-General Electric warned on Tuesday afternoon of more job cuts at its aviation unit, citing a lengthy recovery for the airline industry from the impact of the COVID-19 pandemic and the lockdown measures to contain its spread.
German giant Thyssenkrupp announced on Thursday morning it will cut another 5,000 jobs to stem losses across its conglomerate, after posting a $1.9 billion operating loss in its latest financial year.
Exxon Mobil Corp announced on Thursday that it would reduce its global workforce by 15%, including 1,900 U.S. jobs, by the end of 2022, as North Amerca’s oil juggernaut attempts to preserve dividends amid severe impacts of the pandemic to the oil industry.
US oil juggernaut Chevron announced on Tuesday afternoon will lay off about 25 percent of Noble Energy’s employees who joined the company after its $1.1 billion purchase of the smaller rival a couple of weeks ago.
Cathay Pacific Airways is planning to cut around 6,000 jobs and plans to wind down its Cathay Dragon sister airline brand, as the flag carrier airline of Hong Kong executes sharp staff reduction as an attempt to deal with the severe impacts of the coronavirus crisis.