Cost-cutting/Restructuring

Volvo Cars to cut 2,500 jobs as third quarter swings to loss

Volvo Cars will cut 2,500 jobs, mostly in Sweden, amid tough competition from Chinese automakers and weaker sales in the US.

Air India forms team to drive cost savings, memo shows, as it deals with host of problems

Air India faces a host of issues including mounting losses, safety and compliance lapses, as well as Middle East flight disruptions.

HSBC plans deep job cuts in UK wealth management business

HSBC chief executive Georges Elhedery has been pushing a broader cost-cutting and simplification drive.

Uber to lay off 10% of its workers in biggest cuts since Covid-19

Uber is flattening management layers to simplify organisational complexity, its CEO says.

News analysis

Ohmyhome restructuring: ‘Business as usual’, but owners owe shareholders an explanation

Ohmyhome’s founders have yet to provide a clear explanation to shareholders on why the property business is now being run as a private entity.

Meta head of product for ‘AI for work’ transformation leaving company

Staffers have criticized Meta's AI-centered restructuring, which has included laying off 10% of workforce.

Meta cuts 8,000 jobs, including more than 100 in Singapore, according to former employees

The latest round of cuts is expected to hit Meta’s engineering and product teams in particular and additional layoffs could come later in 2026, said people familiar with the company’s plans.

Meta moves 7,000 workers into AI roles ahead of job cuts

Meta Chief People Officer Janelle Gale told employees the company plans to move 7,000 employees to new initiatives related to AI workflows and to eliminate managerial roles.

IKEA franchiser slashes 850 jobs in cost-cutting drive as consumer spending falls

HSBC reviews $48,000-per-child school fee perk for HK bankers to cut costs: Sources

Hundreds of staff have access to the perk, which costs tens of millions of dollars annually.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.