News: Workforce restructuring by global majors

C-Suite

Workforce restructuring by global majors

Struggling French telecom gear maker Alcatel-Lucent is expected to layoff 9% of its India workforce as part of a global restructuring drive to cut costs. Bulk of the cull is likely to impact Alcatel-Lucent India’s key business support functions and its people-centric managed services vertical. Apart from Alcatel-Lucent, the carmaker PSA Peugeot Citroen happens to be yet another French company, which is struggling and has agreed to talk to unions over the details of a plan to cut 8,000 jobs in France. Ford too has announced plans to close two plants in UK, in Southampton and Dagenham, with the loss of 1,400 jobs. Besides Deutsche Bank AG and Royal Bank of Scotland, both of which have opted to layoffs in order to revamp their business; UBS AG is contemplating more layoffs in the European investment banking division. The layoffs are likely to be in the equities and fixed income section and would account for 10% of the divisions front office staff in the region. 

Struggling French telecom gear maker Alcatel-Lucent is expected to layoff 9% of its India workforce as part of a global restructuring drive to cut costs. Bulk of the cull is likely to impact Alcatel-Lucent India’s key business support functions and its people-centric managed services vertical. Apart from Alcatel-Lucent, the carmaker PSA Peugeot Citroen happens to be yet another French company, which is struggling and has agreed to talk to unions over the details of a plan to cut 8,000 jobs in France. Ford too has announced plans to close two plants in UK, in Southampton and Dagenham, with the loss of 1,400 jobs. Besides Deutsche Bank AG and Royal Bank of Scotland, both of which have opted to layoffs in order to revamp their business; UBS AG is contemplating more layoffs in the European investment banking division. The layoffs are likely to be in the equities and fixed income section and would account for 10% of the divisions front office staff in the region. 

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Topics: C-Suite, #Updates

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