cut

Retail Asia02/06/2023

The mass layoffs that began last year amid a market decline continue in the struggling property sector, with major developers and brokerages downsizing their sales teams to survive. Property developer Dat Xanh Group laid off 1,384 people in the first quarter after letting go 3,191 in the previous one. Its brokerage subsidiary, Dat Xanh Services, […]

Retail Asia10/08/2021

India is considering slashing import duties on electric cars to as low as 40%, two senior government officials told Reuters, days after Tesla Inc’s appeals for a cut polarised the country’s auto industry. For imported electric vehicles (EVs) with a value of less than $40,000 – including the car’s cost, insurance and freight – the […]

Retail Asia23/07/2019

US carmaker Ford said Thursday that it plans to slash a total of 12,000 jobs across Europe as part of a previously-announced restructuring, as it closes or sells six plants in Britain, France, Russia and Slovakia in 2019 and 2020. “Ford’s manufacturing footprint in Europe will be reduced to a proposed 17 facilities by the end of […]

Retail Asia21/06/2019

Amazon Australia is holding its second mid-year sale, slashing prices on tens of thousands of products from Friday, May 31, through the month of June. The deals include up to 50 percent off select clothing, shoes and accessories from brands such as Calvin Klein, Berlei and Bonds; discounts on select TVs, video games and books; […]

Retail Asia11/06/2019

Incoming Daimler boss Ola Kaellenius is working on a cost cut program to reach profit margin targets which are threatened by global trade woes and ramp up issues at factories, Handelsblatt reported, citing company sources. Kaellenius, who will take over from Dieter Zetsche after the company’s annual general meeting on May 22, has been working […]

Retail Asia18/04/2019

While Apple continues to dominate the paramount US smartphone market in terms of both sales numbers and profits, the company’s trouble across two other key regions seems to be intensifying rather than ameliorating. Of course, the Cupertino-based tech giant is not sitting idly by as the likes of Huawei, Xiaomi, and even OnePlus are rendering its brand irrelevant in China […]

Retail Asia18/06/2017

Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced Thursday. Nike said it would cut about two percent of its global workforce as it implements the “Consumer Direct offense,” a reorganization initiative that targets […]

Retail Asia18/11/2016

Indonesia’s central bank kept its benchmark interest rate unchanged after six cuts this year, seeking to calm financial markets in the wake of the United States presidential election results. Governor Agus Martowardojo and his board held the seven-day reverse repurchase rate at 4.75 per cent yesterday. Analysts had said market volatility following Mr Donald Trump’s […]

Retail Asia30/10/2016

The problems at Germany’s largest lender, Deutsche Bank, which has seen its share price tumble to record lows on concerns of a looming US$14 billion (S$19 billion) fine by US authorities, could raise questions over the fate of some of its 2,100-strong workforce in Singapore, analysts said on Monday (Oct 3). “For the German bank, […]

Retail Asia10/07/2016

Toyota Motor Corp’s Thai unit has launched a voluntary redundancy program aimed at cutting around 800 subcontractors in Thailand due to economic problems in the southeast Asian country and abroad. Thailand’s economic slowdown, along with uncertainty over the global economy, have affected both the domestic automotive industry and exports since the beginning of the year, […]

Retail Asia25/05/2016

Nokia could cut as many as 15,000 jobs worldwide as part of the cost-cutting program associated with its merger with Alcatel-Lucent, union officials estimate. A Nokia union steward as stating that based on the information received so far, the union estimates that the job cuts are likely to be around 10,000 to 15,000 jobs. This […]

Retail Asia08/04/2016

Nokia has commenced a program to cut thousands of jobs worldwide as part of the cost-cutting and transformation program associated with the takeover of Alcatel-Lucent. The company plans to cut 1,300 jobs in Finland, 1,400 in Germany and 400 in France as part of the headcount reduction program, which will take place between now and […]

Retail Asia18/01/2016

CIMB Group will not undertake any more job cuts in Malaysia and Indonesia in 2016 after last year’s mutual separation scheme exercise. CIMB Group chief executive Tengku Zafrul Aziz said the bank was now focused on improving productivity and meeting its business agenda. “We have done the mutual separation scheme and we are not planning […]

Retail Asia14/05/2015

Online retailer Alibaba believes it has found a way to cut the retail prices of wine in China. Using its business to business website 1688.com Alibaba has commenced selling wine direct to retailers, short-circuiting a raft of middlemen currently adding margins yet no value to the supply chain. Buyers from 1688.com are negotiating to buy […]

Tag: cut

Job cuts continue in embattled property sector

India Considers Sharp Import Tax Cuts On EVs After Tesla Lobbying

Ford Says To Cut 12,000 Jobs In All Across Europe

Amazon cutting prices on thousands of online items

Daimler Plans To Cut Administration Costs By 20%

Massive iPhone XR price cut in India

Nike to cut 1,400 jobs in reorganization

Indonesia holds rate steady after six cuts

Deutsche Bank woes may lead to job cuts in Singapore

Toyota plans to cut 800 jobs in Thailand

Nokia could cut up to 15,000 jobs

Nokia starts cutting jobs after ALU merger

CIMB: No more job cuts in Malaysia, Indonesia this year

Alibaba aims to slash wine prices