HRD

SpiceJet to lay off 1,400 employees to cut costs

SpiceJet to lay off 1,400 employees to cut costs

12 Feb 2024

Budget carrier SpiceJet will cut 15 per cent jobs, reducing its workforce by around 1,400 as part of its efforts to reduce operating costs and improve investor returns.

Tata Technologies to invest Rs1,500 cr in skilling centres in Telangana

Tata Technologies to invest Rs1,500 cr in skilling centres in Telangana

20 Jan 2024

Tata Technologies has proposed to invest Rs1,500 crore (about $1.80 billion) to back government’s efforts for setting up skilling centres in Telangana, reports citing state government sources said on Thursday.

Citigroup plans to cut 20,000 jobs globally by 2026

Citigroup plans to cut 20,000 jobs globally by 2026

15 Jan 2024

US banking and financial services giant Citigroup is planning to lay off 20,000 of its workforce - roughly 8 per cent of its 239,000 global headcount by 2026, as part of a mega restructuring.

Amazon to cut jobs in Prime Video and Studio Operations

Amazon to cut jobs in Prime Video and Studio Operations

11 Jan 2024

In a significant move, Amazon.com has announced plans to lay off several hundred employees in its streaming and studio operations.

Indian IT giants employ non-compete clauses in junior staff contracts

Indian IT giants employ non-compete clauses in junior staff contracts

09 Jan 2024

In a recent development, major Indian IT companies, including TCS, Infosys, Wipro, HCLTech, and Tech Mahindra, have incorporated non-compete clauses into the contracts of junior employees, spanning from 6 to 12 months.

Disney secures support from activist investor ValueAct Capital

Disney secures support from activist investor ValueAct Capital

04 Jan 2024

In a significant development, The Walt Disney Company has garnered support from ValueAct Capital, a notable activist hedge fund. This backing comes amid board challenges posed by billionaire financier Nelson Peltz.

SpaceX faces allegations of wrongful employee firings

SpaceX faces allegations of wrongful employee firings

04 Jan 2024

SpaceX, the renowned rocket and satellite manufacturer, has come under scrutiny as a U.S. labor agency accuses the company of unlawfully terminating eight employees.

Intel to lay off 235 more employees in US as it reworks strategy

Intel to lay off 235 more employees in US as it reworks strategy

23 Dec 2023

Computer chip maker Intel Corporation plans to lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as part of its ongoing efforts to cut costs.

Disney gears up for an an intense boardroom clash as activist Peltz eyes two seats

Disney gears up for an an intense boardroom clash as activist Peltz eyes two seats

15 Dec 2023

In a significant development set to impact the entertainment giant Walt Disney, activist investor Nelson Peltz has nominated himself and former Disney Chief Financial Officer James “Jay” Rasulo for seats on the company’s board.

Stephanie Pope is set to assume the role of Chief Operating Officer at Boeing

Stephanie Pope is set to assume the role of Chief Operating Officer at Boeing

11 Dec 2023

Boeing is all set to appoint Stephanie Pope, a seasoned company veteran and current head of Boeing Global Services, as its Chief Operating Officer (COO).

Bank employees clinch 17% annual pay hike; push for 5-day week

Bank employees clinch 17% annual pay hike; push for 5-day week

10 Dec 2023

A consortium of bank employee unions and the Indian Banks Association (IBA) have reached a consensus on wage revision that provides for an annual increase of 17 per cent in salaries

700 Washington Post employees walk out over contract and layoff concerns

700 Washington Post employees walk out over contract and layoff concerns

07 Dec 2023

In an unprecedented move, approximately 700 employees of The Washington Post walked off the job for 24 hours on Thursday, 7 December, 2023.

The U.S. Appeals Court grants a favorable ruling to chemical manufacturers in the PFAS lawsuit

The U.S. Appeals Court grants a favorable ruling to chemical manufacturers in the PFAS lawsuit

28 Nov 2023

The U.S. 6th Circuit Court of Appeals, based in Cincinnati, Ohio, delivered a favorable ruling on Monday, November 27, 2023, for 3M, E.I. du Pont de Nemours and Co.,

Strike breaks out as Gucci workers in Rome protest against relocation of creative office

Strike breaks out as Gucci workers in Rome protest against relocation of creative office

28 Nov 2023

Gucci fashion house in Rome, Italy, saw an unprecedented strike by their employees on Monday, 27 November 2023. This strike was a result of the fashion giant’s decision to move its design house from Rome to Milan, Italy.

Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs

Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs

24 Nov 2023

Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office operations.

In another shocking twist, OpenAI announces the re-hiring of Sam Altman as CEO

In another shocking twist, OpenAI announces the re-hiring of Sam Altman as CEO

22 Nov 2023

OpenAI, the company that created the revolutionary ChatGPT, took to social media platform X to announce that they have agreed in principle to rehire Sam Altman as the CEO of the company.

OpenAI investors consider legal action following CEO ousting and employee exodus

OpenAI investors consider legal action following CEO ousting and employee exodus

21 Nov 2023

In a startling turn of events, some investors in OpenAI, the renowned creator of ChatGPT, are contemplating legal action against the company's board.

Boeing announces departure of chief strategy officer in 2024 amid company restructuring

Boeing announces departure of chief strategy officer in 2024 amid company restructuring

17 Nov 2023

Boeing’s chief strategy officer, Marc Allen, has decided to step down from his position by the end of this year.

Apple settles with U.S. government for $25 million in immigration hiring dispute

Apple settles with U.S. government for $25 million in immigration hiring dispute

10 Nov 2023

In a groundbreaking settlement, technology giant Apple Inc. will pay $25 million to resolve allegations by the U.S. Department of Justice (DOJ) that the company engaged in discriminatory hiring practices favoring immigrant workers over U.S. citizens and green card holders for specific job positions.

Amazon announces the latest round of job cuts in recent layoffs

Amazon announces the latest round of job cuts in recent layoffs

09 Nov 2023

E-commerce giant Amazon.com has confirmed that it has started to let go of some employees in its music division. This new round of job cuts is the latest among the many rounds prior to this that have affected over 27,000 people in the past year.

Citigroup considers significant job cuts in its ongoing CEO-backed restructuring

Citigroup considers significant job cuts in its ongoing CEO-backed restructuring

07 Nov 2023

Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.

Goldman Sachs announces promotion of 608 new managing directors, a decrease from 2021 numbers

Goldman Sachs announces promotion of 608 new managing directors, a decrease from 2021 numbers

03 Nov 2023

In a recent development, Goldman Sachs, the renowned Wall Street firm, announced its plan to promote 608 executives to the position of managing director in 2023.

BIC employees to get Rs80 cr in overdue salaries and retirement benefits

01 Jul 2023

McKinsey likely to lay off nearly 2,000 employees in biggest job cuts: report

06 Mar 2023

Dell to lay off about 6,650 employees worldwide as PC sales slump

07 Feb 2023

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