Sportswear maker Nike Inc will be reducing nearly 1,750 jobs, representing nearly five per cent of its global workforce, as part of its restructuring efforts.
World's largest cell phone maker Nokia on Wednesday said up to 300 jobs would be cut in India by end of 2012, as the company embarks on restructuring that would affect 7,000 employees worldwide.
The sector has already stepped up restructuring programmes, reduced headcount by about 15,000 since mid-2011 and has announced another 25,000 job cuts.
'In India, the impact will be less than 1% of employee headcount.'
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Tata Steel on Friday said it will cut 900 jobs in the UK as part of major restructuring of European operations to make the company an "all-weather" steel producer, capable of succeeding in difficult economic conditions.
Ailing Japan Airlines (JAL) will slash more than 16,100 jobs in the coming months as it embarks on drastic restructuring efforts.
The move is aimed at reducing costs and improving efficiency.
By 2022, the entire job landscape would undergo drastic change.
Omid Kordestani, VP, global sales and business development, said Google has created overlapping organisations in some areas, which duplicate effort and complicate the 'decision-making process. That makes our teams less effective and efficient than they should be. In addition, we over-invested in some areas in preparation for the growth trends we were experiencing at the time,' he said. The affected employees would be given the opportunity to find another position in Google.
Troubled American drug making giant Merck and Co on Monday announced a sweeping restructuring plan that will see the loss of 7000 jobs or 11 per cent of its worldwide workforce as also the closure or sale of five of its 31 manufacturing plants.
The job cuts comes in the wake of the banking sector, especially investment banking activities, facing difficult times amid the persisting European debt turmoil.
Global travel and payment services firm American Express will be trimming another 4,000 jobs representing nearly 6 per cent of its global workforce, as the firm continues its efforts to cut down costs.
Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
British IT services firm Logica has decided to cut about 1,300 jobs, including nearly 500 in the UK, and move many of them to India, the Philippines and Morocco.Logica-- an IT and consultancy firm -- already has a significant presence in India and has an overall staff strength of 39,000.
With increasing growth in demand by companies for environmentally sustainable services, millions of job opportunities are in the offing for people having the skill sets related to green services, experts say.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
The head of GM's European operations Nick Reilly assured on Thursday state premier of Thuringia in eastern Germany Christine Lieberknecht that Opel's Eisenach plant in the state will remain open.
Citigroup, the global financial giant, plans to cut almost 17,000 jobs worldwide in a bid to cut down its expenses by $1 billion.
The company which posted results for the latest quarter said restructuring efforts are underway that will include a workforce reduction of around 5,000 employees.
Upskill. Network. Increase your employability status. Don't be redundant, says Gaurav Vohra.
Telecom Italia is targeting to reduce the debt significantly over the period 2009-2011. It plans to reduce net debt to earnings before by interest, tax and depreciation and amortisation ratio to 2.3 at the end of 2011 from over 3 at present.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
The exercise part of drive to combine operations under single firm.
The loss making airline would be reducing the number of employees in the first half of 2010.
Personal loans have about 80 per cent share in exposures restructured under regulatory package 2.0 by eight banks who have declared results for the second quarter. The remaining 20 per cent are loans to individuals used for business and credit to MSMEs. The total recast exposure of these banks under One Time Restructuring (OTR 2.0) was Rs 27,708 crore.
Seeks to cut 1.7 billion pounds in annual costs and improve standards.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
Aiming to revive its loss-making long-product business in Europe, Tata Steel on Friday said it plans to invest 400 million over five years, shut or mothball parts of Scunthrope plant and slash 1,500 jobs in England.
The group issued a profit warning last year as it was hit by the slump in oil prices.
According to The Australian, about 200 employees of Crazy John's will face redundancy as part of its restructuring programme in the first half of 2010, when over 150 jobs will be shifted to Mumbai.
Disney+ Hotstar reported its biggest decline in paid subscribers to date - a fall of 3.8 million subscribers, or 6 per cent of its total - in the October-December period. The drop in numbers came after two warnings by the company that Hotstar's paid subscriber base would shrink as it didn't have streaming rights for the Indian Premier League (IPL) for the 2023-27 media cycle. The IPL would start on April 1 this year and continue till May 28.
Simon Katich, who has been nominated by Cricket Australia's longest-serving director, Mark Taylor, to succeed him after resigning, turned down the offer sighting media commitments.
Speaking to reporters after inaugurating a Rs 50-crore (Rs 500-million) aviation turbine fuel pipeline of Indian Oil Corporation from Manali to Chennai, the minister said: "Air India will not sack employees but financial and organisational restructuring is on the cards."
The reshaping programme has been announced to combine and streamline group's three global research and development operations into one Unilever R&D organisation to improve efficiency, a company statement said.
Microsoft had acquired Nokia's phone business for $7.2 billion two years ago under its then CEO, Steve Ballmer.
Currently, the company employs about 219,000 people worldwide.
Cisco, which employs about 73,000 people worldwide, has warned against a 'challenging macro environment'
