New Delhi: Japanese auto major Nissan’s plans to turn around its Indian operations remain intact, and it is looking to increase headcount in the country despite the turbulence it is facing globally, according to a senior company official. The company, which has increased headcount at its Chennai plant by 600 to add a third shift, … Read more
St James’s Place, one of Britain’s leading wealth management firms, is set to make approximately 500 redundancies, representing nearly a sixth of its workforce, as part of a six-year strategy aimed at slashing costs and revamping operations. The move comes amidst increasing competitive pressures and regulatory scrutiny in the financial sector. Strategic Revamp Aims for … Read more
Boeing plans to freeze hiring and reduce travel and is considering temporary layoffs to save cash during a factory workers’ strike that began last week, the company told employees Monday. The company said the moves, which include reduced spending on suppliers, were necessary because “our business is in a difficult period.” Chief financial officer Brian … Read more
If you want to understand the struggling local news landscape, look no further than Atlantic Canada, where a takeover has kept the region’s largest newspaper publisher in operation, but still leaves local journalism in a tenuous state. Toronto-based Postmedia, whose titles include the National Post and the Montreal Gazette, has taken over the financially insolvent SaltWire … Read more
Bay Area employers slashed thousands of jobs in July, an unsettling economic setback that suggests the waves of layoffs in the wobbly tech industry have begun to undermine the region’s employment sector. Last month’s job losses in the Bay Area were spawned by big employment reductions in the South Bay and the San Francisco metro … Read more
Intel was set to erase nearly $25 billion US in stock market value on Friday in potentially its worst sell-off since 2000, after it suspended its dividend and slashed its workforce to fund a costly turnaround for its chipmaking business. The company’s stock fell nearly 21 per cent in pre-market trading after Intel late on Thursday … Read more
An expert who tracks Canada’s mainstream media industry says Postmedia’s pending purchase of Atlantic Canada’s largest newspaper chain is almost certain to result in job cuts and a reduction in local content. April Lindgren, a journalism professor with Toronto Metropolitan University, says Postmedia Network Inc. has also made a habit of closing unprofitable publications, having … Read more
Bell Media has cut an additional 43 technician jobs as part of the restructuring it announced in February, the company confirmed to CBC News on Thursday. The announcement comes after the company said it would move its local broadcaster CP24 from its Queen Street headquarters to its Scarborough, Ont., campus this fall, with business news organization BNN … Read more
Companies in the U.S. and Canada have continued their job cuts in 2024 after letting go thousands last year, as the outlook on interest rate cuts by the Federal Reserve remains uncertain even as recession fears recede rapidly. Here is a snapshot of job cuts announced so far this year: Technology Amazon’s job cuts include … Read more
New Delhi: One97 Communications Limited (OCL), which owns the Paytm brand, has begun to lay off an undisclosed number of employees amid a restructuring exercise, along with facilitating outplacement assistance to those affected. The company said in a statement that it is also disbursing bonuses which were due to employees, “ensuring fairness and transparency in … Read more
