The largest airline in the US, Southwest Airlines, has announced that it is planning to lay off at least 6,800 workers. This will be the first involuntary job cuts in the 49-year long history of the carrier.
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…
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…
United Kingdom’s flag carrier British Airways, which earlier said that it needs to cut 12,000 jobs and handover pay cuts to cabin crew, has now reportedly laid off 350 pilots. According to a report by The Sun, the airline has reached a deal with its pilots that will see 350 laid off and another 300…
British luxury department store Harrods recently said that it is planning to cut about 672 jobs due to the impact of the coronavirus pandemic. The store’s flagship branch on Brompton Road in Knightsbridge, London was closed for about three months amid the COVID-19 pandemic and subsequent lockdowns. The store which is now owned by the…
British low cost airline easyJet recently said that it is considering closing down three of its airport bases because of the impact on the travel industry due to the coronavirus. The budget carrier said in a statement that it could close bases at London Stansted, London Southend and Newcastle airports as part of wider cost…
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…
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…
The Royal Bank of Scotland has initiated a major restructuring exercise in its overseas investment banking operations which might lead to massive layoffs. According to a Reuters report, the move is expected to affect about a quarter of RBS employees in the United St Citing sources from the bank, the report said that the lender…
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”…
Finnish telecom equipment maker Nokia is reportedly planning to lay off about 1,233 jobs at its French subsidiary Alcatel-Lucent International. The move is expected to affect a third of the company’s workforce. The recent announcement from the 5G equipment maker comes in the wake of Europe’s transitioning to the 5G networks for mobile internet. The…
The automobile industry has been facing several issues in the smooth running of businesses due to the coronavirus impact. While many car companies have resumed manufacturing and business operations at factories and offices around the world, the past few months have been tough on the books for the entire industry. Luxury automobile manufacturers on the…