News | Latest Breaking News Stories & Headlines

Zoom had bumped up hiring during Covid to meet surging demand, but now joins US companies in reining in costs to brace for a potential recession

Zoom to cut 1,300 jobs as pandemic-fueled demand slows

Zoom Video Communications said it would cut about 1,300 jobs, as demand for the company's video conferencing services slows with the waning of the pandemic, and take a related charge of up to $68m.

Business • 08 Feb 23

Boeing to cut about 2,000 white-collar jobs this year

Boeing to cut 2,000 white-collar jobs in finance and HR

Boeing expects to cut about 2,000 white-collar jobs this year in finance and human resources through a combination of attrition and layoffs, the US planemaker has confirmed.

Business • 07 Feb 23

The new reorganisation comes on top of a plan announced last October to reduce its workforce by 5%, or 4,000 jobs

Philips to cut 6,000 jobs to improve profitability

Dutch health technology company Philips said today it would scrap 6,000 jobs to restore its profitability following a recall of respiratory devices that knocked off 70% of its market value.

Business • 30 Jan 23

SAP is to cut 3,000 jobs, or 2.5% of its global staff

SAP to cut 3,000 jobs in efficiency move

SAP said today it planned to cut 3,000 jobs, or 2.5% of its global workforce, and explore the sale of its remaining stake in Qualtrics, as the Germany software company looks to cut costs and focus on its cloud business.

Business • 26 Jan 23

Ford has committed to an all-electric lineup in Europe by 2030 and its US leadership has repeatedly flagged that EVs require less labour

Ford to make final call on Europe jobs cuts by mid-Feb

Ford intends to decide by mid-February on how many jobs will be cut in Europe, a spokesperson for German labour union IG Metall said today.

Business • 24 Jan 23

Spotify's move comes at a time when tech companies are facing a demand downturn after two years of pandemic-driven growth

Spotify to trim 6% of workforce, content head to leave

Music streaming firm Spotify Technology has said it plans to cut 6% of its workforce, or roughly 600 jobs, adding to a glut of layoffs in the technology sector as companies prepare for a possible recession.

Business • 23 Jan 23

Google is the latest tech firm to announce global job cuts in recent weeks

Tech firms and Wall Street lead job cuts

Big Tech firms and Wall Street titans are leading a string of layoffs as companies look to rein in costs to ride out the economic downturn.

Business • 20 Jan 23

The Google job cuts will affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams.

Google parent to lay off 12,000 workers globally

Google's parent Alphabet is cutting about 12,000 jobs, or 6% of its workforce, it said in a staff memo today, as the technology sector reels from layoffs and companies stake their futures on AI.

Business • 20 Jan 23

Microsoft has about 221,000 full-time employees, including 3,500 in Ireland

Microsoft to cut 10,000 jobs worldwide

Microsoft said today it would cut 10,000 jobs by the end of third quarter of fiscal 2023, which is less than 5% of its global workforce.

Business • 18 Jan 23

Salesforce employs more than 2,500 people in Ireland

Salesforce to cut staff by 10% after hiring 'too many'

US tech firm Salesforce said today it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, becoming the latest company to undertake cost cuts in a challenging economy.

Business • 05 Jan 23

Watflyer was founded three years ago by Aidan Corbett and Jack Pierse

Wayflyer to cut 70 jobs in Ireland, 200 worldwide

Irish ecommerce funding platform Wayflyer has announced plans to reduce its global workforce by 200, including 70 staff here in Ireland.

Business • 16 Nov 22

The Swiss lender racked up an unexpected 4 billion Swiss franc loss in the third quarter of 2022

Credit Suisse seeks billions from investors in overhaul

Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it.

Business • 27 Oct 22

The job cuts represent just over 5% of the company's workforce based on last year's total of 78,000

Philips to cut jobs after medical equipment recall

Dutch medical equipment maker Philips said today it expected to scrap around 4,000 jobs as it tried to streamline its organisation after a massive recall slashed around 70% off its market value in the past year.

Business • 24 Oct 22

Royal Mail remains locked in a bitter dispute with its largest labour union

Royal Mail could cut 5,000-6,000 jobs by next August

Royal Mail could cut as many as 5,000 to 6,000 jobs by the end of August next year and warned of more layoffs if planned strikes go ahead.

Business • 14 Oct 22

Novartis said the changes will take place over the next two years at its Global Service Centre at Elm Park in Dublin

Novartis plans to cut up to 400 jobs at Dublin site

Pharmaceutical company Novartis has announced plans to cut up to 400 jobs from its Dublin operations.

Business • 13 Oct 22

Credit Suisse has dubbed 2022 a 'transition' year for the bank

Credit Suisse looking at cutting 5,000 jobs - source

Credit Suisse is considering cutting around 5,000 jobs, about one position in 10, as part of a cost reduction drive at Switzerland's second-biggest bank, a source with direct knowledge of the matter told Reuters.

Business • 02 Sep 22

Elon Musk said the planned changes at Tesla were 'not super material'

Anticipating US downturn, Musk details Tesla staff cuts

Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world's richest man predicted a US recession was more likely than not.

Business • 21 Jun 22

In an email to staff, Elon Musk said he has 'a super bad feeling about the economy'

Tesla CEO Musk has 'super bad feeling' about economy

Tesla CEO Elon Musk has a "super bad feeling" about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters.

Business • 03 Jun 22

MSD said the job losses at its Brinny plant were part of an evolving site strategy to ensure continued viability for the long-term

MSD Ireland to cut 70 jobs at Cork plant

Pharmaceutical company MSD Ireland has announced 70 job losses at its plant in Brinny in Cork.

Business • 08 Mar 22

Royal Mail said it plans to cut 700 managerial jobs as part of a reorganisation plan

Royal Mail lowers profit view, plans to cut 700 jobs

Britain's Royal Mail will lay off around 700 managers as part of cost-cutting efforts aimed at transforming the centuries-old postal company, it said today, boosting its shares.

Business • 25 Jan 22

The maker of Dove soap and Magnum ice cream employs about 149,000 people around the world

Unilever to cut 1,500 management jobs in overhaul

Unilever has today unveiled plans to cut about 1,500 management jobs in an overhaul aimed at easing shareholders' concerns after a failed takeover bid and news that an activist investor had built a stake in the consumer goods giant.

Business • 25 Jan 22

Germany's Commerzbank is to cut 10,000 jobs globally

Commerzbank strikes deal with workers over job cuts

Commerzbank employee representatives have agreed a job reduction deal, the bank and union officials said today, paving the way for the German lender to cut 10,000 jobs globally.

Business • 07 May 21

Nokia has said it would 'do whatever it takes" to take the lead in 5G

Nokia to cut up to 10,000 jobs over next two years

Finnish telecoms group Nokia said today it planned to cut up to 10,000 jobs within the next two years to trim costs and invest more in research capabilities, as part of its restructuring plan.

Business • 16 Mar 21

Heineken said it recorded a net loss of €204m for 2020

Heineken to cut 8,000 jobs as virus hits sales

Dutch brewing giant Heineken said today it would cut around 8,000 jobs worldwide as the coronavirus pandemic kept much of the hospitality sector closed.

Business • 10 Feb 21

The Dutch state still owns 56% of ABN Amro and has not sold any since September 2017

Dutch bank ABN Amro to cut almost 3,000 jobs by 2024

Dutch bank ABN Amro said today it would cut almost 3,000 jobs in the coming years, as it focuses on profitable activities in the Netherlands and northwest Europe.

Business • 30 Nov 20

Job Cuts