Page 3 - Layoff

IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis

V Vaidyanathan, managing director and chief executive, will take 30 per cent cut in his compensation, including fixed compensation as well as all allowances.

Covid-19 lockdown: Airlines go for cuts again as grounding may extend

With indications of a longer period of air transport grounding, many airlines are looking at further cuts in employee salary.

Ola follows Uber, lays off 1,400 staff as Covid-19 hits ride-hailing biz

Ola's revenue has come down 95% in the past 2 months because the disruption caused by the coronavirus.

Covid-19 crisis: Indiabulls sacks over 2,000 employees to control expenses

The attrition is in line with the process we follow every year, says company

Covid-19 impact: ShareChat sacks 101 employees amid market uncertainties

In an email to employees, the Twitter-backed platform outlined steps it is taking to 'become leaner and position the company better for the future'

10 well-known companies that laid off staff due to coronavirus

Here is the list of major companies that have said they are downsizing their workforce

Uber cuts 3,000 more jobs, closes offices amid coronavirus outbreak

Combined with the 3,700 employees in customer support and human resources, Uber dismissed earlier this month, the cuts now total about 25% of the total workforce. A spokesman said more cuts could come

Uber to lay off 3,000 workers in second cut for May, trip requests drop 80%

Company says it plans to reduce investments in several non-core projects.

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

Covid-19 crisis: Life insurers look to hedge against policy surrenders

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

Uber to lay off 3,700 employees, 17% of workforce; CEO to forgo base salary

Uber and rival Lyft Inc have been under investor pressure to show profits but the coronavirus-led lockdowns have forced them to cut costs and withdraw their full-year financial outlooks

Virgin Atlantic plans to cut over 3,000 jobs amid coronavirus outbreak

The spread of the novel coroanvirus has virtually brought airports around the globe to a standstill, leaving airlines taking drastic steps to make savings.

Cure.fit lays off 10% of its trainers, other staff; cuts pay across board

Sources also said that, these employees are asked to either resign with effect from May 1 or even by the end of May as an extra month would be added to their work experience if they want

Covid-19 lockdown: 70% listed firms may dip into reserves for April pay

This will make it tough for many of them to service their fixed costs, such salary and wages, as well as interest on their loan.

Zoho Corporation cancels bonuses, but avoids any layoffs due to Covid-19

In view of dip in US GDP, the company has prepared itself for a larger hit on its business

Companies shift focus on reskilling workforce for post-Covid world

With job losses and redundancies looming large, firms have taken to the idea of reskilling their workforce with gusto

Covid-19 impact: Gujarat, Punjab increase working hours in factories

Andhra Pradesh has asked employers to not lay-off contract workers during the lockdown

Swiggy to downsize private brand kitchens, impacting 900 staff: Report

As COVID-19 disrupts daily life across the country, the hospitality industry has come under severe pressure

Paytm to give ESOPs worth Rs 250 crore this year, hire 500 people

The exercise, which will be completed over the next 3-4 months, will include high performing employees as well as new hires, Paytm said.

Oyo sends thousands on leave without pay, India escapes for now

Oyo said in a statement it's furloughing employees in countries excluding India without specifying numbers, adding that it's not considering job cuts at this time.