Novartis India is planning to layoff 170 employees as part of its workforce rationalization due to the COVID pandemic. “The layoff plan has been drawn as part of ‘fit for future’ project. The communication to identified employees will be made by March 31,” as shared by a senior executive. A spokesperson of Novartis informed, “Novartis…
Clariant, a sustainable and innovative specialty chemical company, has announced its plans to cut 1,000 positions in service and regional structures as part of its rightsizing program. “The Group plans to rightsize regional organizations and service units in order to avoid remnant cost, thereby reducing complexity and increasing agility post the expiration of transitory service…
American online travel company TripAdvisor recently announced that it has decided to lay off 900 employees or 25% of its global workforce due to the impact on travel industry because of the coronavirus pandemic. In a blog post, TripAdvisor CEO and Co-Founder Stephen Kaufer announced that the company would be reducing its workforce in light…
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…
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…
Social commerce startup Meesho has reportedly laid off more than 200 employees of its 700-strong workforce. According to a recent report by the news website Entrackr, in an attempt to conserve cash during the pandemic, the startup has laid off over 200 employees just days after entering into the grocery delivery business. According to the…
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…
The novel coronavirus pandemic has crippled the entire travel and hospitality industry. With a complete lockdown enforced in countries around the world and travel bans put in place by governments and organizations, all travel-related businesses have to come to a halt. The hospitality industry is suffering so badly that it has now resorted to layoffs…
New York-based global tech travel firm Fareportal has reportedly laid off about 200 employees from its Gurugram and Pune offices amid the ongoing coronavirus pandemic. The novel coronavirus pandemic has crippled the travel industry forcing companies to run for their money and conserve as much capital as they can. This has led travel companies to…
Future Group, the Kishore Biyani-led company, has decided to scale down its e-commerce venture Retail 3.0. In a bid to restructure its e-commerce business, the company has laid off about 400 people. According to a report by LiveMint, the layoffs are from roles in sales, product development, marketing, and ground operations. The company had recently…