…