Page 8 - Job Cuts
United Airlines warns it may furlough 36,000 staff as Covid-19 hits demand
The outlook for a recovery in the airline industry has dimmed in just the past two weeks, as infection rates rise in much of the US.
 "United Airlines warns it may furlough 36,000 staff as Covid-19 hits demand")
United Airlines sending layoff notices to nearly half of its US employees
In the clearest signal yet of how deeply the virus outbreak is hurting the airline industry, United Airlines will send layoff warnings to 36,000 employees, nearly half its US staff
Airbus employees protest job cuts as firm plans to lay off 15,000 workers
Airbus has said a third of the 15,000 jobs are set to go in France included 3,378 in the southwestern city of Toulouse where it assembles wide-body jets and some smaller A320s
 "Airbus employees protest job cuts as firm plans to lay off 15,000 workers")
Germany's DHL to cut 2,200 jobs at UK Jaguar Land Rover plants, save costs
The job cuts comprise just under 40% of the entire DHL workforce on the contract
 "Germany's DHL to cut 2,200 jobs at UK Jaguar Land Rover plants, save costs")
Tata Steel Dutch employees safe from job losses, says Labour Union
There are about 9,000 workers at Ijmuiden. FNV said an agreement has also been reached on the company structure.
 "Tata Steel Dutch employees safe from job losses, says Labour Union")
Airbus hints at compromise on job cuts in exchange for govt-funded schemes
France urged Airbus to make as few forced layoffs as possible, while French and German unions said compulsory cuts at the European planemaker were a "red line"
 "Airbus hints at compromise on job cuts in exchange for govt-funded schemes")
HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report
The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank's 235,000 staff worldwide
 "HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report")
Tata Steel workers at Dutch plant vote to strike over unplanned job cuts
Workers at the Dutch subsidiary have been unhappy since the sudden departure last month of their CEO, Theo Henrar
 "Tata Steel workers at Dutch plant vote to strike over unplanned job cuts")
New wave of job cuts likely across US as Covid-19 crisis crushes economy
The Labor Department's weekly jobless claims report on Thursday is also expected to show the number of people on jobless benefits hitting a new record high in mid-May
 "New wave of job cuts likely across US as Covid-19 crisis crushes economy")
Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more
Here are the top 10 headlines on Thursday morning
 "Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more")
10-15% moderation in salaries not to impact lending practice: HDFC Bank
If the corporates are looking at moderation in salaries or in the increments, the same needs to be watched carefully from a prudential perspective, said the bank's country head for retail lending
 "10-15% moderation in salaries not to impact lending practice: HDFC Bank")
Uber trims a quarter of its India workforce, lays off 600 employees
The move is part of a global restructuring plan announced earlier by Uber CEO Dara Khosrowshahi in view of dwindling fortunes amid Covid-19 lockdowns in several countries, including India
 "Uber trims a quarter of its India workforce, lays off 600 employees")
Rolls-Royce to axe 9K jobs in air travel slump, to save GBP 1.3 bn a year
The 9,000 jobs, out of a global staff of 52,000, will go predominantly from Rolls's civil aerospace business, which generates just over half of its 15 billion pounds ($18 billion)of annual revenues
 "Rolls-Royce to axe 9K jobs in air travel slump, to save GBP 1.3 bn a year")
Cure.fit lays off 10% of its trainers, other staff; cuts pay across board
Sources also said that, these employees are asked to either resign with effect from May 1 or even by the end of May as an extra month would be added to their work experience if they want
 "Cure.fit lays off 10% of its trainers, other staff; cuts pay across board")
Top headlines: MPs take 30% salary cut, service sector activity contracts
Business Standard brings you top headlines of the day
 "Top headlines: MPs take 30% salary cut, service sector activity contracts")
Street signs: Nifty at critical juncture, fear of job cuts, and more
Last week, the volatility indicator fell sharply even as the Nifty fell 6.5 per cent. Analysts, however, say the weakness in financial stocks is a pain-point for the market
 "Street signs: Nifty at critical juncture, fear of job cuts, and more")
Covid-19: Big banks reassure staff on layoffs owing to future uncertainty
There could be a sudden surge in activity once cities re-open, people get back to work and markets normalize in a few months - leaving banks unprepared if they fire staff that seem unnecessary now
 "Covid-19: Big banks reassure staff on layoffs owing to future uncertainty")
HSBC plans to slash 35,000 jobs after profits slid by a third last year
The Asia-focused lender has been trying to lower costs as it faces a multitude of uncertainties caused by the grinding US-China trade war
Walmart-owned Myntra scales down operations, cuts 80 jobs from Gurugram hub
Myntra has a strength of 3,000 employees and the lay-offs have taken place across functions such as business operations, product and technology, and marketing
 "Walmart-owned Myntra scales down operations, cuts 80 jobs from Gurugram hub")
Tata Motors JLR to cut 500 jobs at UK factory to optimise production
There are currently just under 4,000 employees at Halewood, excluding agency staff, and the latest announcement is likely to affect around 500 jobs at the site, the company said
 "Tata Motors JLR to cut 500 jobs at UK factory to optimise production")
