Author: HR Talk

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…

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…

General Motors (GM) is revamping its performance evaluation system for salaried employees in the US. The objective is to reward high performers and encourage low performers to either improve or leave. Under the new strategy, the top 5% of employees will receive 150% bonuses, an increase from the previous system. This change will also aid the company in attracting and retaining the talent necessary to achieve its ambitious goals as it shifts towards electric vehicles. The updated performance-ranking system, outlined in an internal memo, introduces a five-scale evaluation range. The rankings range from ‘significantly exceeds expectations’ to ‘does not meet…

TVS Mobility, the holding company managed by the T S Rajam family, has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation (MC) to launch the TVS Mobility Mitsubishi Employee Exchange Programme (TMMEEP). This initiative aims to enhance skills, promote mutual growth, and train the next generation of leaders. Under the agreement, employees from TVS Mobility will be hosted by MC Japan and its partners for skill development and training, with a primary focus on the automotive and mobility sectors, including inspection in auctions and service mechanics. Conversely, TVS Mobility India will host employees from MC, providing them with insights…

Nike is facing a tough year, and recent government filings reveal that the company has seen more job cuts than expected. Reports submitted to the SEC on July 25th showed that Nike’s workforce has reduced by 4,300 employees compared to the previous year, exceeding the approximately 1,600 layoffs announced in February 2023. Initially, Nike had planned to cut two percent of its staff, but the filings show that its workforce is now five percent smaller than it was last year. This significant reduction has had a notable impact on Nike’s operations and stock performance. The recent job cuts have particularly…

Daimler Truck has announced measures to address reduced demand in its European and Asian markets. The truck and bus maker will implement reduced working hours and a job freeze for employees in its truck-making business in Germany. Short-term work will start in September, with further cost-cutting measures under discussion. This reduction in working hours will specifically affect employees at truck manufacturing facilities in Germany, while the bus division remains unaffected. Although job cuts are not currently planned, there will be no new hiring. The company’s first-half total orders, an indicator of future sales, dropped by 10 percent compared to the…

Schindler, a Swiss elevator manufacturer, intends to increase its workforce in India from 6,000 to 10,000 employees, aligning itself with the size of its workforce in China. To support this expansion, the company may establish more training centers in addition to the three it currently operates in India. Schindler’s move is driven by India’s rapid urbanization and growing middle class, which create favorable conditions for elevator manufacturers. This demonstrates the company’s confidence in the sustained market growth in India. Additionally, Schindler’s focus on India reflects a broader trend of companies redirecting their attention to stable and promising regions due to…

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