Tag: cut
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Panama Canal to cut number of ships passing through due to El Niño
The crucial waterway’s operator says low rainfall caused by the ocean pattern had led to the decision.
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Chime to cut 10% of total workforce on AI driven efficiencies
July 31 : Fintech Chime is cutting 10 per cent of its workforce, a spokesperson said on Friday, joining a growing list of companies using AI-driven efficiencies to streamline operations.The AI boom has increasingly reshaped corporate America’s workforce and hiring strategies as companies look to turn hefty te
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BMW to Volkswagen: How deep is Germany’s auto industry cull?
BMW joins VW, Porsche and Mercedes-Benz in cutting thousands of jobs, as Chinese rivals erode their market share. DW recaps the major reforms German automakers are pursuing to safeguard their future.
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Japan PM vows to proceed with temporary cut in sales tax
TOKYO, July 30 : Japanese Prime Minister Sanae Takaichi announced her intention to proceed with a sharp two-year cut on an 8 per cent sales tax on food items, a senior ruling party official said on Thursday, a move set to strain the country’s worsening finances.In a meeting with ruling party executives, Takai
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Germany news: BMW to cut up to 8,000 jobs
The German auto giant BMW has become the latest German car company to announce major job cuts, projecting to shed 8,000 by the end of 2027. Meanwhile, new ministers are set to join the German government. DW has more.
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Allianz to cut up to 1,800 jobs due to increasing AI use
July 8 : Allianz’s travel insurance division will cut up to 1,800 jobs due to the growing use of AI, said Tomas Kunzmann, CEO of Allianz Partners, on Tuesday evening, confirming an earlier Reuters report.
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Onsemi to sell two chipmaking plants to cut costs
July 7 : Chipmaker Onsemi on Tuesday said it will sell two manufacturing facilities as part of broader push to cut costs and boost profit margins.Shares of the company were down more than 3 per cent in premarket trading. They have gained nearly 75 per cent this year.Here are some details:• Ons
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Microsoft to cut thousands of jobs, Xbox to be hit hard
The move will affect the company’s gaming division, which has been facing the outcome of a “not healthy” business model. The jobs cut will not be replaced by AI, Microsoft’s VP said.
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EV maker Lucid to cut about 18% of US workforce, COO Winterhoff exits
June 22 : EV maker Lucid Group said on Monday it would cut about 18 per cent of its U.S. workforce and announced COO Marc Winterhoff had left the company, in a major shake-up aimed at boosting profitability amid growing competition.The layoffs will affect Lucid’s full-time employees, contractors and hourly pr
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Madrid tests package delivery by subway to cut congestion
Online shopping is booming and cities are overwhelmed by a flood of packages. The Spanish capital is testing a new approach to urban logistics and sustainable delivery by shifting parcel transport underground.
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