Tuesday 24 May 2016
 
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Layoffs

Abu Dhabi lays off staff as Gulf austerity tightens

Thousands of layoffs at state-linked companies in Abu Dhabi, UAE are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, th

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US job openings hit eight-month high

US job openings increased in March to the highest level in eight months and layoffs continued to decline, indicating the labour market remains fairly robust despite April's slowdown in employment gains. The firmer labour marke

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Workers burn Saudi Binladin buses over reported layoffs

Protests over unpaid salaries and reported retrenchment of more than 50,000 foreign workers at  leading construction group Saudi Binladin took an ugly turn on Saturday when the disgruntled workers burnt company buses in Makkah, said a repor

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Boeing plans layoffs for airplane engineers

Boeing Co said on Friday that it is considering layoffs of airplane engineers, a plan that it said may cause it to reorganize or consolidate its engineering teams, according to an internal memo seen by Reuters. Boeing said in a me

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100,000 industry layoffs over oil price slump

Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of aroun

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100,000 industry layoffs over oil price slump

Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of aroun

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Blackberry could lay off up to 40pc of staff

BlackBerry is preparing to make deep cuts to its workforce by the end of the year that could lead to slashing the company's headcount by up to 40 per cent, the Wall Street Journal said on Wednesday, citing people familiar with the matter.

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Yahoo to cut 2,000 staff, more may come

Yahoo is about to lay off as many as 2,000 staffers - about 15 per cent of its work force - as part of a major restructuring, according to AllThingsD's Kara Swisher. Swisher has been beating the drum on these Yahoo layoffs for some ti

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Citi begins London investment bank layoffs

Citigroup began a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide. There are likely to be "several hundred" j

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Bahrain hotels forced to lay off staff

Bahrain’s hotels were forced to lay off or transfer to other GCC countries more than 1,200 foreign employees in the last three months, it was revealed. Four- and five-star hotels had to either lay off or transfer 900 staff as a result of t

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