Indian food delivery unicorn Zomato recently announced that it is set to lay off about 13% of its workforce due to the coronavirus pandemic’s impact on business. The job cuts and temporary pay cuts for employees were announced by the company founder and Chief Executive Officer Deepinder Goyal through a blog published on the company…
United Airlines is reportedly looking to slash at least 3,400 management and administrative positions in October due to the slump in air travel demand amid the coronavirus pandemic. According to internal memos sent by the company to employees, accessed by Reuters, the company informed its staff about the possible job cuts, including the flying team.…
British multinational engineering company Rolls-Royce Holdings Plc is reportedly planning to cut 15% jobs as the airline industry globally struggles to tide over the ongoing coronavirus crisis. According to a Financial Times report, senior executives of the aero-engine maker have begun work on a restructuring plan that would shrink the 52,000-strong workforce by up to…
Britain’s flag carrier British Airways is reportedly planning to cut as many as 12,000 jobs in response to the coronavirus crisis. Stating that the passenger numbers will take years to recover due to the pandemic, its owner International Consolidated Airlines Group announced the news on Tuesday. IAG, which also owns Iberia, Aer Lingus, and Vueling,…
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…
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…
WestJet, a Calgary-based airline has announced that the company will further lay-off 3,000 of its workers in early May as demand for flights craters amidst the COVID-19 pandemic. Earlier in March, the company laid off 6,900 of its workers amid a dramatic downturn in business because of COVID-19. The number of people who lost their…
Layoffs have now become a common practice to conserve cash amid the coronavirus pandemic. Even though the governments have repeatedly asked organizations to not resort to job cuts, companies are rapidly laying off staff. Recently, another IT-BPO company Amdocs laid off about 150 employees amid the coronavirus crisis, leaving employees stranded and helpless in such…
As the coronavirus pandemic continues to impact the lives of many people around the world in numerous ways, businesses that have seen their sales funnels and cash flows depleting are taking strong measures to ensure the survival and continuity of business. Shop101, a Mumbai-headquartered social commerce company has asked nearly 40% of its 450 employees…
TCS, India’s largest software exporter, has said that it will not retrench any of its nearly 4.5 lakh employees, but has decided not to give any salary hikes this year, according to a report. The Tata group company has commented on new hires that it will keep 40,000 people who have been given offers on…
The coronavirus pandemic has impacted several jobs globally with nearly 10 mn people filing for unemployment benefits in America alone. The pandemic has forced businesses to close operations and employees have been sent on furloughs for indefinite periods. The International Labour Organization has predicted that globally around 2.5mn jobs would be lost due to the…
Raghav Bahl-owned digital news website The Quint has recently asked about 45 employees to go on an indefinite leave without pay, according to various news reports. As per a report by news website Newslaundry,the estranged staff include reporters, one of whom recently won a prestigious journalism award, copy editors, a bureau chief, production staff, and…
Yelp, a San Francisco-based company connecting people with local businesses from restaurants, boutiques and salons to dentists, mechanics, plumbers and more has announced that it has laid off 1,000 employees and furloughed an additional 1,100 workers as the company struggles with reduced spending from restaurants. The news about downsizing its workforce amid the coronavirus pandemic…
The coronavirus pandemic and the subsequent government-imposed 21-day nationwide lockdown have deeply impacted the domestic economy, with a majority of firms expecting a significant decline in their top line and bottom line in the current and previous quarters, demand to decline and jobs getting impacted, according to a CEOs’ Snap Poll conducted by the Confederation…
As the coronavirus pandemic takes a toll on businesses around the globe, job cuts have started to become a common cost-cutting measure by organizations. Recently, according to a BBC report, British Airways is expected to announce the suspension of about 36,000 staff. It is being reported that International Airlines Group-owned British Airways has reached a…