By the end of 2016, companies have put their hopes on 2017 to improve economic conditions. By the end of the first quarter, and continued difficulties in the second quarter of the year, companies began looking for other non-wait solutions until the economic role changed and a new round of layoffs began.
Globally, even the largest companies have been forced to abandon a number of their employees. The latest announcement from Microsoft, which confirmed the release of 10 percent of the company’s sales staff around the world. It is estimated that this figure is between 3,000 and 5,000 people.
In May, Cisco laid off 1,100 employees with a sharp drop in profits. The technology and telecoms firm said it planned to end 5,500 jobs by August, or 7 percent of its employees. The company forecast a 4% to 6% drop in profits at the end of the quarter.
Last month, Bank of America, part of the second largest bank in the United States, laid off an undisclosed number of employees from the technology department to reduce costs and boost profitability.
Boeing also plans to complete the work of hundreds of engineers working for the company in the engineering department of commercial aircraft in June. The company had already shed 245 workers in May. The memo did not rule out further layoffs based on working conditions until the end of the year.
The global demobilization chain continues with the planning of a number of major companies to give up more employees. General Motors has notified its workers that it will end a full term and finish about 1,000 employees as demand for passenger cars in the sector declines.
Yahoo’s acquisition of Yahoo will cost 2,100 employees, with the company planning to give up 15 percent of Yahoo and AOL employees after the deal is completed.
The French tire industry is also planning to terminate 1950 jobs by the year 2021, while reorganizing regional divisions and trying to avoid ending their business. The company said it would replace 3,500 workers out of 5000 who are expected to leave or retire by 2021. Overall, the proportion of jobs that have been reduced will be 1.8 percent of the company’s total workforce.
In addition, Bombardier of Canada will reduce the number of jobs in Germany by about 2,200 by 2020, as part of a comprehensive plan to cut costs. Last October, the company announced that it would lay off 7,500 employees from around the world, mostly from the railway industry.
The media receives a painful blow
The media sector was one of the major sectors that suffered from the decline in economic conditions and the decline in advertising. Globally, the New York Times said it would buy shares from editors, reducing the number of editors and relying more on reporters to cover topics. The company said in a statement that if the employees did not accept the offer to buy shares, they would have to resort to layoffs.
The Times also had to cut 300 jobs, or 4 percent of its employees, as it sought to cut costs and invest in growthable areas.
Disney’s ESPN TV also laid off 10 percent of the 1,000 employees on the air. In addition to the announcers in the sports programs, the company said that a limited number of other positions will be affected by these layoffs.
Local institutions to lay off their employees
In the media sector in the region, Al Arabiya and MBC were among the most prominent media organizations that were forced to reduce an unspecified number of staff from different departments, according to informed sources.
Emirates and the UAE are also affected by the economic conditions and Trump’s recent decisions. According to a Bloomberg news release today, Emirates will lay off dozens of employees, including aircraft crews, public administration, information technology and even senior management. .
The report also confirmed that the company has also completed a number of functions within a comprehensive restructuring process in the company to reduce costs and improve productivity.
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