COST CUTTING

  • Yahoo set to outline cost-cutting efforts: Report October 20, 2014

    Bangalore: Yahoo is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan. Yahoo is considering acquiring one or more large technology...
  • HSBC may cut 14,000 more jobs as revenue faces pressure May 15, 2013

    London: HSBC will redouble costcutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. Londonheadquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion...
  • Luxury carmakers chase the young, female and frugal April 23, 2013

    Mumbai: Luxury carmakers in India are moving downmarket and shifting production of smaller and cheaper cars to local plants to cut costs, broadening their target market to include young, female and middleclass drivers to boost lacklustre performance. In an effort to raise stuttering sales that far lag emerging Asian rival China,...
  • Citigroup may exit consumer banking in more countries January 31, 2013

    New York: Citigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter. In December, Citigroup said it was withdrawing from consumer banking in five countries Pakistan, Paraguay, Romania, Turkey...
  • Panel to suggest cost cutting measures for Air India January 4, 2013

    New Delhi: The government on Thursday formed a panel to suggest measures to cut rising operation costs of Air India after the national carrier was found to have suffered an average net loss of Rs 404 crore a month MarchOctober last year. The fivemember committee is chaired by Ravindra H Dholakia,...
  • Analysts upgrade Nokia on costcutting plans June 16, 2012

    New York: Nokia shares partially recovered from a massive selloff from a day earlier, with at least two Wall Street analysts upgrading the telecom after it said it would slash 10,000 jobs and close plants in an effort to turn around its business. The company's upcoming Windows 8 phones will be...
  • HSBC to cut 30,000 jobs worldwide by 2013 August 1, 2011

    London: Global banking major HSBC on Monday said it plans to slash around 30,000 jobs worldwide by the end of 2013, as part of a broader costcutting drive. "Five thousand roles had already gone so far this year and another 25,000 would need to be removed from the 296,000 global workforce,"...
  • Microsoft cuts 800 jobs, completes layoff plan November 5, 2009

    Seattle: Microsoft Corp said on Wednesday that it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January. A spokesman for the world's largest software firm said the latest job cuts are spread across...
  • Air India to cut costs, recoup losses post strike October 1, 2009

    The Executive Director of Air India, Jitendra Bhargava spoke to CNNIBN on the airliner's plans to cut costs and its efforts to stay afloat after losses incurred in the recent strike by pilots. He reiterated that staff costs were the biggest part of the expenses the PSU was trying to...
  • Kingfisher to delay pay, asks employees to brace July 29, 2009

    New Delhi: These are bad times for the airline industry in India. After Air India, Kingfisher Airlines has now warned its employees of a delay in salaries and an uncertain future. An email sent out by Kingfisher Executive VicePresident Hitesh Patel to the company's 6000 plus employees asks employees to...
  • AI plans to hire laidoff Jet staff to save time, cost May 26, 2009

    Mumbai: National air carrier Air India is believed to be toying with the idea of hiring some of the laidoff Jet employees, as it would save time and cost on training. "Air India has plans to hire cabincrew. However, instead of recruiting freshers and then spending...
  • Jet terminates contracts of 50 employees April 30, 2009

    Mumbai: Faced with increasing cost and falling revenue, private airline Jet Airways decided to terminate the contracts of some "identified" employees who have superannuated. "Jet Airways undertakes additional measures to streamline costs to improve the financial health of the company under the challenging global economic environment. The airline has issued notices...
  • Recession hits Jet Airways, senior staff's salary cut April 24, 2009

    Mumbai: In view of the global economic meltdown coupled with mounting financial losses, Naresh Goyalrun domestic private aircarrier, Jet Airways, has slashed salaries by up to 25 per cent for all its employees drawing a gross salary of above Rs 75,000 per month. Huge financial losses...
  • Microsoft sales drop for first time in 23 years April 24, 2009

    San Francisco: Microsoft reported a drop in quarterly revenues on Thursday for the first time in the 23 years since it went public. But investors still gave the world largest software company their approval, sending Microsoft shares higher in aftermarket trading as its aggressive cost cutting measures preserved profitability. The Seattlebased company...
  • TCS profits up 4.6 pc, says will focus on costcutting April 21, 2009

    Beijing: Tata Consultancy Services (TCS), India's largest IT outsourcing firm, said on Tuesday that price competition will force it to focus on cost reductions in coming years. Even though competition is intensifying as customers seek cost reductions, Tata's earnings in fiscal 2010 should be higher than the year earlier, Chief...
  • Living in times of recession: 18 ways to cut costs March 13, 2009

    The basic needs of man are food, clothing, shelter and entertainment. Today, most of us have graduated from needs to luxuries. When the newspaper headlines were screaming inflation at 11.9 per cent, it became a topic of worry. Today, the challenges are not just high standard of living, high commodity...
  • Jet practices cost cutting, hopes of a prosperous 2009 January 6, 2009

    New Delhi: All international expansion plans of Jet Airways is on hold. This is a part of Jet's cost rationalisation programme. The airline industry has had a tough year, Jet CEO Wolfgang Prockschauer says signs are good for the first half of this year. 2008 was a really bad year for aviation...
  • Jet Airways caught in a tailspin over pay cuts November 26, 2008

    Us and them. No, this is not a plug for the Pink Floyd song. This is the great divide that Jet Airways chairman Naresh Goyal is dealing with, as he struggles to keep his airline afloat in these turbulent times. Matters in the company are taking a turn for the...
  • Cost cutting: Jet to lay off 35 expat pilots November 25, 2008

    New Delhi: Even as the pilot body of Jet Airways is planning to send a formal proposal to its management, asking to do away with the expat pilots to prune costs, the airlines has decided to enact on the suggestion and is ready to terminate the contracts of 36 foreign...
  • India Inc upset over FM's costcutting demand November 20, 2008

    New Delhi: India Inc hasn't taken too kindly to the Finance Minister nudging them to lower prices. DLF chairman KP Singh has said only market economics will dictate a price cut. He has, in fact, sought a rollback in taxes. "We are all with the Finance Minister in the Chamber...
  • ICICI cuts costs: 8 to 8 banking days are over November 15, 2008

    New Delhi: Cost cutting can be done in different ways and private bank ICICI is now coming up with innovative ways to do so. The bank will keep its branches open for nine hours instead of its 12 hours schedule. This will be effective from December 1. Branches will be...
  • Vodafone to focus on cost control after revenue cut November 12, 2008

    London: Mobile phone group Vodafone cut its fullyear revenue outlook for the second time in four months on Tuesday but said it would maintain profits and boost free cash flow by cutting 1 billion ($1.6 billion) of costs. Investors and analysts welcomed the focus on cost controls and on improving...
  • Yahoo! to outline costcutting plans on Tuesday: source October 20, 2008

    San Francisco: Yahoo Inc is expected to outline plans to cut expenses, which would include future job cuts, when it reports its quarterly earnings on Tuesday, a source familiar with the situation said on Sunday. The Internet company will discuss the scale and timing of the future layoffs, but specific...
  • Wings on fire, Left shows red flag to aviation bailout October 15, 2008

    New Delhi: The CPIM on Wednesday opposed any bailout package for airlines sector as demanded by industry leaders, saying the present crisis was their own making. "They (airlines) are facing a crisis because of their own making. Nobody else is at fault for this," CPIM politburo member Sitaram Yechury said. "Then you...
  • Too bad for Jet but we're doing our best, says Govt October 15, 2008

    New Delhi: The Government on Wednesday said it cannot help the sacking of 1,900 employees by Jet Airways and termed it a human resource issue of the airline. However, Civil Aviation Minister Praful Patel speaking exclusively with CNNIBN from the Aviation Summit in Hyderabad added the Government had...
  • Jet Airways is cutting costs November 7, 2006

    New Delhi: Jet Airways has launched a cost cutting programme. CEO, Wolfgang ProckSchauer, in an exclusive interview with CNBCTV18, said that this will lead to savings of $70 million in the next financial year, and $22 million in the five months leading up to March 2006. Wolfgang ProckSchauer said,...
  • Cut costs without feeling the pinch September 11, 2006

    New Delhi: The moment we think about cutting costs, we start thinking of our various expenditures we incur and start working out as to which one to cut or reduce. The real operation of cutting of costs should start with two different basics understanding the various future goals, to...