US-based HR-tech company Namely has reportedly downsized 40% of its staff including some senior level executives and CxOs. According to a TechCrunch report, the eight-year-old startup has laid off over 400 employees or 40% of its workforce. The cuts are across the board, from high-ranking staffers, including a CFO who was brought on almost exactly two…
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…
While the coronavirus pandemic has led to a surge in consumption of online streaming platforms, Singapore-based Hooq recently announced that it is filing for liquidation and has shutdown its services. According to a TechCrunch report, the five-year-old on-demand video platform has reportedly terminated its partnerships with Disney’s Hotstar, Grab and Indonesia’s VideoMax. A joint venture…
The coronavirus pandemic has brought us on the verge of a global recession. Some sectors of the economy are looking at a crisis, which would take years to recover. Among these are airline and travel industry. With governments imposing travel restrictions and nationwide lockdowns the airline industry has come to a standstill. Airline companies have…
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…
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,…
London-based multinational investment bank HSBC recently announced that it has put on hold the plan to cut 35,000 jobs. The bank said that the decision to put job cuts on a halt was because it does not want to leave staff unable to find work elsewhere during the ongoing coronavirus pandemic. Earlier in February, HSBC…
Giving a relief to students fearing an unemployment crisis due to coronavirus pandemic, NIT Warangal recently announced that its students have received plum job offers with 732 of them securing placements. According to a statement released by the institute, the students received a salary package as high as ₹43lk in the recently concluded placement drive.…
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…
Retail giant Walmart’s tech arm Walmart Labs is reportedly planning to hire about 2,800 employees in India this year. According to a report by the Times Of India, the company will hire around 800 employees for operations in Chennai and another 2000 employees will be hired for joining the Bengaluru center. In Chennai, where it…
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,…
At a time when many companies have hit a pause on hiring, and words like furloughs, pay cuts and job cuts are doing the rounds, French IT services firm Capgemini recently said that it will continue to digitally onboard new employees in India. According to a report by Livemint, the French IT major has said…
In a very surprising move, online lending marketplace LendingClub recently announced the termination of its President Steve Allocca. Though a lot of job cuts are happening throughout the world, the firings so far were only limited to medium or junior level employees. The recent decision to terminate the serving President by the company is a…
Adding to the unemployment crisis caused by coronavirus pandemic, online lending marketplace LendingClub Corp recently announced that it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs. The layoffs represent roughly a third of the company’s total workforce of 1,538 people as of Dec. 31, 2019.…