job cuts

Volkswagen CEO Oliver Blume says the company must work on reducing costs further, having calculated a cost disadvantage versus comparable companies of 20 per cent.

Volkswagen CEO threatens 50,000 more job cuts in memo to staff

[BERLIN] Volkswagen could cut around 50,000 additional jobs based on calculations aimed at bringing the carmaker into line with the cost competitiveness of other companies, CEO Oliver Blume told staff...

The firm cut over 400 jobs from its UK audit division in March, blaming lack of natural attrition.

International

KPMG UK to slash 200 back office roles in latest round of cuts

The cuts affect 10% of staff across support teams and is said to be part of the ongoing integration between its UK and Switzerland arms

Workers displaced by AI could create new businesses, pursue artistic interests, set up social enterprises or launch community initiatives.

Opinion & Features

SENSE & CENTS

Scenario of AI-driven jobless economic growth need not scare investors and society

Singapore can win in the age of artificial intelligence, and this will benefit local equities

BBC's downsizing plans are expected to result in a total of about 2,000 jobs lost to save hundreds of millions of pounds.

International

BBC to cut hundreds of jobs in Britain in news division downsize: report

Departments across the corporation have been ordered to cut about a tenth of their costs

Once in the hundreds, postings for the City of London’s corporate lawyers, software developers, management consultants and digital marketing managers have all slumped into the double-digits.

International

AI turns coders, lawyers and analysts into ghosts of London’s past

Businesses have invested a lot in the technology, but the radical gains many hoped for have yet to materialise

Uber has about 10 million drivers, most of whom are classified as independent contractors.

Companies & Markets

Uber cuts 23% of people division as new president takes charge

The layoffs represent less than 1% of the ride-share company’s global workforce

Australia has seen a wave of layoffs this year, particularly in the tech sector, where companies have blamed AI adoption, restructuring and cost pressures.

International

Australia jobless rate jumps to 4½ year high as RBA bets fade

Traders are now wagering about an even chance of a rate hike in August

Production at Gardenia’s Pandan Loop manufacturing facility will cease on Jun 30.

Companies & Markets

QAF-owned Gardenia axes 141 staff in Singapore, shifts production to Johor Bahru

The city-state will still be the bread maker’s central hub, with about 250 employees

The 850 affected roles include 300 job cuts in Sweden, home to one of Inter Ikea’s main hubs in Almhult, where Ikea was founded in 1943.

Companies & Markets

Ikea franchiser slashes 850 jobs in cost-cutting drive as consumer spending falls

It has been squeezed by rising costs and US tariffs

Career

Retrenched at 22: What it’s like to be laid off in your first job

[SINGAPORE] In 2023, 22-year-old H Wong was relocated to her company’s New York office, excited to grow her career in a new city.

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