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AirAsia Philippines said ticket sales were increasing as it gradually ramped up operations and offered flexible rebooking options amid the new coronavirus pandemic. The budget carrier, part of Malaysia’s AirAsia Group, said June ticket sales rose by 30…
HSBC’s cost-saving drive is reportedly set to accelerate even in its most profitable markets in Asia following the departure of its global head of equities. Hossein Zaimi is leaving HSBC, according to a report citing two unnamed sources, after joining the…
Labour representatives at German carmaker Daimler said on Monday that discussions with management over cost cuts had become “rougher”, after a board member said over the weekend that more than 15,000 jobs were at risk. The auto industry has been hit hard by…
A Singapore-based banker was surprised to be asked highly personal questions when he applied for a job at the U.K. lender. Standard Chartered’s reasoning is unconventional. The London-based bank’s procedure for job applicants is pretty standard: an employment…
HSBC will offload around 100 employees in its equities business including research, sales, trading and back-office functions.vMost of the cuts will be made in the bank’s continental European trading floors, according to a report citing anonymous sources. A…
Thousands of stores will close and 5600 jobs will be lost as Hong Kong retailers try to recover from a “severe” sales decline brought on by social unrest and declining mainland visitor numbers, according to a survey by the Hong Kong Retail Management…
Japanese 7-Eleven parent Seven & I Holdings is preparing to cut 3000 jobs in its 2022 fiscal year. The move will be the firm’s largest payroll cut since it opened and reflects increasing competition from e-commerce and shopping malls, as well as chronic…
General Motors has cut about 350 jobs from its Thai subsidiary’s operations, a labor representative said on Friday, slashing more than 15% of the workforce for the U.S. automaker that has two factories in Thailand. Thailand is a major manufacturing hub in the…
HSBC reiterates continuity in its business strategy, despite the recent CEO exit, underlining a potential axing of more than 4,700 jobs as part of its ongoing cost-cutting measures. HSBC’s finance director Ewen Stevenson noted that up to 2 percent of jobs…
Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Net income slumped by more than…
Japanese auto giant Nissan announced earlier this week that it will downsize its workforce globally by firing 12,500 employees. This includes the manufacturer’s India operations as well. A report by ETAuto now states that over 1700 employees from the Indian…
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…
Honda has confirmed its western England car factory, which employs 3,500 people, will close in 2021. The Japanese carmaker announced Monday that the Swindon plant will shut in two years, “at the end of the current model’s production life cycle.” Honda makes…
Swedish carmaker Volvo, which is owned by China’s Geely, is cutting several hundred jobs, Swedish radio reported on Friday citing sources.The carmaker, whose number of employees has more than doubled over the past decade to about 43,000, confirmed it was…
The Spanish arm of Japanese carmaker Nissan has reached an agreement with unions to cut 600 jobs at its plant in Barcelona, or almost 20 percent of the plant’s workforce. The layoffs, a mixture of voluntary redundancies and early retirements over the next…
Contractors should look to neighbouring Singapore and Sarawak for jobs, as a slowdown in award of contracts is expected in 2019, according to Hong Leong Investment Bank (HLIB). The research house said in a note that contract flows are expected to slowdown on…
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