Disney CEO Josh D’Amaro announced this Tuesday, April 14, the layoff of at least 1,000 employees as part of the company’s ongoing restructuring process.

According to the executive, the areas most affected this time are marketing and branding, globally, as part of the adaptation to the changing entertainment industry.

The adjustment represents approximately 1 % of Disney’s total workforce, which currently has 231,000 employees.

 

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With information from international media

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Amazon will make another massive cut to its workforce, estimated at 16,000 jobs, arguing that it needs to reduce bureaucracy, eliminate layers to strengthen the organization, and concentrate on artificial intelligence.

This reduction in positions at the company is the second since October 2015, when Amazon announced the first layoffs.

However, Beth Galetti, Amazon’s senior vice president of people experience and technology, indicated that “while these adjustments are being implemented, we will continue to hire and invest in strategic areas and functions crucial to our future. We are still in the early stages of developing each of our businesses and have great potential ahead.”

Amazon will focus on AI as one of the main features of the increasingly changing business world.

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Source: bolsamania

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The implementation of artificial intelligence in the European banking sector suggests that some 200,000 jobs could be eliminated by 2030 as a result of the automation of certain areas involving repetitive processes.

These predictions stem from an analysis by the Financial Times, “based on estimates from Morgan Stanley,” as “a logical consequence of an industry under increasing pressure to reduce costs and improve profitability.”

According to Morgan Stanley’s forecasts, European banks could reduce their payrolls by 10% over the next five years, representing “approximately 212,000 jobs out of a total of 2.12 million employees.”

The firm bases its predictions on the advance toward digitalization and the subsequent closure of physical branches, as well as the rapid adoption of AI as a tool for gaining efficiency.

The areas where payrolls would be reduced include “the banks’ core services: back office, middle office, risk management, and regulatory compliance,” which involve repetitive processes, “precisely where automation offers the greatest return.”

Morgan Stanley experts point out that this would result in lower structural costs and improved efficiency ratios.

A change in how European banks operate is inevitable due to the incorporation of AI, which will help improve margins and efficiency, “exactly what European banks need to convince investors.”

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Source: bolsamania

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Nokia Oyj in China cut 2,000 jobs as part of a restructuring and cost-cutting plan that began in 2023, when payroll at the end of that year was about 10,400.

Like its Nordic rival Ericsson AB, Nokia has been announcing cost-cutting due to weak sales, “while telecom operators delay or reduce expensive infrastructure upgrades.”

The market is highly competitive at the moment, and in China, which represents the world’s largest 5G stage, European companies are losing out to giants such as Huawei Technologies Co and ZTE Corp. “Nokia currently accounts for less than 5 percent of the total market share for equipment in China,” according to a spokesman.

The deterioration in trade relations between the United States and China has caused deep damage to the business sector. “Chinese operators reject European equipment in the same way that the United States and some European nations have rejected Chinese technology.”

Nokia has also cut 350 jobs in Europe, in addition to reducing its presence in China through the sale of its stake in a joint venture with Huawei.

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Source: diario.mx

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Ford is executing a financial restructuring plan that involves cutting 3,000 jobs in the United States, India and Canada. It is one of the most rigorous economic measures with which they seek to adapt to the current global scenario.

The news was announced to the workers by the company’s president, Bill Ford, as well as the CEO, Jim Farley. This measure is part of the plan known as Ford +.

According to the content of the statement sent to employees in the three countries, the internal restructuring implies the need to “modify the use of Ford’s resources as well as its ‘cost structure’, which is not competitive with traditional rivals and new”.

From Ford they argue that with the elimination of jobs in the coming weeks they seek to simplify functions and face the increase in inflation.

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Source: bancaynegocios

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