Tag: Layoffs

ArcelorMittal announces $1 bn fixed cost-reduction programme; to cut 20 pc of corporate office staff

New Delhi/London: Global steel giant ArcelorMittal has announced a USD 1 billion fixed cost-reduction programme under which the company would be reducing 20 per cent...

As layoffs, pay cuts and gigification loom large, road ahead looks bumpy for executives

It has been over six months but Covid-19 is yet to be tamed. “We don’t yet know whether we are at the beginning, middle or...

The stock market will become disconnected from the economy in 2021 as companies expand layoffs, money manager says

Ina Fassbender/AFP/Getty Images The stock market will become disconnected from the economy in 2021, as a lot of layoffs become permanent, a money manager said. ...

The economy still has a mountain to climb, but it’s digging itself out faster than expected

Is the economy half-full or half-empty? That’s the burning question after a surprisingly upbeat U.S. jobs report for August. Read: U.S. regains 1.4 million jobs...

When does it make sense to surrender life insurance policy?

Given the layoffs and pay cuts across industries due to the covid-19 pandemic, life insurance companies are witnessing some surrender pressure (Read here). Surrendering means...

Dark day for workers as thousands lose jobs including 15,000 at Boeing rival Airbus.

Boeing BA, -1.62% rival Airbus AIR, +0.32% announced on Tuesday it would cut 15,000 jobs globally while travel location food specialist SSP SSPG, -2.25% said...

Jobs: Out of Work: Layoffs and furloughs across sectors have rendered thousands helpless

The figures are numbing. During the two-month lockdown to curb the spread of Covid-19 in India, millions have lost their jobs across sectors. The Centre...

Layoffs: Tourism & hospitality industry begins layoffs

New Delhi: Failing to get any financial assistance from the government under the ₹20-lakh-crore package, many jobs in the travel services, tourism and hospitality space...

Eight in 10 Indian companies not currently considering permanent staff layoffs or redundancies: Korn Ferry survey

From customer-facing staff, middle managers to executives, most respondents both globally and in India believe that adjustments to rewards and benefits as a result of...

HCCB announces 7-8% increments; no salary reduction or lay-offs

NEW DELHI: Beverage maker Coca-Cola’s company-owned bottling partner HCCB (Hindustan Coca-Cola Beverages) has announced 7-8% increment in salaries to its 7,000 direct employees effective April...

Unemployed workers applying for jobless benefits seen topping 25 million

The record surge in suddenly unemployed Americans likely grew by another 4 million last week to push the total to 25 million or more since...

4 Tips To Keep Your Business Afloat in a Downturn

April 17, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. It’s official. We are in another recession. According to Kristalina Georgieva,...

Jobless claims soar again by 5.25 million as coronavirus pushes unemployment to 15%

Living in the age of coronavirus: A government worker hands out unemployment applications to people in their vehicles in Hialeah, Florida. States are struggling to...

Jobless claims soar 6.6 million in early April as coronavirus layoffs swell to nearly 17 million

The numbers: The latest round of coronavirus-induced layoffs and furloughs soared by 6.6 million in early April based on records from state unemployment offices, bringing...

World economy faces a $5 trillion hit, which is like losing Japan

By David Goodman The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years,...

The soaring U.S. unemployment rate could approach Great Depression-era levels

The soaring U.S. unemployment rate might not match the peak of 25% seen during the Great Depression of the 1930s, but it could come uncomfortably...

Coronavirus has capsized the U.S. economy and it’s still sinking to even lower depths

Like the sinking Titanic, every major bellwether on the U.S. economy is plunging to uncharted depths. The upcoming week won’t be any exception. The historic...

Jobs destroyed worldwide as coronavirus sparks recession

By Simon Kennedy The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe...