Page 6 - Job Cuts

SoftBank plans Vision Fund job cuts after record $23.1-bn net loss in Q2

SoftBank was in a bubble on valuations, no sacred areas for cost cuts, says CEO

Walmart cuts 200 corporate jobs as weak demand, bloated inventory weigh

Walmart will also add an unspecified number of jobs in areas such as e-commerce, health and wellness, ad sales and supply chain

Credit Suisse in revival mode, may cut thousands of jobs globally

The bank, which began trimming front line roles in Asia last month, is mulling an aggressive plan to reduce its headcount, which stood at 51,410 at the end of June

Robinhood shares jump 13% after job cuts, smaller-than-feared loss

Analysts welcomed Robinhood's bid to get its expenses under control, suggesting the move could be positive for the company's flailing stock

Canada's Shopify cuts 10% of workforce on slowing online orders

US-listed shares fell 14.7% to $31.29 after the company said it witnessed a pullback in online orders

Credit Suisse considers fresh round of job cuts as losses mount: Report

Discussions among the board of directors and management about a large cost savings package have reached an advanced stage

Amazon-backed Tonal cuts 35% workforce to trim expenses, readjust to demand

Amazon-backed connected fitness equipment maker Tonal is reportedly cutting 35 per cent of its workforce, affecting all levels of its business

Morningstar cuts hundreds of jobs in Shenzhen amid China restructuring

Several hundred people among its 1,000-strong workforce in the southern technology hub have been affected, the Chicago-based financial services company said on Wednesday

Microsoft cuts 1,800 jobs in restructuring, will hire more: Report

The layoffs, affecting less than 1 per cent of the 180,000-person workforce, spanned a variety of groups including consulting and customer and partner solutions

Byju's lays off 500 employees as part of cost-cutting drive: Report

The latest development at Byju's comes as the Indian edtech market is shrinking with reopening of schools, colleges and physical tuition centres

Alibaba, Tencent preparing to cut tens of thousands of jobs this yr: Rpts

The job cuts at the two companies would be their first major layoffs since Chinese regulators launched an unprecedented campaign a year-and-a-half ago to rein in its internet giants

Unilever plans thousands of job cuts as investor Peltz builds stake

The job cuts are likely to number in the low thousands, say sources

Indian factory growth slipped in August, job cutting returned: Survey

Indian factory activity expanded at a slower pace last month as persistent pandemic-related weakness weighed on demand and output, forcing firms to cut jobs again, a private survey showed

US private equity fund Lone Star lays off majority of Asia staff: Sources

Texas-based private equity firm Lone Star Funds has laid off most of its investment team in Asia outside Japan in a major retreat from the region

Exxon Mobil plans to cut US headcount by 5-10% annually for 3 years

The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs

Thai Airways cuts 240 exec positions as part of bankruptcy restructuring

"The number of executive positions has been reduced from 740 to about 500," the airline said in a statement

Jaguar Land Rover to cut 2,000 jobs globally, full review underway

"We anticipate a net reduction of around 2,000 people from our global salaried workforce in the next financial year," it said

Boeing to outsource information technology work to Dell, eliminate 600 jobs

Boeing shed 20,000 jobs companywide last year and has said it needs to cut 11,000 more this year, making it harder for the affected IT employees losing their jobs to find new work in the company

Services PMI rises to 52.8 in Jan on the back of demand, consumer optimism

That improved sentiment was in line with findings of a Reuters poll last month that predicted Asia's third-largest economy would recover from the Covid-19 crisis more strongly than previously thought

Commerzbank's new CEO plans to axe 10,000 jobs in cost-cutting drive

The plan to reduce the workforce by around a quarter and cut the network of branches from 800 to 450 by 2024 will be finalised by Feb. 3, the bank said