Layoffs, Downsizing, Furloughs – Weekly Highlights

Intellizence tracks the latest layoff, downsizing, employee termination, furlough announcements from multiple news and regulatory filings. Following is the highlight of a few major layoffs of the week ending July 25th, 2020. 

Some of the major layoffs announced during the week are:

M&S  – The retail company is to cut 950 jobs as it steps up the pace of its transition towards becoming a digital-first business, following a Covid-19 lockdown in which customers have  moved to shop online

Honeywell – The company has laid off at least 9,929 people worldwide in its “repositioning” in the wake of the recession from the Covid-19 pandemic

Schlumberger Ltd – The world’s largest oil-field services company, is cutting about 21,000 jobs as oil producers slash spending in response to a historic drop in prices amid the coronavirus pandemic

Dyson – British technology company Dyson is cutting 900 jobs globally due to the impact of the Covid-19 pandemic on consumer demand

The Dow Chemical – The company will layoff about 5,000 full-time jobs, close 20 facilities and divest non-strategic businesses in an aggressive move to cope with dire economic times

MAN Energy Solutions – The energy company plans to cut €450 million in costs, including nearly 4000 jobs, as it works out extensive cost-cutting and restructuring measures

LinkedIn –  The Microsoft owned company, LinkedIn will lay off around six percent of its workforce, in part due to a coronavirus-related worldwide hiring slowdown, cutting about 960 jobs from its global sales and talent acquisition teams