The comapny said it's taking the difficult step of streamlining its operations and reducing workforce in both the United States and India in a substantial way"
"If you're on this call, you are part of the unlucky group," Vishal Garg, the CEO of Better.com, reportedly laid off 900 of his employees in the US and in India on a Zoom call last week.
Tata-SIA-owned Vistara, which has implemented various cost-saving measures amid the coronavirus pandemic, will review salary cuts in January but has not laid off any of its nearly 4,000 employees, Vistara CEO Leslie Thng said on Sunday.
Bata India Chairman Ashwani Windlass on Thursday said it has not laid off any employee so far, but admitted that there is not much clarity on "where the footwear major is heading" amid the raging COVID-19 pandemic.
As part of the measures, a total of 4,500 to 5,000 positions in the entire KLM Group, part of Franco-Dutch airline Air France-KLM, will cease to exist. This means that the workforce will be reduced to around 28,000 full-time equivalents (FTEs) in the course of 2021 from the current 33,000 FTEs.
National carrier Air India on Thursday said that it was decided in a review meeting with the Ministry of Civil Aviation (MoCA) that no staff of the airline will be laid off amid the coronavirus-triggered economic crisis.
The cabin crew of Air India has told the management that the compulsory leave scheme is a smokescreen for retrenchment by the backdoor and has demanded that it be kept in abeyance.
Wipro has no plans to lay off staff at the moment, said Chairman Rishad Premji on Monday asserting that the company has not laid off any employee due to the COVID-19 impact. The Chairman said this while responding to a shareholder at the 74th Annual General Meeting (AGM) which took place virtually.
In April, the French government has offered a 7-billion-euro ($7.91 billion) aid package to rescue Air France, whose planes have been grounded by virus lockdowns around the world.
BookMyShow has decided to lay off around 270 employees in India and globally as business has hit due to the outbreak of coronavirus.
Boeing has announced that they were going to be notifying employees that they're making their first layoff since the covid virus hit and lay off over 67-hundred people. They also said that 55- hundred have taken buyouts. So they're eliminating more than 12,000 jobs.
Zomato, a popular food ordering platform is eliminating 13 percent of its workforce on account of the coronavirus crisis. The online restaurant guide has about 4,000 employees in different roles. The company said a 50 percent salary cut will also come into effect for the next six months.
With the outbreak of coronavirus, most of the countries in the world are on lockdown. Public transport, including air travel, has been suspended in many nations, to contain the spread of COVID-19, by forcing people to stay home.
Going through a turbulent time even before the COVID-19 pandemic hit the world, Uber cut more than 1,100 jobs last year. Earlier this month, the company withdrew its financial forecast for 2020 and said it would write down about $2 billion in investments hit by COVID-19.
Infosys Ltd on Monday made a big announcement regarding new job hirings, promotions and appraisals for the future. The Bengaluru-based MNC made it clear that all new job recruitment and or appraisals were on freeze but the company would honour those candidates whom they have already rolled out the offer letter.
The financial impact of the coronavirus has begun to hit Americans hard as nearly 33 per cent of voters have already lost their job, been furloughed, placed on temporary leave, or had hours reduced - with 41 per cent of those whove lost a job already reporting having trouble covering basic costs.
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the global economy, the work place and the spread of the virus.
About 40 crore workers in India working in the informal economy are at risk of falling deeper into poverty during the COVID-19 pandemic crisis, according to the ILO report.
Boeing is initiating a voluntary layoff (VLO) plan to try to stem the financial strain from the COVID-19 pandemic, Dave Calhoun, the company's president and CEO, said in a letter to employees.
More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus
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