1.
Walmart to cut jobs: targets HR team
This time, as part of the restructuring exercise, the
lay-offs are reportedly going to affect the stores’ large human resources
department.
In
another move to restructure its existing capabilities, Wal-Mart Stores
reportedly plans to cut hundreds of jobs before the end of January.
The
Bentonville, Arkansas-based retailer apparently plans to eliminate jobs at its
headquarters and lay off regional personnel that support stores.
Interestingly,
this time the job cuts are reportedly going to affect Walmart's human resources
department, a large team that some senior executives believe should be more
efficient or whose duties can be handled by outside consultants.
While
other departments will be impacted as well, the decision is expected to affect
the HR team the most. Even earlier, in September 2016, the company said it
would cut about 7000 back-office jobs, mostly in accounting and invoicing
positions at its US stores, as part of a programme it had announced in June.
The
job cuts follow the company's plans to invest $2.7 billion in programmes
involving training of its workforce, and a series of wage hikes that took the
minimum hourly pay for store workers to $10. This is also a part of efforts to
improve service at stores and boost sales.
2.
90 people to lose job
as Disney India decides to stop local production
About 15 per cent of the company's total India workforce, of
approx. 600, will lose their jobs.
After announcing its
decision to pull out of local productions in September 2016, looks like Walt
Disney will now also reduce its staff in India as part of a restructuring
exercise.
Although the specific
details of the job cuts, such as the functions affected and cost-cutting target
have not been shared yet, apparently about 90 jobs will be lost. This implies
that about 15 per cent of the company's total India staff, of about 600, will
be jobless.
While on the one hand
the production studio’s latest release, Dangal, is breaking records at the box
office, the company internally is planning a major restructuring following its
decision to exit the market.
Andy Bird, chairman,
Walt Disney International, reportedly said that the layoffs are a part of the
general course of business and that there is always re-balancing and
re-calibration to reflect local market realities. He also mentioned that the
company is always on the lookout for its evolution in whichever market it does
business.
3.
ZTE cuts 3000 jobs globally.
The Shenzhen-based telecoms gear maker, is reportedly laying
off about five per cent of its 60,000 strong global workforce.
Owing to dropping
market share, Chinese telecom equipment maker, ZTE, is apparently looking to
cut down on its workforce. The company is facing US trade sanctions that could
severely disrupt its supply chain, which is why it is slashing about 3,000
jobs, including a fifth of positions in its struggling handset business in
China.
The Shenzhen-based
telecoms gear maker is reportedly laying off about 5 per cent of its 60,000
global workforce. Its global handset operations will reportedly shed 600 jobs,
or 10 per cent of the total, with the cuts concentrated in China, where it has
been losing market share.
Seemingly, cuts in
the handset business in China will be beyond 20 per cent and are scheduled to
be completed within the first quarter.
The air of
uncertainty hanging over the company weighed heavily on its business last year,
with its worldwide smartphone shipments falling 11.8 per cent compared with
2015.
Chairman of the company,
Zhao Xianming, had mentioned recently in his New Year speech to the staff that
the company, which has annual sales of more than $15 billion, had undergone its
biggest crisis in its 31-year history.
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