Credit Suisse China securities JV says staff down 46% in 2023
Credit Suisse Securities (China) Ltd said in an annual report dated Tuesday that employee numbers were 126 at the end of December, down from 234 a year earlier.
Credit Suisse Securities (China) Ltd said in an annual report dated Tuesday that employee numbers were 126 at the end of December, down from 234 a year earlier.
As of December last year, the company had nearly 800 full-time employees in the U.S., Germany, Sweden, India and China.
In its first-quarter results (January to March), the company mentioned that headcount was 344,400 at the end of Q1. Cognizant follows the calendar year.
The British lender, which is already engaged in a group-wide cost-cutting programme aimed at reducing costs by around 2 billion pounds ($2.50 billion), began informing employees of the intended cuts on Wednesday, one of the sources said.
The company has been seeking to cut costs and pivot away from its contract manufacturing business due to sluggish demand and drive sales growth for its opioid overdose reversal drug Narcan and other branded drugs.
Elon Musk's EV company, which moved earlier this month to cut more than 10 percent of its 140,000 employes, will disband two departments and lay off most of the employees from the groups, reported the Information late Monday.
The job cuts will impact roles in the company's casinos in Melbourne and Perth and some corporate positions across Crown Sydney.
"In the next 3-4 months, our India business will turn EBITDA profitable and this restructuring was an unfortunate but important step in line with achieving this. We also have to make sure we have enough resource allocation for the global expansion," Healthify co-founder and CEO Tushar Vashist was quoted as saying.
Some teams are absolute power, others are massive failures, while some are just workable as there are no other options. When the teams are constituted, there is good brainstorming done on strengths and weaknesses of team members so that it can be ensured that the team formed is effective and may work efficiently. But forming the team is just not simply bringing people together rather, it is a thoughtful collaboration of high performing individuals motivated to achieve a common goal.
Whirlpool aims to trim up to $400 million in costs this year, the Wall Street Journal, which reported the news earlier in the day, quoted the company's chief financial officer, Jim Peters, as saying.
SunPower said it will wind down its SunPower Residential Installation locations and close SunPower Direct sales, adding that installations would be handled by its Blue Raven Solar and independent dealers. SunPower had acquired Blue Raven for $165 million in 2021.