layoffs

M&C to axe 8% of global team; management salaries cut by up to 30%

MILLENNIUM & Copthorne (M&C) Hotels has reduced its global headcount by 8 per cent and furloughed another 30 per cent of staff in its owned-and-managed hotel portfolio, as the Covid-19...

Many jobs may vanish forever as layoffs mount

[NEW YORK] Even as restrictions on businesses began lifting across the US, another 2.4 million workers filed for jobless benefits last week, the government reported on Thursday, bringing the total...

Extended dining-in ban a nail in coffin for many F&B outlets

SINGAPORE'S embattled food and beverage (F&B) sector may see more closures and layoffs, with dining-in not permitted for a while longer even after the circuit breaker starts to be rolled back...

Layoffs should be last resort, employers should pay retrenchment benefit: MOM

RETRENCHMENT should be a last resort for companies to manage manpower costs, and those that have no choice but to do so should treat their employees with empathy and provide them a retrenchment...

Uber's closure of Asia-Pacific HQ in Singapore to impact 120 staff

ABOUT 120 roles in Uber's Singapore operations will be affected by the ride-hailing firm's decision to move its Asia-Pacific headquarters out of Singapore in the next 12 months. The Asia-Pacific...

honestbee lays off estimated 70-80% of staff amid pivot to pizza joint

DISTRESSED startup honestbee laid off about the bulk of its 60-odd headcount on Monday evening, The Business Times has learned, with several sources estimating that between 70 per cent to 80 per...

The kindest cut?: How to better manage a retrenchment exercise

JUST like how there is no truly happy divorce, there is no such thing as a merry - or even successful - retrenchment exercise.

WeWork to lay off 2,400 workers worldwide

[WASHINGTON] Embattled office sharing firm WeWork will lay off 2,400 employees worldwide - about a fifth of its workforce - as the it struggles to reorganise amid mounting losses, the company...