PNB has identified 23 internal working groups and will soon float Request for Proposals (RFPs) to appoint a consultant for restructuring products and services that are best-suited for the customers of the merged entity.
The move cuts Uber's strength by 8 percent and is the startup’s second round of layoffs since it fired 400 marketing employees in July
Most of Indian IT firms are not equipped to handle large volumes of digital projects coming their way
Experts peg the layoffs to be less than 10,000 coupled with bullish hiring at the back of huge demand for digital.
Companies are now offering special benefits like outplacement and health insurance.
"In June, hundreds of P2P lenders fell like dominoes. Two months later, the revenue of image editing software developer Meitu fell 5.9 per cent year-on-year, reporting a USD 127 million net loss," a write-up in the state-run Global Times said.
"Even as the economy improves, layoffs - due to cost cutting, reducing redundancies after a merger or acquisition, and restructuring events due to changes in the industry - remain commonplace," career transition company Risesmart said in a report after interviewing 1,000 executives.
The world's largest retailer and private employer, officially called Wal-Mart Stores Inc , will shutter 63 of its Sam's Club discount warehouses, or about one tenth of the chain overall, according to a senior company official who declined to be named.
An online learning platform, Simplilearn, is offering ‘Bounce Back Scholarships’ to professionals who have been laid off in the last 60 days.
The recent dismissal of an information technology company employee over a phone call, which has sent shock waves among people in the industry could have been handled better, experts say
Employees fear that release from ongoing projects to a bench awaiting deployment to a new client could mean a layoff.
Karnataka IT Minister Priyank Kharge has informed All India IT Employees Association he will meet them 'soon' to discuss the issues.
"The Forum for Information Technology Employees (FITE) will be getting itself registered formally as the first union for IT employees in India," forum's vice-president Vasumathi said.
Two people told CNBC the company is planning massive layoffs in the U.S., with one source saying that only 60 employees will be left after the cut. The company's current headcount in the U.S. is over 500, according to this person.
Most of the big Indian and multinational IT companies have announced that they are going to trim their workforce to realign their business model.
Tech Mahindra will be conducting company-wide performance review and could remove large part portion of under-performing workforce.
The year 2017 has brought news of several startups shutting down and employees being laid off. However, most founders seem to be completely naive to the art of laying off to survive a lean period.
The e-commerce unicorn is planning to hire more than 1,200 people for its engineering and technology teams and also wants to reduce its dependence on third party logistics providers.
Dark clouds of job cuts loom over the telecom sector. The risk running with mergers is that as many as 10,000 employees may lose their jobs over the next year.
Gurgaon based Snapdeal used to claim over 300,000 sellers on its platform, much larger than that of bigger rivals Flipkart and Amazon. Sources say that the company will only be focusing on the active seller base.
The co-founders said that the company will now only look at profitability than a race with others to increase their GMV (Gross Merchandise Volume).
The loss-burdened e-commerce major's co-founders Kunal Bahl and Rohit Bansal admitted to 'errors in execution' amid plans to axe 500-600 employees starting next week.
The insinuation that Cisco may have leaked news of layoffs was "insulting" and "irresponsible," CEO Chuck Robbins told CNBC on Thursday.
Several US lawmakers have proposed revisions to visa laws to include measures allowing former employees to contest their layoffs after a number of American workers lost their jobs to immigrants from countries like India on H-1B and other work visas, a media report said today.
Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices.