Just weeks after announcing massive job cuts across the global, British Petroleum has said that it will hire about 2,000 employees for its upcoming global business service center in Pune. Earlier the company had said that it will lay off 10,000 employees from its global workforce. Announcing the development, the oil giant said that the…
London-based multinational investment bank HSBC recently said it is resuming plans to cut around 35,000 jobs which it put on hold after the coronavirus outbreak. The company has also said that It will also maintain a freeze on almost all external hiring. The decision was announced by Chief Executive Noel Quinn said in a memo…
Sweedish automobile manufacturer, AB Volvo recently said it plans to cut its white-collar workforce by around 4,100 positions during the second half of 2020 due to the effects of the COVID-19 pandemic. The recent development at Volvo follows a similar measure taken by fellow truck maker Scania to reduce jobs due to the coronavirus pandemic.…
Indian automobile company and owner of Jaguar Land Rover, Tata Motors is reportedly planning to cut 1,100 temporary jobs as it moves ahead with cost-cutting measures as the coronavirus pandemic hits at the company’s revenues. Tata Motor’s Chief Financial Officer PB Balaji recently said that Tata Motors expects to save 5 billion pounds in costs…
German charter airline company Condor will slash up to 25% of its workforce to reduce costs and recover its business which is severely impacted by the coronavirus pandemic. The announcement was made by the airline’s Chief Executive Officer Ralf Teckentrup while speaking to German newspaper Frankfurter Allgemeine Sonntagszeitung weekly. “Like other airlines, we will have…
San Francisco-based fintech startup Synapse is reportedly laying off 50% of its full-time workforce. According to a Forbes article citing an estranged employee, the company terminated 68 employees from its 130 strong workforce over a Zoom call. Founded by Sankaet Pathak, the company makes digital banking software for other fintechs, letting them quickly launch features…
Construction and earthmoving equipment manufacturer JCB India recently said that it has laid off about 400 permanent employees in order to align its workforce with the decline in demand due to the pandemic. As per a PTI report, the company said that the demand for its products dropped by a whopping 80% during May and…
German airline Lufthansa recently said that it might have to cut 22,000 jobs due to impact on business caused by the coronavirus pandemic. “The recovery in demand in the air transport sector will be slow in the foreseeable future,” the airline said. Speaking after a meeting with trade unions, a Lufthansa spokeswoman said the airline…
British luxury car manufacturer Bentley Motors recently announced that it is planning to lay off a quarter of its workforce, or about 1,000 jobs due to the impact of the coronavirus pandemic on the automobile industry. With the recent announcement, Bentley is the latest premium British firm to make significant job cuts following the coronavirus…
Canadian airplane and train manufacturer, Bombardier Inc recently announced that it would cut about 2,500 jobs or 11% of its aviation workforce. According to a Reuters report, the recent decision by the company is a direct result of the pandemic impacting the airline industry. The aviation industry has been among the worst hit by the…
Gulf-based air carriers Emirates and Etihad have recently said that they are extending the period of reduced pay for employees till September as both the companies attempt to save cash amid the coronavirus crisis. Both the companies have during the lockdown operated a limited number of flights, mostly outbound services from the UAE. The airlines…
Textile and apparel manufacturer Raymond has recently laid off about hundreds of employees across departments in a cost-cutting drive amid coronavirus pandemic. According to a Business Insider report based on a viral Reddit blog post, the layoffs began as early as February as the group debt was already too high and a slowing economy was…
World’s largest public relations firm Edelman recently announced that it is reducing its global workforce by 7% as the coronavirus pandemic impacts business severely. The recent development comes just three months after CEO Richard Edelman promised employees of secured jobs during the pandemic. In a virtual town hall to staff, Richard said the consultancy is…
Non-banking financial company Home Credit India recently said that it has laid off about 1,800 employees due to the current coronavirus pandemic. The company through an official statement said, “The unprecedented coronavirus pandemic has affected every aspect of our life. It has impacted each one of us, our families, our customers, partners and businesses. These…
Indonesia’s flag carrier Garuda recently announced that it has laid off pilots as it continues to battle the slow revenue growth caused by the coronavirus pandemic. A senior official from the State-Owned Enterprises Ministry, Arya Sinulingga, said they support the decision taken by the Garuda management. “It was a difficult choice to make, but we…