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AT&T Inc plans to lay off more than 3,400 technician and clerical jobs across the country. The U.S. telecom and media giant also plans to permanently close over 250 stores, which would impact about 1,300 retail jobs. The job cuts are part of the company’s effort to focus on growth areas and address customer demand for some legacy products. US carmaker Ford Motor is to cut up to 8,000 jobs to reduce costs and intensify its focus on electric vehicles. The majority of the job cuts are expected to be among Ford’s salaried ranks in the United States, as well as the Ford Blue unit created in March to run the company’s internal combustion engine operations.
Most of the jobs are in the laboratory, linen, cleaning, and in-patient food services that will be outsourced to private companies. The retail company has laid off 5,000 workers this month and is planning to close more stores this year and go online. The company is expecting for 40% of its sales to come from online purchases this year. John Lewis Partnership, the British department stores that has been hugely impacted by the pandemic, plans to axe 1,000 management jobs. The group has already permanently closed 16 stores during the pandemic with the loss of around 2,800 jobs.
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ByteDance is mainly cutting in business units that offer after-school tutoring services for primary and middle school curriculum courses. The Denver-based customer service company Startek plans to lay off over 472 workers at the facility in Farmington. The company blamed a client’s “unexpected” decision to end a contract that was unforeseen and out of the control of the Startek organization. Going forward, Olive will focus on its Autonomous Revenue Cycle product and its Utilization Management Transformation tool. The affected workers will be eligible for two weeks of severance per year of service as well as job placement support and access to a talent portal. Credit Suisse plans to eliminate more than 5,500 jobs by the end of this year as the company looks to further reduce costs and improve the lender’s prospects.
SPRINGFIELD, Mass. (WGGB/WSHM) -On Monday, nearly 60 Trinity Health At Home employees will be laid off. OSHA's COVID-19 Safety and Health Topics page provides specific information about protecting workers from coronavirus during the ongoing outbreak. American Airlines Group is laying off over 19,000 employees as scheduled, in addition to thousands more who left the company or agreed to voluntary furloughs. According to the auto giant, it is making savings to invest in new technologies, as EU regulators crack down on emissions. It had closed its bases in Madrid and Mallorca prior to the COVID-19 pandemic.
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They strongly hinted at impending labor cost reductions to meet the impact of slowing demand and increased costs. Network giant Cisco is reportedly planning to lay off over 4,000 of its employees! The decision to lay off employees is been taken as a part of the “rebalancing” process. MessageBird, an Amsterdam-based cloud communications platform, has laid off 31% of its staff. Poor macroeconomic conditions and the looming recession have led the company to make this move.
The large-scale layoffs began in mid-January, starting with R-Lab, the innovation arm of Didi, followed by ride-hailing, bike-sharing, and freight businesses. Tunisair plans to lay off approximately 1,000 of its employees for two or three years starting in 2022, as part of plans to ease financial difficulties at the state-owned Tunisian airline. Tunisair has been losing money every year since Tunisia’s 2011 revolution, prompting urgent demands to be restructured.
Pandemic-Driven Home Health Shifts Trigger Therapy Layoffs …
Lufthansa has reached a new deal with the trade union, Verdi, to cut 200 million euros (£178 million) in costs in return for making no compulsory redundancies in 2021. Airbus will lay off about 15,000 employees – more than 10% of its workforce, over the next 12 months. Airbus has to cut more jobs to sustain itself and is trying to reduce the number of layoffs through long-term partial employment, voluntary departures, and early retirement programs. Pret a Manger, the sandwich shop chain will cut around 2,800 jobs in stores, and around 90 support staff, on August 31st.
The automaker is undergoing restructuring to focus on electric vehicles and unfortunately, the move will also lead to job cuts. Olive, a tech startup that uses artificial intelligence to automate healthcare tasks, is freezing new hires amid a wave of digital health companies laying off employees and tech giants slowing their hiring. Biotech company CytomX Therapeutics will lay off staff in a restructuring plan that will prioritize investment in the company’s preclinical and early-stage pipeline. CytomX will reduce its workforce by 40%, mostly affecting staff in the development and administrative roles. Sema4, the AI-backed genomic and clinical data company has laid off around 250 workers, about 13% of its workforce, as part of a larger restructuring.
The layoffs involved junior to senior employees in Baidu’s AI, mobile, cloud, and other technical departments. Pollen, a UK-based travel and entertainment technology company that brands itself as a tech-first company laid off a third of its workforce – about 200 people. The company creates travel experiences related to music events for people, and patterns with music festivals to drive bookings through its platform.
Doma will be refocusing its financial resources on “home purchase-focused strategic initiatives,” which includes deploying the investment dollars it raised when it went public on a more conservative basis. Of the 310 people affected, 259 were in Doma’s fulfillment organization, representing a 28% reduction to that group. CEO Vamsi Krishna said in an email to his staff that the company is laying off about 7 percent or 424 employees out of the 5,900.
Spectrum Pharmaceuticals is cutting about 30% of its workforce to prioritize work on its two late-stage assets. The company has gone through a number of challenges, including a sale of its marketed drugs portfolio in 2019 and an FDA rejection for a key prospect last year. Now, it’s laying off staff to save cash and focus on its mid- and late-stage cancer meds. Softbank-backed Indian hotel aggregator Oyo Hotels is cutting 600 jobs of its 3,700 employees, mostly in its corporate and technology teams. In May, Lufthansa agreed to a rescue deal worth €9bn (£8bn) with the German government to save it from collapse. The German government will take a 20% stake in the firm, which it intends to sell by the end of 2023.
BYJU’s, the Edtech company is planning to lay off 2,500 employees in the next six months, which account for 5% of its workforce. Israeli-US data protection platform OwnBackup to layoff 17% of its employees . Property technology company Veev is laying off around 100 employees, which accounts for around 30% of its workforce.
Netherland-based lender Rabobank has plans to cut its workforce by 5000 over the next five years. The company also has plans to downsize its branch network as part of its ongoing cost optimization measures following the pandemic. The bank will invest in digital technology over the coming years, to improve its operational and financial performance in a low-interest environment. Payments startup Bolt Financial will lay off about 250 employees, which is equivalent to a third of its workforce.
French carmaker Renault plans to cut up to 2,000 engineering and support jobs in France as it shifts into electric cars and hires in different positions. With an FDA approval last February, Lundbeck’s Vyepti, a CGRP inhibitor infusion, launched right into the pandemic and a migraine market that’s now filled with injectables and oral options by Big Pharma players. Electric scooter rental firm Spin will lay off 25% of its employees, as part of the company’s restructuring plan to exit open permit markets. Spin was bought by Ford Motor Co in 2018 and operates as a standalone business within Ford Smart Mobility. Retail brokerage firm Robinhood is cutting back staffing levels, citing “duplicate roles and job functions” after rapid expansion last year.
The company plans to “significantly expand its India-based Ford Business Solutions team and bring to market” some of its global vehicles and electrified SUVs. Are to cut as many as 3,700 jobs as part of a plan announced last year to merge its domestic retail operations and boost profitability. Fresenius Medical Care AG & Co. will cut around 500 to 750 jobs in Germany as the company suffers from cost pressure and the consequences of the corona pandemic.
Royal Mail is set to lay off around 700 management jobs as part of cost-cutting plans. The management will start negotiations with unions over the proposed job losses. Edtech unicorn Unacademy has laid off around 600 employees, including its on-roll staff and contractual educators. The layoffs were part of the restructuring to cut costs amid an impending slowdown in venture funding and tightening of the overall economic environment. Ford Motor is laying off its salaried and contract employees and about 580 staff are affected.
