The company expects to transfer around 800 jobs internally and about 700 positions to third parties.
Around 6,967 tech employees lost their jobs in Bengaluru, the highest among Indian cities, partially because of its evolution in recent years as a start-up hub.
Back- and middle-office positions that support trading functions and provide technology services will be cut
'There are 725,000 Indians here without proper papers. They are subject to deportation immediately under this (Trump's immigration plan). Immediately!' 'They want to prevent new immigration, get the people who are already here out of here, and only allow population increases in the white population.'
Ford had reported a loss of $404 million in Europe in the second quarter this fiscal and had said it expects the full year loss in the continent to exceed $1 billion.
Fresher hiring is expected to more than double compared to last year.
With debt woes and a legal case in the US courts, educational technology (edtech) giant Byju's is expected to be laying off more employees, according to media reports. According to The Morning Context report, Byju's intends to lay off 1,000 employees. This number, however, could not be confirmed by Business Standard independently. A spokesperson for the company declined to comment on the reports.
Days after Citi's global CEO Vikram Pandit said the group planned to reduce head-count by 52,000, there are reports that the financial major will lay off over 1,000 employees in India. The financial services company has around 10,000 employees in India.
'There are some things I may not be comfortable about. Explicit things and all that.'
'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.'
"Less than 10 per cent of all publicly announced job cuts at European banks since 2002 are due to offshoring. Internal restructuring accounts for the lion's share," according to a latest research report by German banking giant Deutsche Bank.
The David Cameron government has accepted the recommendation of the Migration Advisory Committee to specialist jobs such as pharmacists, veterinary surgeons, and speech and language therapists.
'We don't have to go abroad for anything.' 'Anyone who thinks we have a lot to learn from the US needs to have his head examined.' 'We are in a new era.'
Lille coach Genesio hails perfect night after win over Real
Hewlett-Packard has targeted 14,500 jobs cuts worldwide or about 10 per cent of its regular full-time staff, including an unspecified number from its Houston campus, over the next 18 months. \n
"Nokia plans to reduce up to 10,000 positions globally by the end of 2013. Nokia is beginning the process of engaging with employee representatives in accordance with country-specific legal requirements," it said in a statement.
Sell unwanted assets, get out of costly loans, get out of assets generating low returns and negotiate with your bank, says experts.
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
rediffGURU Anu Krishna offers advice on how to deal with complicated situations in a relationship.
The demand for white-collar gig roles saw an 11 per cent uptick year-on-year in March, amid muted hiring across industries due to global headwinds and job cuts, according to a recent report. The month saw white-collar hiring in India rise 2 per cent in terms of job posting activity compared to the same period the previous year, according to the report by staffing portal foundit.in (formerly Monster APAC and ME). Sectors such as retail, telecom, and Travel and Tourism saw the biggest growth in demand on an annual basis.
'Crores of rupees have been spent on paper but nothing has actually happened on the ground.'
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
On the eve of the Haryana assembly poll results, the issue of chief minister-ship has taken centre stage in the Congress with all eyes on its high command's next move as the party expects to regain power after 10 years in the state.
'With passage of time, Kamal did move away from the humdrum of commercial cinema, using it only as a peg to launch a new concept or new technology, as no other actor/film-maker has done in Indian cinema.' N Sathiya Moorthy assesses the career and politics of movie legend Kamal Haasan on his 70th brthday.
Manchester City have now won only once in 11 games in all competitions.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Switzerland's other major big bank, UBS, said in August it was trimming 3,500 jobs to save 2 billion francs annually.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
HP employs around 60,000 people in India, including former employees of EDS, which it had acquired for $13.2 billion in May last year. However, a good number of EDS India employees who were transferred to HP India will not be so lucky, industry sources said. "HP CEO Mark Hurd's plan to effect pay cuts between 2.5 per cent and 5 per cent will affect all EDS employees who were moved to HP," an industry source added.
Credit Suisse has seen more than 50 per cent fall in quarterly profit.
The number of jobs lost in the United States came down sharply by 247,000 as the unemployment rate declined to 9.4 per cent in July, one of the strongest indications yet that recession in the world's largest economy is easing.
Company chief executive David Smith said that he did not expect sales to return to normal levels "for some time." He added, "It is only right and proper that our response to the unavoidable impact of the credit crunch and a severe reduction in demand includes actions across all grades and functions in the company. It is critical that Jaguar Land Rover becomes a more efficient and dynamic organisation to face up to the challenges that we will meet in the years ahead."
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India's star batters have lost a lot of confidence over the years by playing on rank turners, with their home averages taking a beating and affecting their careers adversely, feels former off-spinner Harbhajan Singh.
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.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
Making a strong pitch to discourage outsourcing of jobs, United States President Barack Obama on Monday said that America's current tax structure gives incentives for shipping jobs overseas, a trend that needs to be reversed with incentives aimed at creating jobs inside the country.
The New York Times Company, which owns the Boston Globe, had recently announced the elimination of more than 120 jobs at the Boston Globe. Of these, 55 jobs in advertising finance will be outsourced to India.
"I'm taking all responsibility (of the country). Please cooperate," he said in a televised address amid reports that Hasina has left the country.
The cuts, which amount to about 4 per cent of the bank's workforce, carry the fingerprints of Citigroup's Chairman Michael O'Neill.
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