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…
JPMorgan Chase & Co. is planning to dismiss hundreds of employees from its consumer unit in an attempt to rein in costs. According to a Livemint report citing unidentified sources, the bank plans to notify the affected employees on February 6 and the job loss will be scattered across divisions. JP’s consumer unit houses deposits,…
Barclays Plc has plans to cut about 100 senior jobs that are mostly related to trading roles across its corporate and investment bank, as the British lender seeks to rein in costs. Barclays has started trimming managing director and director positions, mainly in London and Asian financial hubs. The fact got confirmed by people familiar…
In India about 1.2 crore people enter the workforce every year but the pace of job creation remains far below than what is needed, even though the economy is growing at over 7 percent.
Cab aggregator Ola is in the process of laying off some of its employees to cut down losses. The layoffs include senior managers as well as mid-level employees. As per a report in Entrackr, the company is in the process of laying off 20 percent of its employees. The layoffs are part of the company’s measures…
Jet Airways, the major Indian international airline based in Mumbai has reportedly fired 20 employees including some senior-level executives to curtail costs. Its reported that the loss-making airline had recently asked 15 of its managerial level employees from various departments including engineering, security, and sales, to leave the company. Earlier, Naresh Goyal-promoted Jet Airways has delayed payment of…
Cognizant, a multinational corporation that provides IT services, including digital, technology, consulting, and operations services has asked 200 of its senior level employees to resign their job. The reason behind firing is believed to be Cognizant’s focus on “newer digital requirements”, the Times of India reported, adding the company would bear around $35 million in…
Ford Motor Company, the second-largest American multinational automaker headquartered in Dearborn, Michigan has announced on Friday to its 70,000 salaried employees that they will face unspecified job cuts globally as part of the automaker’s $11 billion restructuring. On July 25, Ford’s Chief Executive Officer Jim Hackett announced that the company is planning on a restructuring but,…
Finland based telecommunications and consumer electronics company Nokia has cut 250 jobs at its site in Naperville, United States, and it is speculated that another 250 workers will lose their positions, a report by Crain’s Chicago Business said late on Monday. A Nokia spokesman confirmed to New York Times that jobs had been cut as part…
AstraZeneca has come out with its list of strategic priorities while the company plans a return to growth and achieve scientific leadership. The actionables being announced during the investors day briefing , introduces a series of measures that would lead to efforts and resources getting rightfully directed towards the businesses priority growth platforms…
Loop Telecom, is next in line of the operators winding up their operations post cancellation of 2G licenses by the Supreme Court. Earlier S-Tel, and Etisalat decided to wind up their operations. Loop Telecom would however maintain its operations in Mumbai, where in it has a separate license held by Loop Mobile and has a…