Company layoffs thread 2020/coronavirus recession layoffs

[linksys23]

LTT

[snoww]

In a message to employees Friday, Spirit AeroSystems announced plans to lay off about 1,450 hourly and salaried employees in in Wichita.

The company says "it will reduce employment at sites supporting commercial programs a result of lower demand for commercial airplanes.

Spirit is a supplier to Airbus and Boeing, both reporting lower production rates for commercial aircraft to COVID-19's impact on the aviation industry.

"Our actions follow reduced demand from our customers, who have lowered production rates as demand for new airplanes declines due to the impact of COVID-19," says Spirit AeroSystems President and CEO Tom Gentile. "In addition to reducing employment, we are taking other initiatives to lower costs and preserve liquidity, which included raising $1.2 billion in high yield secured second lien bonds in April. We are focused on ensuring Spirit AeroSystems remains a healthy business and emerges from this crisis with a bright future."

Earlier this week, Spirit offered a voluntary-layoff option to union-represented employees in Wichita. Friday, the company issued a notice of layoffs to the State of Kansas under the Worker Adjustment and Retraining Notification (WARN) Act.

[snoww]

• Airbnb on Tuesday said it plan to layoff as many as 1,900 employees, or about 25% of the company, a source confirmed to CNBC.
• Prior to the layoffs, Airbnb had 7,500 employees, Chesky said. Airbnb will halt projects related to hotels, a transportation division and luxury stays, Chesky said.
• Last month, Airbnb told its employees that it would institute a hiring freeze, suspend its marketing, cut executives’ salary and that it did not expect to give out bonuses for 2020.

[snoww]

Nutanix is furloughing a total of 1,465 employees in California, representing nearly 25 percent of the company’s worldwide headcount, due to “uncertain business conditions” stemming from the coronavirus pandemic.

Nutanix confirmed to CRN that it is implementing two separate, one-week unpaid furloughs effecting at least 1,465 employees that will occur on a rolling basis effective May 4 through July 26, followed by another round from Aug. 3 through Oct. 31.

[acuman]

https://www.cnn.com/2020/05/04/business/ge-aviation-job-cuts/index.html

[acuman]

GE jet engines 13k cut

[desiboys]

Uber to let go of up to 700 employees in India, sources say

With India’s nationwide lockdown being extended until May 17, ride-hailing giant Uber has reportedly been planning to lay off roughly 500 to 700 of its employees in the country.

 

Uber India is planning to go through with the layoffs within the next two weeks, Entrackr reported, citing two people familiar with the matter.

Uber’s decision has most likely been finalized, and the company is expected to announce the layoffs when the lockdown is lifted, one of the people said. “With this, Uber would be laying off about 25% to 30% of its overall workforce in India.”

The US-based company currently employs over 2,000 people in the country, according to the sources.

[sri_india]

12 minutes ago, desiboys said:

Uber to let go of up to 700 employees in India, sources say

With India’s nationwide lockdown being extended until May 17, ride-hailing giant Uber has reportedly been planning to lay off roughly 500 to 700 of its employees in the country.

 

Uber India is planning to go through with the layoffs within the next two weeks, Entrackr reported, citing two people familiar with the matter.

Uber’s decision has most likely been finalized, and the company is expected to announce the layoffs when the lockdown is lifted, one of the people said. “With this, Uber would be laying off about 25% to 30% of its overall workforce in India.”

The US-based company currently employs over 2,000 people in the country, according to the sources.

already uber eats zomoto ki ammesukundi ... inka uber india lo dukanam ethesinaa no acharyam 

[snoww]

12 minutes ago, desiboys said:

Uber to let go of up to 700 employees in India, sources say

With India’s nationwide lockdown being extended until May 17, ride-hailing giant Uber has reportedly been planning to lay off roughly 500 to 700 of its employees in the country.

 

Uber India is planning to go through with the layoffs within the next two weeks, Entrackr reported, citing two people familiar with the matter.

Uber’s decision has most likely been finalized, and the company is expected to announce the layoffs when the lockdown is lifted, one of the people said. “With this, Uber would be laying off about 25% to 30% of its overall workforce in India.”

The US-based company currently employs over 2,000 people in the country, according to the sources.

Lot of layoffs happening in India too

[snoww]

Uber is laying off 3,700 employees in its customer service and recruiting departments as the number of ride-sharing passengers have plunged during the coronavirus pandemic. The cuts hit about 15% of the company's full-time staff.Uber has also instituted a hiring freeze, the company said in a regulatory filing on Wednesday, and CEO Dara Khosrowshahi will forgo his salary for the rest of the year. Uber expects to spend roughly $20 million on benefits owed to the laid-off emploUber is preparing itself now for the harsh reality that it won't recover all its customers once the pandemic ends, said Wedbush Securities

Uber has also instituted a hiring freeze, the company said in a regulatory filing on Wednesday, and CEO Dara Khosrowshahi will forgo his salary for the rest of the year. Uber expects to spend roughly $20 million on benefits owed to the laid-off employees. 

[snoww]

Juul is laying off a third of its workforce, or about 900 employees, as the vaping company moves its headquarters from San Francisco to Washington.

The job cuts were confirmed in a company memo issued Tuesday and reviewed by The Chronicle.

[RunRaajaRun123]

1 minute ago, snoww said:

Juul is laying off a third of its workforce, or about 900 employees, as the vaping company moves its headquarters from San Francisco to Washington.

The job cuts were confirmed in a company memo issued Tuesday and reviewed by The Chronicle.

Juul gadu inka bankrupt avvaledha

fda vaping issues ki

[snoww]

3 minutes ago, RunRaajaRun123 said:

Juul gadu inka bankrupt avvaledha

fda vaping issues ki

They got nice investments from tobacco companies 

[snoww]

Glassdoor laid off 300 employees today. 

[snoww]

Houston-based Halliburton has laid off 1,000 workers at its headquarters.

Company officials said in a statement released to KPRC 2 on Wednesday the layoffs were due to “the unforeseeable, dramatic” downturn in energy markets caused by the coronavirus.

“The reductions are in addition to layoffs across the Company’s global operations,” the statement read. “These actions are difficult but necessary as we adjust our business to customers’ decreased activity.”