Tag
14 stories in this topic
The mass layoffs that began last year amid a market decline continue in the struggling property sector, with major developers and brokerages downsizing their sales teams to survive. Property developer Dat Xanh Group laid off 1,384 people in the first quarter…
India is considering slashing import duties on electric cars to as low as 40%, two senior government officials told Reuters, days after Tesla Inc’s appeals for a cut polarised the country’s auto industry. For imported electric vehicles (EVs) with a value of…
US carmaker Ford said Thursday that it plans to slash a total of 12,000 jobs across Europe as part of a previously-announced restructuring, as it closes or sells six plants in Britain, France, Russia and Slovakia in 2019 and 2020. “Ford’s manufacturing…
Amazon Australia is holding its second mid-year sale, slashing prices on tens of thousands of products from Friday, May 31, through the month of June. The deals include up to 50 percent off select clothing, shoes and accessories from brands such as Calvin…
Incoming Daimler boss Ola Kaellenius is working on a cost cut program to reach profit margin targets which are threatened by global trade woes and ramp up issues at factories, Handelsblatt reported, citing company sources. Kaellenius, who will take over from…
While Apple continues to dominate the paramount US smartphone market in terms of both sales numbers and profits, the company’s trouble across two other key regions seems to be intensifying rather than ameliorating. Of course, the Cupertino-based tech giant is…
Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced Thursday. Nike said it would cut about two percent of its global workforce as…
Indonesia’s central bank kept its benchmark interest rate unchanged after six cuts this year, seeking to calm financial markets in the wake of the United States presidential election results. Governor Agus Martowardojo and his board held the seven-day reverse…
The problems at Germany’s largest lender, Deutsche Bank, which has seen its share price tumble to record lows on concerns of a looming US$14 billion (S$19 billion) fine by US authorities, could raise questions over the fate of some of its 2,100-strong…
Toyota Motor Corp’s Thai unit has launched a voluntary redundancy program aimed at cutting around 800 subcontractors in Thailand due to economic problems in the southeast Asian country and abroad. Thailand’s economic slowdown, along with uncertainty over the…
Nokia could cut as many as 15,000 jobs worldwide as part of the cost-cutting program associated with its merger with Alcatel-Lucent, union officials estimate. A Nokia union steward as stating that based on the information received so far, the union estimates…
Nokia has commenced a program to cut thousands of jobs worldwide as part of the cost-cutting and transformation program associated with the takeover of Alcatel-Lucent. The company plans to cut 1,300 jobs in Finland, 1,400 in Germany and 400 in France as part…
CIMB Group will not undertake any more job cuts in Malaysia and Indonesia in 2016 after last year’s mutual separation scheme exercise. CIMB Group chief executive Tengku Zafrul Aziz said the bank was now focused on improving productivity and meeting its…
Online retailer Alibaba believes it has found a way to cut the retail prices of wine in China. Using its business to business website 1688.com Alibaba has commenced selling wine direct to retailers, short-circuiting a raft of middlemen currently adding…
Weekly Briefing
Tuesday, Thursday and a Saturday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.
Read by retail operators, investors and brand teams across Asia.