Reportedly, the dire situation faced by construction workers stems from a disagreement between the Federation of Construction Industry (FOCI) and the Minister of Works
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The job cuts come in the wake of a significant financial downturn, with the company reporting a €4.6 billion ($4.9 billion) loss in 2023
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CEO Salil Parekh outlined Infosys' strategy for integrating various technologies, believing that technological advancements will create new opportunities rather than eliminate existing jobs
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This move is part of the company's efforts to streamline operations and achieve financial sustainability
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To address mounting losses, Paytm aims to save Rs 400-500 crore through an employee cost reduction plan, potentially affecting 5,000-6,300 employees
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Allie Arebalo, the senior director & head HR of North America, who reported directly to CEO Elon Musk, was let go, as per media reports
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This move aims to streamline operations, reduce costs (around US$230 million in savings), and better handle inflation
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The plan involves cutting domestic jobs and relocating office functions from central Tokyo to Kawasaki
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The move has been taken due to a drought in Catalonia's Penedes area
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