job cuts

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.

Overall, recruiters are in much higher demand in the US.

International

Job market for recruiters shows UK weakness, US strength

[LONDON / NEW YORK] As recruitment firms shed large parts of their workforce across the globe, growing demand for recruiters in the US points to a stronger-than-expected job market.

Some of the cuts reflect Estee Lauder’s push to reduce staff at US department stores.

Companies & Markets

Estee Lauder to cut 3,000 more jobs as CEO pushes overhaul

As many as 10,000 roles will now go, up from its previous target of 7,000 announced a year ago

Latest T-bills Treasury Bills Results & Interest News Latest SSB Singapore Savings Bonds News Latest COE Certificate of Entitlement News

Latest Johor-Singapore SEZ News Latest BTO Build To Order & Sales of Balance News Latest STI Straits Times Index News Latest SGX Dividends, Share Price News Latest Bonds Market News Latest Singapore Stocks To Buy News Latest Singapore Economy News