job cuts news and archive

Jeweller Swarovski to cut 400 jobs

At least 400 of a 2,200-strong workforce are set to leave Austrian crystal manufacturer Swarovski at the beginning of 2026, the Tyrol Chamber of Labour (AKT) announced on Thursday. According to the Austrian employee representative body, the number could rise to 500 “if the majority of the remaining workforce does not agree to a reduction in...

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Business

Amazon confirms plans to cut around 14,000 office jobs

The world's largest online retailer, Amazon, is cutting around 14,000 administrative jobs. In a statement, the company attributed the cuts to organisational changes in the age of artificial intelligence. Shipping operations in Germany and other countries are not expected to be affected by the reduction in office jobs. It was initially unclear to...

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Business

Target to cut 1,800 headquarter jobs in restructuring

US retail giant Target has said it will be cutting 1,800 jobs, reflecting 8 percent of the company’s global headquarters team, as part of a restructuring to simplify the business. According to an internal memo seen by ABC News, the cuts will include 1,000 layouts and the closing out of 800 open roles. Those impacted will receive pay and benefits...

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Business

Report: Saks global to cut more than 500 jobs

Saks Global is expected to cut further jobs this week. The reason for this is the merging of business units following acquisition of Neiman Marcus. The operator of Saks and Neiman Marcus is expected to lay off an estimated 550 employees, as reported by trade magazine WWD, based on sources. This number represents 3 percent of the Saks Global...

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Business

Rent the Runway reveals restructuring plan cutting 24 percent of corporate employees

Rental platform Rent the Runway (RTR) has unveiled a significant restructuring plan as part of its Q2 financial report which will see total reductions of approximately 24 percent of corporate employees. Next to further plans to reorganise functions and reallocate resources, the overall strategy hopes to help the company reduce costs, streamline...

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Business

Debenhams gets court approval to close stores and cut jobs

Debenhams has received U.K. High Court approval that will allow the company to shut stores and cut jobs, according to reports. The company will go ahead with its plans for a company voluntary arrangement that will allow the company to close 22 of its least profitable stores and slash rents on more than 100 outlets. The plans will put 1,200 jobs...

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Retail

Employees at Lanvin afraid of potential jobs cuts following sales dip

London - It seems as if French fashion house Lanvin has yet to complete a full turnaround following the appointment of its new creative director Bouchra Jarrar. Staff at Lanvin are said to be waiting in fear for a fresh wave of job cut following news that the brand’s new creative head was unable to boost sales out of the red in 2016, according...

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Business

Yahoo opens door to deal, unveils big job cuts

Yahoo on Tuesday said it is cutting 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future of the faded Internet star. The announcement, coming with the release of a big quarterly loss, offered the first sign that Yahoo may be open to a sale or merger after years of struggling to regain its...