Tag: layoffs

Software company Amdocs to lay off hundreds of employees

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…

British luxury department store Harrods to layoff 700 employees

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…

Coronavirus Impact: Bounce lays off 130 employees due to decline in business

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…

Nike to layoff employees; shift focus on online retail

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…

Coronavirus Impact: Macy’s to cut 3,900 jobs to conserve cash

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.…

Coronavirus Impact: Gojek lays off 430 employees

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”…

Nokia to lay off 1,200 employees at Alcatel-Lucent

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…

BMW might lay off 10,000 contract workers due to coronavirus impact

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…