Page 7 - Job Cuts
Mahindra lays off two-thirds of staff at its North American subsidiary
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency
 "Mahindra lays off two-thirds of staff at its North American subsidiary")
Debenhams set to shut down without alternative offer, threaten 12,000 jobs
Debenhams said it had no choice but to start winding down the business, given the prolonged effects of the pandemic
 "Debenhams set to shut down without alternative offer, threaten 12,000 jobs")
Exxon Mobil slashes capital spending, announces $20 bn oil asset write-down
The company said it was removing gas projects from its plans in Appalachia, the Rocky Mountains, Oklahoma, Texas, Louisiana, Arkansas, Canada and Argentina
 "Exxon Mobil slashes capital spending, announces $20 bn oil asset write-down")
Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad
Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to 2024
 "Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad")
IBM planning to cut about 10,000 jobs in Europe ahead of unit sale
The wide-ranging losses will affect about 20 per cent of staff in the region, according to people familiar with the matter
 "IBM planning to cut about 10,000 jobs in Europe ahead of unit sale")
Danone to cut up to 2,000 jobs, aiming to save $1.2 billion: Report
The world's largest yoghurt company on Monday said these actions would help it save 1 billion euros a year by 2023 and meet a new mid-term margin target.
 "Danone to cut up to 2,000 jobs, aiming to save $1.2 billion: Report")
ThyssenKrupp to slash 11,000 jobs after recording $6.5 bn net loss
Sees another billion-euro deficit after 5.5-bn euro loss
 "ThyssenKrupp to slash 11,000 jobs after recording $6.5 bn net loss")
L&T Technology may trail peers in near term despite improved FY21 guidance
While deal pipeline remains strong, Q3 growth, valuations could impact stock
 "L&T Technology may trail peers in near term despite improved FY21 guidance")
Chevron to lay off about 25% of Noble Energy employees after merger
The job cuts come after the company promised to lower its operating expenses by $1 billion this year in the face of sharply lower energy demand
 "Chevron to lay off about 25% of Noble Energy employees after merger")
When job loss wrecks your finances
Continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time
 "When job loss wrecks your finances")
Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: Report
The South China Morning Post said the airline was expected to announce the job cuts on Wednesday, adding the figure had been reduced from 8,000 layoffs after government intervention
 "Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: Report")
Japan's ANA to seek workers to leave voluntarily, cuts winter bonus to zero
ANA said redundancies would be offered to some of its 15,000 employees but did not give a specific figure
 "Japan's ANA to seek workers to leave voluntarily, cuts winter bonus to zero")
United Airlines' pilots agree on reduced schedule to avert 2,850 furloughs
United is still planning to furlough more than 12,000 frontline employees on Oct. 1
 "United Airlines' pilots agree on reduced schedule to avert 2,850 furloughs")
Lufthansa to cut more jobs, pull big jets due to gloomy travel outlook
The airline will also pull its remaining eight Airbus A380 jets out of service and put them in long-term storage, along with 10 four-engine A340-600 aircraft
 "Lufthansa to cut more jobs, pull big jets due to gloomy travel outlook")
World Coronavirus Dispatch: Citigroup to resume job cuts after pause
Hong Kong plans new stimulus as economy falters, China's recovery gathers speed on retail rebound, some jobs may permanently move to machines and other pandemic-related news across the globe
 "World Coronavirus Dispatch: Citigroup to resume job cuts after pause")
Singapore Airlines plans to cut 4,300 jobs due to Covid-19 pandemic
The group said in a statement it will cut the positions across Singapore Airlines, regional arm SilkAir and budget unit Scoot
 "Singapore Airlines plans to cut 4,300 jobs due to Covid-19 pandemic")
Rising sales numbers not a reflection of ground reality, say auto dealers
Dealers say that with more job cuts and salary reduction, banks and NBFCs have become more cautious
 "Rising sales numbers not a reflection of ground reality, say auto dealers")
Ford Motor to cut 1,000 North American salaried jobs amid overhaul
The job cuts are aimed at improving the automaker's efficiency and are not related to rising costs from the coronavirus pandemic, said people familiar with the action
 "Ford Motor to cut 1,000 North American salaried jobs amid overhaul")
Chevron Corp posts $8.3 billion quarterly loss on writedowns, job cuts
The loss includes $1 billion to cover severance pay for up to 15% of its 45,000-person workforce
 "Chevron Corp posts $8.3 billion quarterly loss on writedowns, job cuts")
This is how you can get free Netflix subscription for 83 years in US
Netflix is giving a free subscription for 83 years, or 1,000 months, calling it an 'immortal' account. All you have to do is play a video game and get the highest score
 "This is how you can get free Netflix subscription for 83 years in US")
