According to The Economic Times, Hindustan Coca-Cola Beverages (HCCB), the Indian bottling company of Coca-Cola, has begun cutting staff as part of a larger initiative to increase profits and streamline operations. Across departments, about 300 positions are being eliminated. The action was taken months after the company reorganised its operations
According to various media reports, US retailer Target Corporation is letting off roughly 150 workers from its global capabilities centre (GCC) in India. The action is a component of the company's broader worldwide restructuring, which also includes the largest personnel decrease in ten years: 1,800 corporate job
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> This article has been contributed by Sridhar Laxman, Executive Coach, Lucid Minds Coaching. Layoffs, terminations, downsizing, and reorganization is a challenging and complex processes. Companies hire employees when the business demand is high, cash flows are healthy, and the external environment is favorable for a quick and sustained expansion.
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A layoff is an involuntary separation from work through no fault of the employees. It is initiated by the employer for economic or business reasons. The global break-out of the Covid-19 pandemic spelt a disaster for the economy as 2020 saw severe lockdown restrictions for more than half the year.