A prominent IT services company has announced a series of layoffs affecting its workforce in India. The move is part of a larger restructuring effort aimed at enhancing operational efficiencies. Impacted employees have been offered severance packages and access to job search resources. The company is focusing on streamlining processes and realigning its business strategy.
Cognizant's India operations have laid off 6,000 employees as the company pivots towards more digital and software services. This move is part of Cognizant's broader strategy to focus on high-margin sectors and reduce dependency on traditional IT services.
The tech industry continues to face massive layoffs in 2024, with over 1,30,000 IT employees losing their jobs so far. Over 1,30,000 IT employees have lost their jobs in 2024 due to ongoing tech layoffs Cisco, Intel, Microsoft, among the top companies who announced workforce reductions Economic challenges are driving these job cuts The tech industry, which was shaken by mass layoffs at the start of 2023, has continued to experience rounds of...
A major Indian bank has announced a significant downsizing of its workforce as it accelerates its digital transformation efforts. The move is aimed at reducing operational costs and enhancing service efficiency. Affected employees have expressed concerns over job security and future employment prospects. The bank plans to provide support through financial compensation and retraining programs.
In response to declining demand, a major manufacturing company has decided to reduce its workforce in India. The layoffs are part of a broader strategy to align production with market conditions. Hundreds of employees are set to lose their jobs, raising concerns about the economic impact on local communities. The company is providing exit packages and support to help affected employees transition.
An e-commerce giant has decided to cut down its workforce in India, citing market volatility and financial constraints. The layoffs are expected to affect several hundred employees. The company is reallocating resources to focus on core business areas as part of its strategy to navigate the challenging economic environment. The affected employees will receive assistance in the form of severance pay and outplacement services.
Ride-sharing company Ola has laid off 20% of its employees as it struggles with cash burn and aims to streamline its business operations. These layoffs are part of an organisational restructuring to ensure long-term sustainability and profitability.
Food delivery app Zomato has laid off hundreds of employees in an effort to improve financial health and streamline operations. The company is shifting focus towards profitability and operational efficiency while navigating a challenging competitive landscape.
A leading pharmaceutical firm has announced layoffs in its Indian operations as it looks to cut costs and improve profitability. The decision comes amid increasing market pressures and competition. The layoffs will affect employees across different roles, with the company pledging to offer severance pay and reemployment assistance. This move reflects broader challenges faced by the pharmaceutical industry.
A prominent IT services company has announced a series of layoffs affecting its workforce in India. The move is part of a larger restructuring effort aimed at enhancing operational efficiencies. Impacted employees have been offered severance packages and access to job search resources. The company is focusing on streamlining processes and realigning its business strategy.
The tech sector witnessed a significant increase in job losses in August, with over 27,000 employees affected. Major tech firms, including Intel, IBM, and Cisco, along with more than 40 smaller startups, announced substantial layoffs. So far this year, the industry has seen over 136,000 tech professionals laid off across 422 companies. Intel cuts 15,000 jobs On Thursday, Intel announced in a memo to its employees that it...