US automaker Ford plans to eliminate 3,200 jobs in Germany and expressed its&nbsp;concern for the future of the company's facilities in the continent's largest economy.&nbsp;The announcement coincided with concerns in the EU that companies would relocate their operations to the US as a result of the historic Inflation Reduction Act, which was recently approved and provides tax breaks for batteries and electric automobiles built in the US.

The majority of the job cuts, according to a spokeswoman for the IG Metall union, would occur in Cologne, where Ford has a sizable facility, however, all locations around Germany are under threat.

"We at IG Metall are extremely concerned about the future of the German development divisions and, as a whole, about the future of the German Ford sites," said a statement from the union after an extraordinary meeting with management.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/swiggy-lays-off-380-employees-ceo-apologises-for-the-extremely-difficult-decision-554448">Swiggy lays off 380 employees, CEO apologises for the 'extremely difficult decision'</a>

Ford did not immediately respond to a request for comment from AFP.&nbsp;

The development centre has "successfully designed models for the European market, which often brought global success for the company,"&nbsp;according to IG Metall, a union that represents employees in the important electrical and metal industries.

If given the opportunity, Ford's German employees can continue to create popular electric vehicles for Europe, according to the union.

Also watch |&nbsp;Music giant Spotify Inc. to cut jobs: Layoffs to start as soon as this week

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/music-giant-spotify-inc-to-cut-jobs-layoffs-to-start-as-soon-as-this-week-555118/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

However, IG Metall warned that the US business risked "taking the axe to its own future" with the proposed layoffs and urged the automaker to rethink the decision.

Ford recently announced that it will significantly increase its investment in Germany in an effort to sell all of its passenger cars as electrified by 2030.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

US automaker Ford plans to eliminate 3,200 jobs in Germany and expressed its concern for the future of the company's facilities in the continent's largest economy.

US automaker Ford plans to eliminate 3,200 jobs in Germany and expressed its concern for the future of the company's facilities in the continent's largest economy. The announcement coincided with concerns in the EU that companies would relocate their operations to the US as a result of the historic Inflation Reduction Act, which was recently approved and provides tax breaks for batteries and electric automobiles built in the US. The majority of the job cuts, according to a spokeswoman for the IG Metall union, would occur in Cologne, where Ford has a sizable facility, however, all locations around Germany are under threat. "We at IG Metall are extremely concerned about the future of the German development divisions and, as a whole, about the future of the German Ford sites," said a statement from the union after an extraordinary meeting with management. Also read | Swiggy lays off 380 employees, CEO apologises for the 'extremely difficult decision' Ford did not immediately respond to a request for comment from AFP. The development centre has "successfully designed models for the European market, which often brought global success for the company," according to IG Metall, a union that represents employees in the important electrical and metal industries. If given the opportunity, Ford's German employees can continue to create popular electric vehicles for Europe, according to the union. Also watch | Music giant Spotify Inc. to cut jobs: Layoffs to start as soon as this week However, IG Metall warned that the US business risked "taking the axe to its own future" with the proposed layoffs and urged the automaker to rethink the decision. Ford recently announced that it will significantly increase its investment in Germany in an effort to sell all of its passenger cars as electrified by 2030. (With inputs from agencies) WATCH WION LIVE HERE:

Ford to cut 3,200 jobs in Europe; plans to move some work to the US

Some of the world's biggest companies are announcing job cuts. The list includes Amazon, Microsoft, Amazon, Twitter. What explains these mass lay-offs? Vikram Chandra tells you.

This World: Google, Microsoft, Amazon announce job cuts

Joining the layoffs spree, US tech giant Microsoft Corp on Wednesday announced that it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023, representing a negative impact of 12 cents on per share profit, it said.

&nbsp;Microsoft said in July last year that a small number of roles had been eliminated, while news site Axios in October reported that the company had laid off under 1,000 employees across several divisions.

The Satya Nadella-led firm is also grappling with a slump in the personal computer market after a pandemic boom fizzled out, leaving little demand for its Windows and accompanying software.

Microsoft is getting ready to slash more jobs from its worldwide workforce as software companies continue to reduce staff numbers to weather the current economic crisis.&nbsp;According to Bloomberg News, Microsoft may announce layoffs in its engineering departments as soon as Wednesday. Microsoft will not comment on what it referred to as "rumour," a spokeswoman for the company told AFP.

The Washington-based company, which according to industry experts&nbsp;employs over 220,000 people, reduced its workforce twice last year.

"Over the last few weeks we have seen significant headcount cut reduction from stalwarts Salesforce and Amazon," Wedbush analyst Dan Ives said in a note to investors.

Also read |&nbsp;<a href="https://www.wionews.com/world/elon-musks-tesla-trial-for-alleged-fraud-over-funding-secured-tweet-begins-553631">Elon Musk's Tesla trial for alleged fraud over ‘funding secured’ tweet begins</a>

Wedbush is expecting staff cuts of another five to 10 percent across the tech sector, Ives told investors.

"Many of these companies were spending money like 1980's Rock Stars and now need to reign in the expense controls ahead of softer (macro-economic conditions)," Ives wrote.

Also watch |&nbsp;World Business Watch: Tesla under fire in Germany over union concerns on working hours

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/world-business-watch-tesla-under-fire-in-germany-over-union-concerns-on-working-hours-553388/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Early in January, the online retail giant&nbsp;Amazon announced its decision to eliminate more than 18,000 positions, blaming "the uncertain economy" and the fact that it had "hired swiftly" during the pandemic.

The job-cutting exercise is the most significant among recent layoffs that have hit the hitherto unstoppable US tech sector, including Facebook ownercebook-owner Meta.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

Joining the layoffs spree, US tech giant Microsoft Corp on Wednesday announced that it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The layoffs will result in a charge of $1.

Joining the layoffs spree, US tech giant Microsoft Corp on Wednesday announced that it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023, representing a negative impact of 12 cents on per share profit, it said. Microsoft said in July last year that a small number of roles had been eliminated, while news site Axios in October reported that the company had laid off under 1,000 employees across several divisions. The Satya Nadella-led firm is also grappling with a slump in the personal computer market after a pandemic boom fizzled out, leaving little demand for its Windows and accompanying software. Microsoft is getting ready to slash more jobs from its worldwide workforce as software companies continue to reduce staff numbers to weather the current economic crisis. According to Bloomberg News, Microsoft may announce layoffs in its engineering departments as soon as Wednesday. Microsoft will not comment on what it referred to as "rumour," a spokeswoman for the company told AFP. The Washington-based company, which according to industry experts employs over 220,000 people, reduced its workforce twice last year. "Over the last few weeks we have seen significant headcount cut reduction from stalwarts Salesforce and Amazon," Wedbush analyst Dan Ives said in a note to investors. Also read | Elon Musk's Tesla trial for alleged fraud over ‘funding secured’ tweet begins Wedbush is expecting staff cuts of another five to 10 percent across the tech sector, Ives told investors. "Many of these companies were spending money like 1980's Rock Stars and now need to reign in the expense controls ahead of softer (macro-economic conditions)," Ives wrote. Also watch | World Business Watch: Tesla under fire in Germany over union concerns on working hours Early in January, the online retail giant Amazon announced its decision to eliminate more than 18,000 positions, blaming "the uncertain economy" and the fact that it had "hired swiftly" during the pandemic. The job-cutting exercise is the most significant among recent layoffs that have hit the hitherto unstoppable US tech sector, including Facebook ownercebook-owner Meta. (With inputs from agencies) WATCH WION LIVE HERE:

Microsoft to fire 10,000 people as tech layoffs intensify

The United States-based Amazon is set to restructure its warehouse operations in the United Kingdom and plans to close three of its centres in the country’s Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, which will impact at least 1,200 jobs. However, the workers will be given a chance to transfer to other Amazon locations, said the online retail giant on Tuesday. This comes days after the company said that it plans to lay off as many as 18,000 employees from its workforce.&nbsp;

The over 1,000 workers employed at the three aforementioned British warehouses will be given a chance to move their jobs internally and the workers at Hemel Hempstead and Doncaster will be moving to nearby centres including the one in Dunstable.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/amazon-loses-usd-1-trillion-first-company-to-shed-such-value-533122">Amazon loses USD 1 trillion, first company to shed such value</a>

Notably, Amazon operates 30 warehouses and employs at least 70,000 people overall across the UK which is also one of its biggest markets outside the US. The company also said that it plans to open two new warehouses in central and northeast England which would create 2,500 jobs in the next three years.&nbsp;

Last week, Amazon CEO Andy Jassy announced one of the biggest layoffs in the company’s history affecting over 18,000 employees across the world in a bid to reduce costs. Notably, Amazon’s warehouse staff in the UK have also demanded better pay and at least 300 of whom plan to strike on January 25.&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/amazon-layoffs-we-plan-to-eliminate-just-over-18000-roles-says-ceo-andy-jassy-549644">Amazon Layoffs: 'We plan to eliminate just over 18,000 roles,' says CEO Andy Jassy</a>

However, media reports citing an Amazon spokesperson said that these closures are not related to the company-wide layoffs which affect mainly non-warehouse roles in e-commerce and human resources, rather the decision was made after reviewing the online retail giant’s operations in the UK.

(With inputs from agencies)&nbsp; 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The United States-based Amazon is set to restructure its warehouse operations in the United Kingdom and plans to close three of its centres in the country’s Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, which will impact at least 1,200 jobs.

The United States-based Amazon is set to restructure its warehouse operations in the United Kingdom and plans to close three of its centres in the country’s Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, which will impact at least 1,200 jobs. However, the workers will be given a chance to transfer to other Amazon locations, said the online retail giant on Tuesday. This comes days after the company said that it plans to lay off as many as 18,000 employees from its workforce. The over 1,000 workers employed at the three aforementioned British warehouses will be given a chance to move their jobs internally and the workers at Hemel Hempstead and Doncaster will be moving to nearby centres including the one in Dunstable. ALSO READ | Amazon loses USD 1 trillion, first company to shed such value Notably, Amazon operates 30 warehouses and employs at least 70,000 people overall across the UK which is also one of its biggest markets outside the US. The company also said that it plans to open two new warehouses in central and northeast England which would create 2,500 jobs in the next three years. Last week, Amazon CEO Andy Jassy announced one of the biggest layoffs in the company’s history affecting over 18,000 employees across the world in a bid to reduce costs. Notably, Amazon’s warehouse staff in the UK have also demanded better pay and at least 300 of whom plan to strike on January 25. ALSO WATCH | Amazon Layoffs: 'We plan to eliminate just over 18,000 roles,' says CEO Andy Jassy However, media reports citing an Amazon spokesperson said that these closures are not related to the company-wide layoffs which affect mainly non-warehouse roles in e-commerce and human resources, rather the decision was made after reviewing the online retail giant’s operations in the UK. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK: Amazon to restructure warehouse operations, closures put over 1,000 jobs at risk

As a part of the workforce reduction program, the CEO of Amazon Andy Jassy said that the company's layoffs will now stretch to more than 18,000 roles. The layoff decisions which Amazon will communicate starting from January 18th will largely impact the company's e-commerce and human resources.

Amazon Layoffs: 'We plan to eliminate just over 18,000 roles,' says CEO Andy Jassy

Cloud computing firm Salesforce announced on Wednesday that it was closing numerous offices and laying off roughly 8,000 workers, or nearly 10 per cent&nbsp;of its workforce. As the global economy enters a slump, Salesforce will now join fellow US digital giants like&nbsp;Twitter, Amazon, and Facebook-owner Meta in implementing layoffs. The California-based company claimed that last year's revenue decreased due to rife inflation and rising interest rates after experiencing excellent growth during the coronavirus pandemic.

"As our revenue accelerated through the pandemic, we hired too many people...and I take responsibility for that," Salesforce boss Marc Benioff said in a letter to employees.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/technology/from-reach-is-earned-not-bought-to-cause-based-advertising-twitter-to-lift-ban-on-political-advertising-549220">Shifting gears from reach is 'earned not bought' to 'cause-based advt', Twitter lifts ban on political ads</a>

The majority of the layoffs, according to the firm, will occur in the upcoming weeks and will cost between $1.4 billion and $2.1 billion.

Also watch |&nbsp;Gravitas: PM Sunak makes Maths mandatory for UK students

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-pm-sunak-makes-maths-mandatory-for-uk-students-549518/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Salesforce, a company that focuses on business software and cloud computing, claimed to have 79,000 employees worldwide as of December 2022.

This was a significant increase from the 49,000 employees in January 2020, right before the coronavirus epidemic drove office work online and gave Salesforce a substantial boost.

Following the news, Salesforce's stock increased by more than three per cent. The stock has dropped by around 44% in the last year.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

Cloud computing firm Salesforce announced on Wednesday that it was closing numerous offices and laying off roughly 8,000 workers, or nearly 10 per cent of its workforce.

Cloud computing firm Salesforce announced on Wednesday that it was closing numerous offices and laying off roughly 8,000 workers, or nearly 10 per cent of its workforce. As the global economy enters a slump, Salesforce will now join fellow US digital giants like Twitter, Amazon, and Facebook-owner Meta in implementing layoffs. The California-based company claimed that last year's revenue decreased due to rife inflation and rising interest rates after experiencing excellent growth during the coronavirus pandemic. "As our revenue accelerated through the pandemic, we hired too many people...and I take responsibility for that," Salesforce boss Marc Benioff said in a letter to employees. Also read | Shifting gears from reach is 'earned not bought' to 'cause-based advt', Twitter lifts ban on political ads The majority of the layoffs, according to the firm, will occur in the upcoming weeks and will cost between $1.4 billion and $2.1 billion. Also watch | Gravitas: PM Sunak makes Maths mandatory for UK students Salesforce, a company that focuses on business software and cloud computing, claimed to have 79,000 employees worldwide as of December 2022. This was a significant increase from the 49,000 employees in January 2020, right before the coronavirus epidemic drove office work online and gave Salesforce a substantial boost. Following the news, Salesforce's stock increased by more than three per cent. The stock has dropped by around 44% in the last year. (With inputs from agencies) WATCH WION LIVE HERE:

Tech giant Salesforce joins the layoff bandwagon; fires 10% of its workforce

In the face of looming layoffs, a leading newspaper's Pulitzer Prize-winning Indian-American editor has decided to step down from his position. The editor has made this choice in the hopes that other employees would be able to keep their jobs if his compensation is cut from the company's budget. The Detroit Free Press is owned by the media corporation Gannett, and Peter Bhatia is its editor. After two losses in a row, the company&nbsp;is cutting staff.

At earlier this week's employee gathering, Peter Bhatia made his departure from the company known.

“We’re in a difficult period economically. The company is going through a layoff process and I essentially made the decision to lay myself off in the interest of saving other jobs," Peter Bhatia said.

“I do have other opportunities that will probably come to work out at some point," Peter Bhatia added.

“But if by getting my salary out of the budget it saves some jobs of people on the staff, I think that’s the right thing for the Free Press,” he said.

Peter Bhatia will exit&nbsp;the newspaper early in the next year as a result. The number of paid subscribers to the Free Press website increased substantially during his direction. The father of Peter Bhatia is a native of Lucknow who attended Stanford University to study history and communication before working as an editor and reporter for a number of websites in the US.

In addition, he oversaw The Oregonian from 2010 to 2014, making history as the first person of South Asian heritage to lead a renowned American newspaper.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

In the face of looming layoffs, a leading newspaper's Pulitzer Prize-winning Indian-American editor has decided to step down from his position. The editor has made this choice in the hopes that other employees would be able to keep their jobs if his compensation is cut from the company's budget.

In the face of looming layoffs, a leading newspaper's Pulitzer Prize-winning Indian-American editor has decided to step down from his position. The editor has made this choice in the hopes that other employees would be able to keep their jobs if his compensation is cut from the company's budget. The Detroit Free Press is owned by the media corporation Gannett, and Peter Bhatia is its editor. After two losses in a row, the company is cutting staff. At earlier this week's employee gathering, Peter Bhatia made his departure from the company known. “We’re in a difficult period economically. The company is going through a layoff process and I essentially made the decision to lay myself off in the interest of saving other jobs," Peter Bhatia said. “I do have other opportunities that will probably come to work out at some point," Peter Bhatia added. “But if by getting my salary out of the budget it saves some jobs of people on the staff, I think that’s the right thing for the Free Press,” he said. Peter Bhatia will exit the newspaper early in the next year as a result. The number of paid subscribers to the Free Press website increased substantially during his direction. The father of Peter Bhatia is a native of Lucknow who attended Stanford University to study history and communication before working as an editor and reporter for a number of websites in the US. In addition, he oversaw The Oregonian from 2010 to 2014, making history as the first person of South Asian heritage to lead a renowned American newspaper. (With inputs from agencies) WATCH WION LIVE HERE:

Amid layoff season, Indian-American Pulitzer-winning editor steps down so his staff can keep their jobs

Social media company TikTok said on Friday (December 16) that it will cut its Russian staff. The company has stopped key services for Russian users this year.

TikTok has already suspended livestreaming and new uploads in Russia after it introduced strict new censorship rules after it invaded Ukraine in February this year. &nbsp;

"We have had to make a number of decisions this year about our service in Russia, which now unfortunately includes reducing our Russia-based workforce," the company said in a statement.

"We will continue to evaluate the evolving circumstances in Russia to determine when we might fully resume our services with safety as our top priority," it said.

Earlier this week, TikTok drew ire of US lawmakers as US Senate passed a bill to bar federal employees from using the Chinese-owned app on government-owned devices.

The vote is the latest action on the part of US lawmakers to crackdown on Chinese companies amid national security fears that Beijing could use them to spy on Americans.

The Senate action comes after North Dakota and Iowa this week joined a growing number of U.S. states in banning TikTok, owned by ByteDance, from state-owned devices amid concerns that data could be passed on to the Chinese government.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

&nbsp;

Social media company TikTok said on Friday (December 16) that it will cut its Russian staff. The company has stopped key services for Russian users this year. TikTok has already suspended livestreaming and new uploads in Russia after it introduced strict new censorship rules after it invaded Ukraine in February this year.

Social media company TikTok said on Friday (December 16) that it will cut its Russian staff. The company has stopped key services for Russian users this year. TikTok has already suspended livestreaming and new uploads in Russia after it introduced strict new censorship rules after it invaded Ukraine in February this year. "We have had to make a number of decisions this year about our service in Russia, which now unfortunately includes reducing our Russia-based workforce," the company said in a statement. "We will continue to evaluate the evolving circumstances in Russia to determine when we might fully resume our services with safety as our top priority," it said. Earlier this week, TikTok drew ire of US lawmakers as US Senate passed a bill to bar federal employees from using the Chinese-owned app on government-owned devices. The vote is the latest action on the part of US lawmakers to crackdown on Chinese companies amid national security fears that Beijing could use them to spy on Americans. The Senate action comes after North Dakota and Iowa this week joined a growing number of U.S. states in banning TikTok, owned by ByteDance, from state-owned devices amid concerns that data could be passed on to the Chinese government. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

TikTok to cut staff in Russia, says the social media company in statement

At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.The Jeff Bezos-owned news organisation made the decision to shut shop on its Sunday magazine and lay off 11 employees.&nbsp;&nbsp;

Ryan left the meeting, which was scheduled to last an hour, as soon as he disclosed the information of the impending layoffs. Washington Post Guild, the newspaper's employee organisation, posted a video of the CEO appearing to duck questions from the worried employees.

“Today, we came into WaPo’s so-called town hall with questions about recent <a href="https://www.wionews.com/world/ex-ceo-of-ftx-sam-bankman-fried-applies-for-bail-again-after-losing-first-bid-report-543530">layoffs</a> and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions,” the Guild said in a series of tweets.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company. 
 
Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions. <a href="https://t.co/ajNZsZKOBr">pic.twitter.com/ajNZsZKOBr</a>
— Washington Post Guild (@PostGuild) <a href="https://twitter.com/PostGuild/status/1603142794612203521?ref_src=twsrc%5Etfw">December 14, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The CEO also stated that the renowned news organisation will reduce its employment by a "single-digit" proportion, affecting close to 2,500 employees.

Also read |&nbsp;<a href="https://www.wionews.com/photos/layoffs-in-2022-the-year-tech-firms-workers-would-rather-forget-543679">Layoffs in 2022: The year tech firms, workers would rather forget</a>

Concerned employees could be heard asking questions on The Post's plan to protect people's jobs and reassure them.

“Why can’t our publisher give us the transparency we hold as the central tenet of this news organization? How can he turn his back on workers with urgent questions and valid concerns?" the Guild tweeted.

The Guild added that The Post employees have top notch skills, extensive experience, and institutional knowledge that make them unique.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.

At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.The Jeff Bezos-owned news organisation made the decision to shut shop on its Sunday magazine and lay off 11 employees. Ryan left the meeting, which was scheduled to last an hour, as soon as he disclosed the information of the impending layoffs. Washington Post Guild, the newspaper's employee organisation, posted a video of the CEO appearing to duck questions from the worried employees. “Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions,” the Guild said in a series of tweets. Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions. pic.twitter.com/ajNZsZKOBr — Washington Post Guild (@PostGuild) December 14, 2022 × The CEO also stated that the renowned news organisation will reduce its employment by a "single-digit" proportion, affecting close to 2,500 employees. Also read | Layoffs in 2022: The year tech firms, workers would rather forget Concerned employees could be heard asking questions on The Post's plan to protect people's jobs and reassure them. “Why can’t our publisher give us the transparency we hold as the central tenet of this news organization? How can he turn his back on workers with urgent questions and valid concerns?" the Guild tweeted. The Guild added that The Post employees have top notch skills, extensive experience, and institutional knowledge that make them unique. (With inputs from agencies) WATCH WION LIVE HERE:

WATCH: Washington Post CEO announces impending layoffs, leaves meeting midway infuriating employees

PepsiCo Inc is reportedly planning to lay off hundreds of workers from its headquarters in the North American snacks and beverages division, said a report by the Wall Street Journal, signalling that the layoff season might not be limited to Silicon Valley. The New York-based company has reportedly described these layoffs as a way to “simplify” the organisation.&nbsp;

The report by Wall Street Journal citing people familiar with the matter and internal documents said that these layoffs also indicate, “that corporate belt-tightening is extending beyond tech and media”.&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/pepsico-plans-to-cut-hundreds-of-jobs-says-report-540462">PepsiCo plans to cut hundreds of jobs, says report</a>

Furthermore, a memo sent to the employees and reviewed by the publication said that the intention for these layoffs is “simplify the organisation so we can operate more efficiently.” Notably, as of December last year, PepsiCo employed over 300,000 people across the world with at least 129,000 workers in the United States.&nbsp;

The job cuts are set to affect hundreds of employees, one of the people familiar with the matter told the WSJ, including the company’s North American beverage business based in Purchase, New York and PepsiCo’s snacks and packaged-foods business, headquartered in Chicago and Plano, Texas.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/amazon-set-to-fire-20000-employees-including-top-managers-540087">Amazon set to fire 20,000 employees, including top managers</a>

This comes after the demand for the snack and beverage company’s products including Frito-Lay chips, Mountain Dew soft drinks, Doritos and so on, has reportedly been quite strong amid the country’s soaring inflation. However, like many other companies in the industry, have also increased their prices to offset higher costs of ingredients, transport and labour, said the WSJ.&nbsp; 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

PepsiCo Inc is reportedly planning to lay off hundreds of workers from its headquarters in the North American snacks and beverages division, said a report by the Wall Street Journal, signalling that the layoff season might not be limited to Silicon Valley.

PepsiCo Inc is reportedly planning to lay off hundreds of workers from its headquarters in the North American snacks and beverages division, said a report by the Wall Street Journal, signalling that the layoff season might not be limited to Silicon Valley. The New York-based company has reportedly described these layoffs as a way to “simplify” the organisation. The report by Wall Street Journal citing people familiar with the matter and internal documents said that these layoffs also indicate, “that corporate belt-tightening is extending beyond tech and media”. ALSO WATCH | PepsiCo plans to cut hundreds of jobs, says report Furthermore, a memo sent to the employees and reviewed by the publication said that the intention for these layoffs is “simplify the organisation so we can operate more efficiently.” Notably, as of December last year, PepsiCo employed over 300,000 people across the world with at least 129,000 workers in the United States. The job cuts are set to affect hundreds of employees, one of the people familiar with the matter told the WSJ, including the company’s North American beverage business based in Purchase, New York and PepsiCo’s snacks and packaged-foods business, headquartered in Chicago and Plano, Texas. ALSO READ | Amazon set to fire 20,000 employees, including top managers This comes after the demand for the snack and beverage company’s products including Frito-Lay chips, Mountain Dew soft drinks, Doritos and so on, has reportedly been quite strong amid the country’s soaring inflation. However, like many other companies in the industry, have also increased their prices to offset higher costs of ingredients, transport and labour, said the WSJ. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

PepsiCo to lay off hundreds of employees from its headquarters: Report

Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue.

"Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go."

Also read |&nbsp;<a href="https://www.wionews.com/world/us-midterm-elections-2022-live-updates-voting-begins-with-experts-favouring-republicans-532269" hreflang="en">US midterms LIVE | 'Bloodbath!!!': Trump's son tweets as Republicans surge</a>

"We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," he wrote in a blog.

According to CNBC, the employees will receive 16 weeks of base pay as severance and the company will be paying for their healthcare for six months. Zuckerberg apologised to the workers and said, "I want to take accountability for these decisions and for how we got here”.

Also read |&nbsp;<a href="https://www.wionews.com/world/exit-polls-show-most-voters-dont-joe-biden-to-run-for-president-in-2024-532573">Exit polls show most voters don’t want Joe Biden to run for president in 2024</a>

The announcement came amid similar steps taken by Twitter with new owner Elon Musk looking to complete an overhaul of the social media platform. This will be the first budget cut in Facebook’s history and according to experts, it was mainly caused by the failure of the metaverse project.

Apart from the job cuts, Meta has also extended their hiring freeze since March 23 in an attempt to “become a leaner organisation”. &nbsp;The global economy has taken a major hit after the COVID-19 pandemic and that was cited by Zuckerberg while explaining the board’s “tough decisions”.

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue.

Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue. "Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go." Also read | US midterms LIVE | 'Bloodbath!!!': Trump's son tweets as Republicans surge "We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," he wrote in a blog. According to CNBC, the employees will receive 16 weeks of base pay as severance and the company will be paying for their healthcare for six months. Zuckerberg apologised to the workers and said, "I want to take accountability for these decisions and for how we got here”. Also read | Exit polls show most voters don’t want Joe Biden to run for president in 2024 The announcement came amid similar steps taken by Twitter with new owner Elon Musk looking to complete an overhaul of the social media platform. This will be the first budget cut in Facebook’s history and according to experts, it was mainly caused by the failure of the metaverse project. Apart from the job cuts, Meta has also extended their hiring freeze since March 23 in an attempt to “become a leaner organisation”. The global economy has taken a major hit after the COVID-19 pandemic and that was cited by Zuckerberg while explaining the board’s “tough decisions”.

'Sorry to those impacted': Facebook's parent company Meta fires more than 11,000 workers

Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported.

The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts.

Though it is uncertain how many will be asked to go, the WSJ expects the numbers to be in the thousands, making it the largest of the year to date in the tech sector.

Wednesday’s layoff would be the first broad reduction to occur in the&nbsp; company’s 18-year history.

Meta’s head of human resources Lori Goler has assured that the retrenched employees will be provided with at least four months of salary as severance, the newspaper reported citing people familiar with the meeting.

At the meeting, Zuckerberg took responsibility for the overstaffing, which he said was due to his optimism about the company’s growth prospects.

He has specifically mentioned layoffs among business and recruitment teams. The job cuts are expected to start around 6 am Eastern time on Wednesday, with the specific employees losing their jobs informed over the course of the morning.

Watch |&nbsp;WION Business News | Meta preparing large-scale layoffs: Reports

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-business-news-meta-preparing-large-scale-layoffs-reports-531772/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Meta in September reported that more than 87,000 employees are working with it. According to WSJ, company officials have already told employees to cancel non-essential travel beginning this week.

Also read |&nbsp;<a href="https://www.wionews.com/world/twitter-users-may-soon-have-to-pay-more-than-just-8-as-musk-deliberates-putting-platform-behind-paywall-532351">Twitter users may soon have to pay more than $8 as Musk deliberates a paywall</a>

Last month, investors wiped $80bn off the company’s market value after it reported that profits had halved during the third quarter.

Meta’s stock has fallen more than 70 per cent this year on the back of disappointing earning reports in the third quarter. In February, it lost $230bn in market value, making it the biggest one-day loss in the history of a US company.

Also read |&nbsp;<a href="https://www.wionews.com/world/after-twitter-now-facebook-parent-company-meta-will-undergo-massive-layoffs-report-531724">After Twitter, now Facebook parent company Meta will undergo massive layoffs: Report</a>

Notably, Meta is not the only tech company that has announced job cuts. Twitter Inc has laid off thousands of employees as its new boss Elon Musk tries to shore up the revenues and restructure the company.

Snap Inc., owner of Snapchat indicated in August that it is looking to cut around 20 per cent of staff, or more than 1,000 employees, to prepare for what it said would be an expected period of low sales growth lasting into 2023.

(With inputs from agencies)

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported. The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts.

Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported. The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts. Though it is uncertain how many will be asked to go, the WSJ expects the numbers to be in the thousands, making it the largest of the year to date in the tech sector. Wednesday’s layoff would be the first broad reduction to occur in the company’s 18-year history. Meta’s head of human resources Lori Goler has assured that the retrenched employees will be provided with at least four months of salary as severance, the newspaper reported citing people familiar with the meeting. At the meeting, Zuckerberg took responsibility for the overstaffing, which he said was due to his optimism about the company’s growth prospects. He has specifically mentioned layoffs among business and recruitment teams. The job cuts are expected to start around 6 am Eastern time on Wednesday, with the specific employees losing their jobs informed over the course of the morning. Watch | WION Business News | Meta preparing large-scale layoffs: Reports Meta in September reported that more than 87,000 employees are working with it. According to WSJ, company officials have already told employees to cancel non-essential travel beginning this week. Also read | Twitter users may soon have to pay more than $8 as Musk deliberates a paywall Last month, investors wiped $80bn off the company’s market value after it reported that profits had halved during the third quarter. Meta’s stock has fallen more than 70 per cent this year on the back of disappointing earning reports in the third quarter. In February, it lost $230bn in market value, making it the biggest one-day loss in the history of a US company. Also read | After Twitter, now Facebook parent company Meta will undergo massive layoffs: Report Notably, Meta is not the only tech company that has announced job cuts. Twitter Inc has laid off thousands of employees as its new boss Elon Musk tries to shore up the revenues and restructure the company. Snap Inc., owner of Snapchat indicated in August that it is looking to cut around 20 per cent of staff, or more than 1,000 employees, to prepare for what it said would be an expected period of low sales growth lasting into 2023. (With inputs from agencies) WATCH WION LIVE HERE:

Meta boss Mark Zuckerberg says mass layoffs to begin from Wednesday morning

The parent firm of the British Royal Mail postal service announced on&nbsp;Friday that it is looking to lay off up to 10,000 employees, blaming industrial action for significant financial losses.

"Our operational full-time employee workforce will need to reduce by an estimated 10,000 by the end of August 2023," parent group International Distribution Service said in a statement.

Also read |&nbsp;<a href="https://www.wionews.com/world/reports-suggest-queen-consort-camilla-may-not-be-crowned-with-kohinoor-524967">Reports suggest Queen Consort Camilla may not be crowned with Kohinoor</a>

The message also mentioned the possibility of up to 6,000 compulsory<a href="https://www.wionews.com/india-news/indian-edtech-giant-byjus-lays-off-2500-employees-524845"> layoffs</a>.

The company said that its situation had "deteriorated due to the impact of the industrial dispute, an inability to implement the joint productivity enhancements" agreed upon with unions, and "deteriorating package quantities."

Thousands of postal workers who drive recognisable red vans with a crown insignia to carry packages and mail across the country went on strike in August after receiving a pay increase that was much below inflation.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

The parent firm of the British Royal Mail postal service announced on Friday that it is looking to lay off up to 10,000 employees, blaming industrial action for significant financial losses.

The parent firm of the British Royal Mail postal service announced on Friday that it is looking to lay off up to 10,000 employees, blaming industrial action for significant financial losses. "Our operational full-time employee workforce will need to reduce by an estimated 10,000 by the end of August 2023," parent group International Distribution Service said in a statement. Also read | Reports suggest Queen Consort Camilla may not be crowned with Kohinoor The message also mentioned the possibility of up to 6,000 compulsory layoffs. The company said that its situation had "deteriorated due to the impact of the industrial dispute, an inability to implement the joint productivity enhancements" agreed upon with unions, and "deteriorating package quantities." Thousands of postal workers who drive recognisable red vans with a crown insignia to carry packages and mail across the country went on strike in August after receiving a pay increase that was much below inflation. (With inputs from agencies) WATCH WION LIVE HERE:

UK's Royal Mail seeks to slash up to 10,000 jobs; attributes losses to industrial strike

US job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade industries, but overall the labor market remains tight, allowing the Federal Reserve to continue raising interest rates.

US job openings at nine-month low

A major London tube strike is underway, it'll go on until Tuesday morning. The London underground is advising people not to travel if they can avoid doing so and to work from home if possible. At least, 4,000 staff members have walked out over issues around job cuts.

London: Tube strikes add to travel disruption, 4000 staff members walk out over job cuts issue

Tesla CEO Elon Musk intends to cut about 10% of jobs in the company as has a "super bad feeling" about the economy, he said in an email to executives on Thursday.

On Tuesday, Musk told staff to return to the workplace or leave the company, a demand that has already faced pushback in Germany where the company has a new factory.

"Everyone at Tesla is required to spend a minimum of 40 hours in the office per week," Musk wrote in that email."If you don't show up, we will assume you have resigned."

Inflation in the United States is hovering at 40-year highs and has caused a jump in the cost of living for Americans. At the same time, the Federal Reserve faces the difficult task of dampening demand enough to curb inflation while not causing a recession.

In late May, when asked by a Twitter user whether the economy was approaching a recession, Musk said, "Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen."

Musk's stark warning of a potential recession and the knock-on effect for automakers is the most direct and high-profile forecast of its kind in the industry.&nbsp;

While concerns about the risk of a recession have grown, demand for Tesla cars and other electric vehicles has remained strong and many of the traditional indicators of a downturn - including increasing dealer inventories in the United States - have not materialized.

But Tesla has struggled to restart production at its Shanghai factory after COVID-19 lockdowns forced costly outages at the plant.

[ With inputs from agencies] 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Tesla CEO Elon Musk intends to cut about 10% of jobs in the company as has a "super bad feeling" about the economy, he said in an email to executives on Thursday.

Tesla CEO Elon Musk intends to cut about 10% of jobs in the company as has a "super bad feeling" about the economy, he said in an email to executives on Thursday. On Tuesday, Musk told staff to return to the workplace or leave the company, a demand that has already faced pushback in Germany where the company has a new factory. "Everyone at Tesla is required to spend a minimum of 40 hours in the office per week," Musk wrote in that email."If you don't show up, we will assume you have resigned." Inflation in the United States is hovering at 40-year highs and has caused a jump in the cost of living for Americans. At the same time, the Federal Reserve faces the difficult task of dampening demand enough to curb inflation while not causing a recession. In late May, when asked by a Twitter user whether the economy was approaching a recession, Musk said, "Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen." Musk's stark warning of a potential recession and the knock-on effect for automakers is the most direct and high-profile forecast of its kind in the industry. While concerns about the risk of a recession have grown, demand for Tesla cars and other electric vehicles has remained strong and many of the traditional indicators of a downturn - including increasing dealer inventories in the United States - have not materialized. But Tesla has struggled to restart production at its Shanghai factory after COVID-19 lockdowns forced costly outages at the plant. [ With inputs from agencies] WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk may cut 10% jobs in Tesla, he has 'super bad feeling' about economy

Boeing Co unveiled a fourth straight quarterly loss and deeper job cuts on Wednesday as the coronavirus pandemic and the lengthy grounding of its 737 MAX continued to hammer revenue.

Boeing deepens job cuts as twin crises extend losses

According to a World Economic Forum (WEF) study, robots will destroy 85 million jobs as the coronavirus pandemic brings about changes in the workplace worldwide.

<a href="https://www.wionews.com/entertainment/cineworld-shuts-uk-us-theatres-impacting-45000-jobs-332610">Also Read:&nbsp;Cineworld shuts UK, US theatres impacting 45,000 jobs</a>

The study said at least 300 global companies were planning to digitise work and deploy new technologies as the "COVID-19 accelerates the arrival of the future of work".

The study said workers need to learn new skills in the next five years to stay afloat. The report comes even as sectors across the world have been cutting millions of jobs due to the coronavirus pandemic even as employees work from home.&nbsp;

US Labour Department's data showed new applications for US jobless benefits rose to a seven-week high of 898,000 last week, an increase of 53,000 amid the pandemic. It was the sharpest rise in two months as the United States attempts to recover from mass layoffs amid the virus.

WEF said job creation is slowing and job destruction is accelerating as companies use technology rather than people for data entry.

However, the silver lining is that 97 million jobs will emerge across industries like artificial intelligence (AI), it said.

"The tasks where humans are set to retain their comparative advantage include managing, advising, decision-making, reasoning, communicating and interacting," it said. 
The study said that mid-sized employees were at most risk with at least 43 per cent businesses surveyed set to reduce their workforce due to technology integration

According to a World Economic Forum (WEF) study, robots will destroy 85 million jobs as the coronavirus pandemic brings about changes in the workplace worldwide.

According to a World Economic Forum (WEF) study, robots will destroy 85 million jobs as the coronavirus pandemic brings about changes in the workplace worldwide. Also Read: Cineworld shuts UK, US theatres impacting 45,000 jobs The study said at least 300 global companies were planning to digitise work and deploy new technologies as the "COVID-19 accelerates the arrival of the future of work". The study said workers need to learn new skills in the next five years to stay afloat. The report comes even as sectors across the world have been cutting millions of jobs due to the coronavirus pandemic even as employees work from home. US Labour Department's data showed new applications for US jobless benefits rose to a seven-week high of 898,000 last week, an increase of 53,000 amid the pandemic. It was the sharpest rise in two months as the United States attempts to recover from mass layoffs amid the virus. WEF said job creation is slowing and job destruction is accelerating as companies use technology rather than people for data entry. However, the silver lining is that 97 million jobs will emerge across industries like artificial intelligence (AI), it said. "The tasks where humans are set to retain their comparative advantage include managing, advising, decision-making, reasoning, communicating and interacting," it said. The study said that mid-sized employees were at most risk with at least 43 per cent businesses surveyed set to reduce their workforce due to technology integration

Robots will destroy 85 million jobs as pandemic shifts labour demand: Study

Thousands of Airbus workers marched alongside an airport runway in the south of France and gathered in front of a plant in the country's west on Wednesday (July 8) to protest against plans to cut up to 15,000 jobs.

Thousands of Airbus workers in France march in protest over job cuts

European plane-maker<a href="https://www.wionews.com/india-news/india-steps-up-probe-into-2006-sale-of-airbus-aircraft-to-indian-airlines-281636"> Airbus</a> said Wednesday it planned to cut 2,362 jobs in its Defence and Space division over the next two years.

Airbus cited a "flat space market and postponed contracts on the defence side" for the decision to cut 829 jobs in Germany, 630 in Spain, 404 in France and 357 in Britain.

A further 142 jobs will be cut in other countries, it said, adding that it was in talks with its European works council on the restructuring. 
"Airbus Defence and Space will provide updates on its plans and continues a constructive dialogue with employee representatives," it said in a statement.

The Defence and Space division accounts for 15 per cent of the group's revenue.

It posted operating losses of $951 million&nbsp;in 2019.

Airbus said that "while the underlying business perspectives, especially in the core business, remain solid", job cuts were necessary after the book-to-bill ratio -&nbsp;the ratio of orders received to amounts billed -&nbsp;fell below one&nbsp;for the third year in a row.

France-based Airbus last week reported a net loss of 1.36 billion euros in 2019, mainly due to a 3.6-billion-euro fine over a bribery scandal and extra development costs for the A400M transport aircraft.

European plane-maker Airbus said Wednesday it planned to cut 2,362 jobs in its Defence and Space division over the next two years. Airbus cited a "flat space market and postponed contracts on the defence side" for the decision to cut 829 jobs in Germany, 630 in Spain, 404 in France and 357 in Britain.

European plane-maker Airbus said Wednesday it planned to cut 2,362 jobs in its Defence and Space division over the next two years. Airbus cited a "flat space market and postponed contracts on the defence side" for the decision to cut 829 jobs in Germany, 630 in Spain, 404 in France and 357 in Britain. A further 142 jobs will be cut in other countries, it said, adding that it was in talks with its European works council on the restructuring. "Airbus Defence and Space will provide updates on its plans and continues a constructive dialogue with employee representatives," it said in a statement. The Defence and Space division accounts for 15 per cent of the group's revenue. It posted operating losses of $951 million in 2019. Airbus said that "while the underlying business perspectives, especially in the core business, remain solid", job cuts were necessary after the book-to-bill ratio - the ratio of orders received to amounts billed - fell below one for the third year in a row. France-based Airbus last week reported a net loss of 1.36 billion euros in 2019, mainly due to a 3.6-billion-euro fine over a bribery scandal and extra development costs for the A400M transport aircraft.

Airbus to cut jobs in defence & space division

Companies across the board are planning to lay off employees in hundreds and thousands. There is no confidence in the global economic situation.

Now, Coronavirus too is rearing its head, threatening to collapse the world's factory - China. The job cuts have not spared any major economy, including India. &nbsp;

The global job crisis can turn this year into a year of job cuts. Here's a rundown of the jobs situation across the world:

As the global economy teeters on the recession, last year's press releases on cost-cutting are turning into this year's pink slips.

2020 is turning out to be the year of job cuts. Whatever we may choose to blame it on - Brexit, US-China trade war or the deadly coronavirus. It is certain that there will be fewer jobs in the coming year. Nearly 50 banks across the world will together lay off over 75,000 employees.

HSBC alone is planning to cull 35,000 jobs, Deutsche Bank is planning to get rid of 18,000 employees by 2022. And JP Morgan chase plans to dismiss hundreds of employees this year after letting go nearly 7,000 people in the last four years.

All this in an attempt to slash costs. There is one more reason - with banks going digital, consumer-facing executives have become dead-weight.

And it's not just banks, the auto industry is on a bumpy road. 
 
WATCH: Is 2020 the year of job cuts?&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-2020-the-year-of-job-cuts-281455/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The once-resilient German auto industry today resembles the now sleepy town of Detroit - the city that marks the fall of the US auto industry.

Globally, more than 5,00,000 auto-related jobs were shed last year. Nearly 1,00,000 auto workers have lost their jobs in Germany.

With the maker of Mercedes cars - Daimler - culling 10,000 jobs recently, now, Renault is planning to cut 20,000 jobs in Germany alone.

Agreed, there is a massive shift to electric vehicles. But, US President Donald Trump's trade war made it worse - Jaguar Land Rover's sales in China plummeted. The Indian-owned British luxury carmaker is now looking to cut 500 jobs at its Halewood plant in the UK.

While the trade-war was seemingly cooling off, the deadly coronavirus has led to the shutdown of factories in China. 
&nbsp; 
Cutting off auto component supplies to factories in Europe, 80,000 auto workers may lose their jobs this year.

Closer home, Bosch is planning to cut thousands of jobs in India as the domestic auto industry shows no signs of recovery.

And if Vodafone, Idea fail to gather enough money to pay off its dues to the government, over 13,000 people could lose their jobs.

Even the state-run BSNL and MTNL could not remain bloated. Nearly 93,000 employees were given the golden handshake.&nbsp;

While startups keep mushrooming, unicorns like Oyo, Paytm and Uber are shedding flab in India.

IT employees in India, especially mid-to-senior level staff, stand the risk of losing their jobs.

As most firms are likely to lay off over 5-8 per cent of the total workforce in the coming quarters which translates to about 10,000-20,000 employees in each large firm.

&nbsp;

Companies across the board are planning to lay off employees in hundreds and thousands. There is no confidence in the global economic situation. Now, Coronavirus too is rearing its head, threatening to collapse the world's factory - China.

Companies across the board are planning to lay off employees in hundreds and thousands. There is no confidence in the global economic situation. Now, Coronavirus too is rearing its head, threatening to collapse the world's factory - China. The job cuts have not spared any major economy, including India. The global job crisis can turn this year into a year of job cuts. Here's a rundown of the jobs situation across the world: As the global economy teeters on the recession, last year's press releases on cost-cutting are turning into this year's pink slips. 2020 is turning out to be the year of job cuts. Whatever we may choose to blame it on - Brexit, US-China trade war or the deadly coronavirus. It is certain that there will be fewer jobs in the coming year. Nearly 50 banks across the world will together lay off over 75,000 employees. HSBC alone is planning to cull 35,000 jobs, Deutsche Bank is planning to get rid of 18,000 employees by 2022. And JP Morgan chase plans to dismiss hundreds of employees this year after letting go nearly 7,000 people in the last four years. All this in an attempt to slash costs. There is one more reason - with banks going digital, consumer-facing executives have become dead-weight. And it's not just banks, the auto industry is on a bumpy road. WATCH: Is 2020 the year of job cuts? × The once-resilient German auto industry today resembles the now sleepy town of Detroit - the city that marks the fall of the US auto industry. Globally, more than 5,00,000 auto-related jobs were shed last year. Nearly 1,00,000 auto workers have lost their jobs in Germany. With the maker of Mercedes cars - Daimler - culling 10,000 jobs recently, now, Renault is planning to cut 20,000 jobs in Germany alone. Agreed, there is a massive shift to electric vehicles. But, US President Donald Trump's trade war made it worse - Jaguar Land Rover's sales in China plummeted. The Indian-owned British luxury carmaker is now looking to cut 500 jobs at its Halewood plant in the UK. While the trade-war was seemingly cooling off, the deadly coronavirus has led to the shutdown of factories in China. Cutting off auto component supplies to factories in Europe, 80,000 auto workers may lose their jobs this year. Closer home, Bosch is planning to cut thousands of jobs in India as the domestic auto industry shows no signs of recovery. And if Vodafone, Idea fail to gather enough money to pay off its dues to the government, over 13,000 people could lose their jobs. Even the state-run BSNL and MTNL could not remain bloated. Nearly 93,000 employees were given the golden handshake. While startups keep mushrooming, unicorns like Oyo, Paytm and Uber are shedding flab in India. IT employees in India, especially mid-to-senior level staff, stand the risk of losing their jobs. As most firms are likely to lay off over 5-8 per cent of the total workforce in the coming quarters which translates to about 10,000-20,000 employees in each large firm.

How 2020 is turning out to be the year of job cuts

HSBC Bank to cut 15% of total global workforce. Bank operates in 64 countries. There would be “meaningful” job cuts in the UK, mainly affecting its head office operations and global banks and markets business.

HSBC bank plans massive job cut

Thyssenkrupp&nbsp;will make sweeping job cuts and give an update on the new company structure in November, the company's new Chief Executive Martina Merz told employees on Wednesday.

The German group announced in May it was open to new ownership structures for its car parts, plant engineering, marine systems, and elevators units, but investors criticised a lack of progress, leading to the <a href="https://www.wionews.com/world/thyssenkrupp-plunged-into-turmoil-as-ceo-kerkhoff-set-to-leave-252022">dismissal of CEO Guido Kerkhoff.</a>

This led to the installation of Martina Merz, who addressed her top managers for the first time as CEO this week.

"This is about strengthening businesses and improving performance. This is not a sellout," Merz said in the letter, which was released to employees following the management meeting.

Thyssenkrupp, which has already announced 6,000 positions will go, declined to put a figure on potential job losses, pending negotiations about cuts with labour leaders.

It said an update about the revamp would be given in November and that employees would have clarity in early 2020.

"It is true that this will not be possible without significant job cuts," Merz said, explaining that big changes were afoot in the Component Technologies and Industrial Solutions divisions.

Component Technologies will be renamed Automotive Technology and a new structure will be introduced.

Marcel Fasswald, Chief Executive of Thyssenkrupp Industrial Solutions, has left the company, Merz said.

Thyssenkrupp will, however, continue with plans to sell or list its Elevators division, Merz said.

Thyssenkrupp will make sweeping job cuts and give an update on the new company structure in November, the company's new Chief Executive Martina Merz told employees on Wednesday.

Thyssenkrupp will make sweeping job cuts and give an update on the new company structure in November, the company's new Chief Executive Martina Merz told employees on Wednesday. The German group announced in May it was open to new ownership structures for its car parts, plant engineering, marine systems, and elevators units, but investors criticised a lack of progress, leading to the dismissal of CEO Guido Kerkhoff. This led to the installation of Martina Merz, who addressed her top managers for the first time as CEO this week. "This is about strengthening businesses and improving performance. This is not a sellout," Merz said in the letter, which was released to employees following the management meeting. Thyssenkrupp, which has already announced 6,000 positions will go, declined to put a figure on potential job losses, pending negotiations about cuts with labour leaders. It said an update about the revamp would be given in November and that employees would have clarity in early 2020. "It is true that this will not be possible without significant job cuts," Merz said, explaining that big changes were afoot in the Component Technologies and Industrial Solutions divisions. Component Technologies will be renamed Automotive Technology and a new structure will be introduced. Marcel Fasswald, Chief Executive of Thyssenkrupp Industrial Solutions, has left the company, Merz said. Thyssenkrupp will, however, continue with plans to sell or list its Elevators division, Merz said.

Thyssenkrupp CEO announces sweeping job cuts

Jaguar Land Rover is set to announce up to 5,000 job cuts on Thursday, the BBC reported, after being buffeted by slumping sales in China and<a href="http://www.wionews.com/world/british-pm-theresa-may-suffers-parliament-defeat-as-brexit-debate-restarts-189271"> concerns over Brexit</a>.

The iconic British carmaker, which is owned by India's Tata Motors and employs more than 40,000 people in Britain, could not immediately be reached for comment when contacted by AFP.

Marketing, management and administration roles are expected to be those most affected, the BBC report said.

According to the broadcaster, the job layoffs are part of a £2.5 billion ($3.2 billion, 2.75 billion euro) cuts programme.

The report said JLR had been hit by a slump in Chinese sales, a downturn in diesel vehicle sales and fears about Britain's competitiveness after Brexit.

The carmaker has already moved to ensure it will still have a plant inside the European Union after Britain's planned departure from the bloc on March 29.

In October, JLR opened a 1.4-billion-euro ($1.6-billion) factory in Nitra, western Slovakia, its first in continental Europe.

In July it had warned that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, saying the future was unpredictable if free and frictionless trade with the EU and unrestricted access to its single market was not maintained.

Britain's business minister Greg Clark said a no-deal Brexit would be a disaster for the firm.

"JLR is a stellar company with a first-class workforce," he told BBC radio.

"They have always been clear that their success depends on exports, including to the rest of the EU.

"They are one of the prime examples of a brilliant just-in-time manufacturing process... that helps them be competitive.

"Given the difficulties that they are going through... to add further costs and further disruption from a no-deal Brexit, it's clear why they have been so clear why this would be against their interests."

Jaguar Land Rover is set to announce up to 5,000 job cuts on Thursday, the BBC reported, after being buffeted by slumping sales in China and concerns over Brexit.

Jaguar Land Rover is set to announce up to 5,000 job cuts on Thursday, the BBC reported, after being buffeted by slumping sales in China and concerns over Brexit. The iconic British carmaker, which is owned by India's Tata Motors and employs more than 40,000 people in Britain, could not immediately be reached for comment when contacted by AFP. Marketing, management and administration roles are expected to be those most affected, the BBC report said. According to the broadcaster, the job layoffs are part of a £2.5 billion ($3.2 billion, 2.75 billion euro) cuts programme. The report said JLR had been hit by a slump in Chinese sales, a downturn in diesel vehicle sales and fears about Britain's competitiveness after Brexit. The carmaker has already moved to ensure it will still have a plant inside the European Union after Britain's planned departure from the bloc on March 29. In October, JLR opened a 1.4-billion-euro ($1.6-billion) factory in Nitra, western Slovakia, its first in continental Europe. In July it had warned that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, saying the future was unpredictable if free and frictionless trade with the EU and unrestricted access to its single market was not maintained. Britain's business minister Greg Clark said a no-deal Brexit would be a disaster for the firm. "JLR is a stellar company with a first-class workforce," he told BBC radio. "They have always been clear that their success depends on exports, including to the rest of the EU. "They are one of the prime examples of a brilliant just-in-time manufacturing process... that helps them be competitive. "Given the difficulties that they are going through... to add further costs and further disruption from a no-deal Brexit, it's clear why they have been so clear why this would be against their interests."

Jaguar Land Rover to cut 5,000 UK jobs: Report

Verizon Communications is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo&#39;s core assets next week, a person briefed on the matter said.

The cuts are expected to come from Verizon&#39;s AOL and Yahoo units and represent about 15 per cent of the staff at the two units. About 14,000 people work at AOL and Yahoo.

Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public.

Yahoo shareholders on Thursday approved the company&#39;s sale, according to preliminary results from a shareholder meeting, and it is expected to be completed on Tuesday.

The No. 1 US wireless operator is combining Yahoo&#39;s search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought in 2015 for $4.4 billion. Verizon expects mobile video and advertising to be new sources of revenue outside the oversaturated wireless market. Verizon shares are down 15 per cent this year.

The acquisition marks the end of the line for Yahoo as a standalone company, a storied Web pioneer once valued at more than $100 billion.

Verizon is rebranding AOL and Yahoo as part of a new venture called Oath, led by AOL Chief Executive Officer Tim Armstrong.

Verizon is betting it can use data from more than 200 million unique monthly visitors to Yahoo sites and combine it with data on 150 million unique monthly AOL users and its own user base of over 100 million wireless subscribers to offer more targeted services for advertisers.

The Yahoo deal came after activist investors led by Starboard Value LP lost faith in Yahoo Chief Executive Officer Marissa Mayer, who was hired in 2012, and forced the sale of the company&#39;s core assets. Mayer is not expected to remain at Yahoo after the sale is completed.

Yahoo is still one of the largest properties on the internet, with hundreds of millions of customers using its email, finance and sports offerings, and a heavily trafficked home page. In February 2016, Yahoo announced it was cutting 1,600 employees, or 15 per cent of its staff.

The deal&#39;s closing was delayed as the companies assessed the fallout from two Yahoo data breaches.

Yahoo disclosed in December that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history. This followed a separate disclosure that at least 500 million accounts were affected in a 2014 breach.

(Reuters)

About 14,000 people work at AOL and Yahoo

Verizon Communications is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo's core assets next week, a person briefed on the matter said. The cuts are expected to come from Verizon's AOL and Yahoo units and represent about 15 per cent of the staff at the two units. About 14,000 people work at AOL and Yahoo. Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public. Yahoo shareholders on Thursday approved the company's sale, according to preliminary results from a shareholder meeting, and it is expected to be completed on Tuesday. The No. 1 US wireless operator is combining Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought in 2015 for $4.4 billion. Verizon expects mobile video and advertising to be new sources of revenue outside the oversaturated wireless market. Verizon shares are down 15 per cent this year. The acquisition marks the end of the line for Yahoo as a standalone company, a storied Web pioneer once valued at more than $100 billion. Verizon is rebranding AOL and Yahoo as part of a new venture called Oath, led by AOL Chief Executive Officer Tim Armstrong. Verizon is betting it can use data from more than 200 million unique monthly visitors to Yahoo sites and combine it with data on 150 million unique monthly AOL users and its own user base of over 100 million wireless subscribers to offer more targeted services for advertisers. The Yahoo deal came after activist investors led by Starboard Value LP lost faith in Yahoo Chief Executive Officer Marissa Mayer, who was hired in 2012, and forced the sale of the company's core assets. Mayer is not expected to remain at Yahoo after the sale is completed. Yahoo is still one of the largest properties on the internet, with hundreds of millions of customers using its email, finance and sports offerings, and a heavily trafficked home page. In February 2016, Yahoo announced it was cutting 1,600 employees, or 15 per cent of its staff. The deal's closing was delayed as the companies assessed the fallout from two Yahoo data breaches. Yahoo disclosed in December that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history. This followed a separate disclosure that at least 500 million accounts were affected in a 2014 breach. (Reuters)

Verizon expected to cut 2,000 jobs at Yahoo, AOL

Lloyds Banking Group plans to axe about 640 jobs, sources close to the matter said on Wednesday, as Britain&#39;s largest mortgage lender continues to scale back its branch network and workforce. 
 
All affected employees working in information technology and back-office roles and are being told of the decision on Wednesday, the sources said on condition of anonymity because they are not authorised to discuss the plans. 
 
Lloyds, who rescued in a 20.5 billion Pound ($27.4 billion) taxpayer bailout during the financial crisis, is in the midst of major restructuring as part of an aggressive cost-cutting programme. 
 
&quot;The continuation of the bank&#39;s major job loss programme will bring disappointment as staff feel they have already faced two years of endless workforce cuts,&quot; said Rob MacGregor, national officer at the Unite union. 
 
A statement from Lloyds said there will be a net reduction of 525 jobs where newly created roles are included. The bank also said it is closing 23 branches by October because customers increasingly bank online and more functions are automated. 
 
The bank, more than two thirds of the way through three-year plan to cut about a tenth of its workforce, could now consider deeper cuts than originally targetted because of the programme&#39;s swift progress, two separate sources said. 
 
The latest cuts coincide with the biggest upheaval for British banks since the financial crisis. 
 
British voters&#39; surprise decision, last week, to leave the European Union is forcing bank executives to reconsider business models amid uncertainty and earnings downgrades that prompted rattled investors to offload billions of pounds of shares. 
 
Sources close to Britain&#39;s government say it has put on hold plans to sell stakes in Lloyds because market volatility has made it too difficult to judge whether disposals represent value for taxpayers. 
 
The employees affected by Wednesday&#39;s job cuts work in cities including London, Edinburgh, Bristol and Manchester, the sources said. 
 
So far this year, Lloyds has announced plans to cut about 3,580 positions from its 75,000-strong workforce. 
 
The Unite union has said the drawn out process job losses are taking a toll on Lloyds staff, with three quarters of its employees reporting symptoms of stress and four out of every five working unpaid overtime every week. 
 
(Reuters)

Four out of every five employees at Lloyds, who received a $27 bailout in 2009, were reportedly working unpaid overtime every week

Lloyds Banking Group plans to axe about 640 jobs, sources close to the matter said on Wednesday, as Britain's largest mortgage lender continues to scale back its branch network and workforce. All affected employees working in information technology and back-office roles and are being told of the decision on Wednesday, the sources said on condition of anonymity because they are not authorised to discuss the plans. Lloyds, who rescued in a 20.5 billion Pound ($27.4 billion) taxpayer bailout during the financial crisis, is in the midst of major restructuring as part of an aggressive cost-cutting programme. "The continuation of the bank's major job loss programme will bring disappointment as staff feel they have already faced two years of endless workforce cuts," said Rob MacGregor, national officer at the Unite union. A statement from Lloyds said there will be a net reduction of 525 jobs where newly created roles are included. The bank also said it is closing 23 branches by October because customers increasingly bank online and more functions are automated. The bank, more than two thirds of the way through three-year plan to cut about a tenth of its workforce, could now consider deeper cuts than originally targetted because of the programme's swift progress, two separate sources said. The latest cuts coincide with the biggest upheaval for British banks since the financial crisis. British voters' surprise decision, last week, to leave the European Union is forcing bank executives to reconsider business models amid uncertainty and earnings downgrades that prompted rattled investors to offload billions of pounds of shares. Sources close to Britain's government say it has put on hold plans to sell stakes in Lloyds because market volatility has made it too difficult to judge whether disposals represent value for taxpayers. The employees affected by Wednesday's job cuts work in cities including London, Edinburgh, Bristol and Manchester, the sources said. So far this year, Lloyds has announced plans to cut about 3,580 positions from its 75,000-strong workforce. The Unite union has said the drawn out process job losses are taking a toll on Lloyds staff, with three quarters of its employees reporting symptoms of stress and four out of every five working unpaid overtime every week. (Reuters)

Lloyds to axe 640 jobs in cost-cutting drive

job-cuts

Job Cuts, News on Job Cuts, stories on Job Cuts, articles on Job Cuts, Job Cuts stories at Wion, Job Cuts news, Job Cuts latest news