British American Tobacco Plc said on Thursday it would lay off 2,300 employees globally by January as the world's second largest tobacco company by sales looks to streamline its operations.
Union Minister Santosh Gangwar stirred major controversy when he blamed the North Indian youth for failing to secure jobs as he dismissed criticism about the current employment situation in the country.
Steel giant ArcelorMittal pulled out of an agreement to buy struggling Italian firm Ilva because of production concerns, Italy’s prime minister has said, warning the company wants to cut 5,000 jobs at one of its plants.
The number of Americans filing applications for unemployment benefits dropped from a more than two-year high last week, pointing to sustained labour market strength that should continue to underpin consumer spending and the economy.
Emirates Group has recently announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter.
This is with reference to the grim news “Airbus restructuring will mean huge job cuts” (June 29). On 19 June, your daily had carried a report about BMW cutting 6,000 jobs. Companies across the world, including airlines and multinationals, are cutting down jobs due to low sales triggered by COVID-19. Expect millions of jobs to be lost, across all sectors of the global economy in the next few months, as demand slumps.
The action was taken after a note was received by the Sharjah Police via the "Direct Line" radio programme, stating that there was a group of workers residing in a building under construction in one of the emirate's industrial areas in the summer.
Lufthansa announces a 20% cut in leadership positions and the reduction of 1,000 administrative jobs,
Lufthansa's biggest shareholder, German billionaire Heinz Hermann Thiele, criticised the 9 billion euro ($10.1 billion) bailout, saying he had raised his stake in Lufthansa to over 15% and hoped alternative options could be explored.