The drastic cost-saving drive unveiled by the bank would trim its workforce by nearly 16 per cent from the current strength of 64,000 people.
In addition, the company also plans to reduce headcount in its seasonal and temporary workforces, the company said while outlining its plan to improve profitability and enhance operational efficiency in its electronics businesses. Under the corporate restructuring measures, Sony is planning to reduce investment in the electronics business by about 30 per cent in the fiscal 2010, compared to its mid-term plan.
Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant after Microsoft, Facebook and Amazon to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles." Pichai said the layoffs at Google were carried out after a "rigorous review" of its operations.
'...just be neutral about everything.' 'I will just take life as it comes.'
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
It has become difficult for Ashwin to be even considered in the present scenario.
Wing Commander Raveendran and flight steward Sargeant Iyer, though shaken and injured, managed to open the rear door of the aircraft and shouted for Prime Minister Morarji Desai and the passengers in the forward cabin to exit in haste since they suspected that fire would engulf the aircraft.
Waack Girls, that captures the moods of Kolkata, follows an oft-used template. So there's not much novelty to look for in the plot, but the actors are excellent, applauds Deepa Gahlot.
A leaked report by Sir Peter Gershon outlined plans to transform the civil service into a small, streamlined administrative core which delegates most of its powers to super agencies at regional or national level.
Wing Commander Pratap Marathe's story is one of dedication, bravery, and humour, a shining example of the spirit of the Indian Air Force. Air Commodore Nitin Sathe (retd) salutes Wing Commander Marathe who passed into the ages last week.
The Union Public Service Commission entrance and Common Admission Test are completely different from each other and require different approaches, says rediffGURU Mayank Chandel.
International Business Machines said it plans to cut up to 13,000 jobs, or 4 per cent of its work force, as part of a cost-cutting move targeting Europe, where IBM's management structure has remained the same for the last 60 years.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The company's search for a partner in India seems to be grounded once again
Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as the bloodbath continues in the technology sector in 2023. Describing the current times as "significant change", Indian-origin Nadella said customers who accelerated their digital spend during the Covid-19 pandemic, are now optimising their digital spend to do more with less.
Pakistan beat England by 152 runs in the second Test in Multan on Friday to level the three-match series at 1-1.
When AI is used to enhance operational efficiency, businesses can deliver the same product or service but with improved quality, faster, or even at a reduced cost
Union Home Minister Amit Shah on Wednesday asserted that Article 370, which granted special status to Jammu and Kashmir, will not be restored even if Congress stalwart and late PM Indira Gandhi comes down from heaven.
'We kept checking his weight every hour. We didn't sleep the whole night.'
Former Karnataka Chief Minister S M Krishna passed away at his residence in Bengaluru early Tuesday morning, his family said.
Earlier, in September the Federal Reserve had given a formal approval to the Bank of America for acquiring troubled financial services firm Merrill Lynch. The US banking giant further said, "The reductions are designed to eliminate redundancies created as a result of the merger with Merrill Lynch and to reflect the current recessionary environment."
'The Zomato delivery guy wants to click a picture with you.' 'My car has gone for servicing so I ended up going in rickshaws and they recognise me from ads.' 'When I'm walking my dog, people stop by and say, "Oh, we loved you in Bigg Boss.' 'I was shooting for Housefull in a village and there, people were coming over and clicking pictures with me.'
Dr Theyiesinuo Keditsu, a professor of English Literature with PhD and MPhil degrees, was spotted at a restaurant. The next day she was offered Paatal Lok 2.
'Justice may or may not happen, but who are those people who did this to her?' 'If the hospital authorities had helped us that day, or the police, then the real culprits would have been caught.' 'Getting justice for my daughter is my goal now and I want the CM to remember that.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
Akzo, which acquired ICI, the maker of Dulux paints, for eight billion pounds in January, said that the company had to take such action to save about 80 million pound, The Times reported. The company employs 43,000 people in more than 80 countries, including 4,500 in Britain in its coatings and paint divisions, the report said.
We see Rajini's trademark style in Vettayan, and all we can hear from the audience is 'Thalaiva!', record A Ganesh Nadar.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
Battling tough business conditions, Nokia's latest move would be in addition to restructuring plans unveiled in April that would affect as many as 7,000 jobs globally.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
Starting afresh in a new domain or with a new employer or opting for entrepreneurship can be the brighter side of job loss.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
'Now I have understood that an actor needs to switch on and off between action and cut.' 'I take my characters only from the vanity van to vanity van.' 'When I put on the makeup and wear the costume, I'm in character.' 'The minute I remove the makeup and take off my costume, I am out of it.'
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
'Each of us will have a beautiful story to tell about him because he went beyond work and touched our lives. That's a rarity in this industry.'
Devendra Fadnavis, a seasoned politician with deep roots in the RSS, is set to become the Chief Minister of Maharashtra for the third time, after his party, the BJP, won a landslide victory in the state assembly elections. Fadnavis' political journey has been marked by resilience and strategic maneuvering, as he has navigated through challenging times, including political upheavals and controversies.
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
Unacademy is conducting another round of job cuts and laying off 350 employees or 10 per cent of its workforce of 3,500, as the SoftBank-backed edtech firm targets profitability and reduces costs, according to an internal note sent by Gaurav Munjal, co-founder and CEO of Unacademy group, to the staff. Munjal said the restructuring exercise would affect about 10 per cent of employees across the group. "I am deeply saddened to share that we will have to say goodbye to some of our extremely talented Unacademy employees," said Munjal in the letter addressed to employees and reviewed by Business Standard.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
