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Attrition

Deutsche Bahn announces massive job cuts, letting away 30,000 by 2029.

Deutsche Bahn (DB) has announced a significant restructuring plan that includes cutting approximately 30,000 full-time jobs over the next five years. This decision comes after the company reported a €1.2 billion loss in the first half of the year, citing recent strikes, major construction projects, and extreme weather conditions as the primary causes. In addition to the job cuts, the company also plans to close unprofitable divisions, particularly in rural and economically weaker regions. Specific railway lines are reportedly targeted for closure as well. The German government, which owns Deutsche Bahn, is pushing for the company to become more economical…

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Benefits

Microsoft announced a unique bonus for employees

Microsoft announced a special one-time cash award for employees, adding an extra 10-25 percent to their annual bonuses for the recently completed fiscal year. This gesture is aimed at recognizing the significant contributions and achievements of its workforce. In a companywide memo from Kathleen Hogan, chief people officer at Microsoft, employees were informed that executives would not be eligible for this bonus. The company is prioritizing higher percentages for employees at lower levels to ensure a fair distribution. The special one-time cash award will be available to all employees in levels 67 and below, including hourly and equivalent positions. The…

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Attrition

Intel will lay off 15,000 people as the chipmaker attempts to rebuild its business.

Intel is making significant efforts to reduce costs, including a plan to reduce its workforce by at least 15 percent. This could mean laying off over 15,000 employees, resulting in an estimated cost savings of around $10 billion by 2025. The company, which currently has a workforce of at least 125,000, estimates that the headcount reduction could impact up to 19,000 employees. In addition to the layoffs, Intel is also planning to cut spending in research and development, as well as marketing, by billions annually for the next two years. The company will reduce capital expenses by 20 percent this…

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Attrition

Disney Entertainment Television to let go 2% of the workforce

Walt Disney is laying off employees in its television unit. This will result in a reduction of two percent of the workforce at Disney Entertainment Television, which is about 140 employees. National Geographic will also see a reduction in its team by 13 percent. The layoffs are a cost-cutting measure and will impact ABC-owned television stations, Freeform (the cable channel), Disney’s linear networks, unscripted, marketing, and publicity. National Geographic will experience the highest number of job cuts, with about 60 roles being eliminated. The cable network industry is facing declining viewership, and the streaming business has become increasingly competitive. Disney’s…

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