Page 21 - Layoff

Uber to lay off 3,000 workers in second cut for May, trip requests drop 80%

Company says it plans to reduce investments in several non-core projects.

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

Covid-19 crisis: Life insurers look to hedge against policy surrenders

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

Uber to lay off 3,700 employees, 17% of workforce; CEO to forgo base salary

Uber and rival Lyft Inc have been under investor pressure to show profits but the coronavirus-led lockdowns have forced them to cut costs and withdraw their full-year financial outlooks

Virgin Atlantic plans to cut over 3,000 jobs amid coronavirus outbreak

The spread of the novel coroanvirus has virtually brought airports around the globe to a standstill, leaving airlines taking drastic steps to make savings.

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

Covid-19 lockdown: 70% listed firms may dip into reserves for April pay

This will make it tough for many of them to service their fixed costs, such salary and wages, as well as interest on their loan.

Zoho Corporation cancels bonuses, but avoids any layoffs due to Covid-19

In view of dip in US GDP, the company has prepared itself for a larger hit on its business

Companies shift focus on reskilling workforce for post-Covid world

With job losses and redundancies looming large, firms have taken to the idea of reskilling their workforce with gusto

Covid-19 impact: Gujarat, Punjab increase working hours in factories

Andhra Pradesh has asked employers to not lay-off contract workers during the lockdown

Swiggy to downsize private brand kitchens, impacting 900 staff: Report

As COVID-19 disrupts daily life across the country, the hospitality industry has come under severe pressure

Paytm to give ESOPs worth Rs 250 crore this year, hire 500 people

The exercise, which will be completed over the next 3-4 months, will include high performing employees as well as new hires, Paytm said.

Oyo sends thousands on leave without pay, India escapes for now

Oyo said in a statement it's furloughing employees in countries excluding India without specifying numbers, adding that it's not considering job cuts at this time.

Emaar Properties slashes salaries by up to 50% amid coronavirus pandemic

The company has announced salary cut of 50 per cent for the senior management, 40 per cent for middle management and 30 per cent for junior employees.

Covid-19 crisis: Consumer internet start-ups brace for salary cuts, layoffs

Companies taking extreme steps to continue to stay afloat amid Covid-19 crisis

Indian IT firms unlikely to lay off employees amid coronavirus lockdown

With high employee utilisation level and low bench strength, Indian IT companies are in a better position to absorb the adverse impact on cost for now

Spanish govt bans layoffs, says coronavirus not an excuse to fire people

Spain has recorded a total of 64,059 confirmed cases, almost 50,000 of which are still active

Wall Street bonuses to plunge 30%, layoffs likely as Covid-19 hits markets

Johnson did not estimate cuts to specific businesses, but he said headcount could be reduced by up to 10% and could include retail divisions

BBC to cut 450 jobs in modernisation plan focused on digital journalism

BBC News has to 'reshaped' for the next decade to save money, says top official for British broadcaster.

Fresh round of layoffs at Oyo, 100-150 staff likely to be impacted

The bulk of this fresh round of layoffs will be from its cloud kitchen business, which has about 200-300 employees in India