The move comes as competition intensifies between Dubai, Abu Dhabi and Riyadh for regional financial dominance
The company plans to reduce headcount by about 8,000 people by the end of fiscal 2024
Chief executive officer Philip Jansen has been quietly shrinking the workforce over the last five years as he works to grow profit
Margherita Della Valle said she would reallocate resources to focus on quality service that customers expect and grow the Vodafone Business unit
The company is axing 27,000 mostly corporate positions after a hiring spree during the pandemic left the company with too many people
Disney’s latest job reductions are part of chief executive officer Bob Iger’s ambition to save $5.5bn in annual costs
The move is part of a cost-cutting push that will eventually whittle away 10,000 positions at the company
The iPhone maker is cutting jobs in its development and preservation teams, groups that are responsible for the construction and upkeep of its retail stores
The company’s job cuts make up about 2.5 per cent of its workforce
The first wave of cuts were explained to Meta executives Thursday morning
The company confirmed its staff reduction, saying it eliminated some engineering roles and rebalanced its headcount
Some employees learned they were laid off via an email, and others tweeted that they learned they were terminated when they could no longer log into the internal system
The company’s spokesperson Laura Davis stated that the cuts were part of regular business planning
The Pakistani company, which Alibaba acquired in 2018, has quintupled active shoppers to more than 15 million over the past five years
The reductions amount to about 5 per cent of the company’s global workforce
The cuts amount to less than 2 per cent of the company’s global workforce
The exchange has suspended support for transactions in the UAE’s currency, but clients in the region will still be able to use other products and services
The spokesperson said the cuts are part of a wider reorganisation
The company had about 4,000 employees as of the end of the third quarter
The company’s current headcount is 260,000
The music streaming giant has about 9,800 employees, according to its third-quarter earnings report
The layoffs come as the software giant said it’s seeing customers exercise caution, with some parts of the world in recession
The reduction is concentrated in the firm’s corporate ranks, mostly Amazon’s retail division and human resources functions like recruiting
Dubai-based Careem also suspended a portion of its public transit offerings
Abu Dhabi Islamic Bank is reportedly planning to close local and international branches