outplacement assistance

Meta has initiated significant layoffs, impacting thousands globally as roles are eliminated to enhance efficiency and fund AI investments. Employees are informed via email about severance, visa support, and system access termination. A non-working notice period is in effect, with continued pay and benefits until the termination date. Outplacement services are also provided.

Infosys has recently asked 195 more trainees to leave after they failed internal assessments, bringing the total number of affected trainees to over 800 since February. The company is offering support, including outplacement services and training programs.

Infosys recently laid off 240 trainees due to their failure to meet internal assessment criteria, offering them transition assistance and outplacement services. As tech industry layoffs rise, companies are increasingly using outplacement firms to support retrenched employees amid digital transformation and workforce restructuring. This trend extends beyond IT, impacting sectors like pharma and food processing, reflecting broader economic challenges.

A large bank wanted to trim its headcount to optimise costs. In an earlier instance, it involved the HR and finance teams. This time, the bank brought in outplacement service providers who helped the company achieve cost savings — without laying off any staff, and redeploying them in relevant roles instead.

Bengaluru-headquartered Meesho has sacked 150 full-time employees as part of a restructuring exercise of the Meesho Superstore. When contacted by TOI, the Meesho spokesperson said the move will bring in efficiencies.

Paytm layoffs: Paytm claims it is providing outplacement support to laid off employees, collaborating with over 30 companies that are currently hiring and assisting those who have chosen to share their information to facilitate their immediate outplacement.

The company made all efforts to ensure that all people impacted by this change have been well taken care of.

Simpl laid off 160-170 employees, with roles spanning engineering, product development, core operations, interns, call center agents, and D2C checkout, aiming to improve profitability amid high cash burn and slowing user acquisition.

The airline, in the process of terminating the services of a section of employees since the past couple of weeks, suspended 50 others on Saturday.

The audio brand Bose has confirmed that it will be shutting down its various retail stores over the next few months.

Tata Consultancy Services plans to reduce its workforce by approximately 2%, impacting over 12,000 employees due to economic uncertainties and AI-driven technological changes. The company will provide affected staff with notice period compensation, severance benefits, insurance coverage, and outplacement assistance. This decision comes amid a slowdown in hiring across the Indian software services sector.

Tata Consultancy Services (TCS) faces objections from IT employee organizations over its plan to reduce staff by approximately 12,000, impacting middle and senior positions. Unions deem the dismissals unlawful, advising employees to resist resignation pressures.

Sun Pharma has decided to shut its manufacturing plant at Detroit, US owned by its subsidiary Caraco Pharma.

New Delhi, Jul 20 () Nearly 17 months after it began operations, Aditya Birla Idea Payments Bank Limited Saturday announced winding up of its business on account of "unanticipated developments" that made its economic model "unviable".

Nasdaq-listed Cognizant initiated rationalisation of its top deck with a ‘voluntary separation’ programme at the director level and above in June with a generous severance payout of up to a year’s salary and other stock benefits based on their tenures in the company.

Following RBI's decision to halt Paytm Payments Bank and its wallet business, many employees are being pressured into sudden "voluntary resignations" without prior notice. Several current and former Paytm employees told TOI that severance pay has been withheld from some. In today's economic climate, layoffs have regrettably become widespread across diverse industries. It is imperative for employees to comprehend their rights and actively seek fairness throughout the layoff process during these challenging times.

It is estimated that a total of 750 employees, from assistant managers to vice presidents, have been shown the door across locations in India.