SWFI Daily Layoffs Briefing, May 18, 2020
Posted on 05/18/2020
Here are more layoffs tied to the economic impact of the Wuhan coronavirus (COVID-19) pandemic.
Uber Technologies
Uber Technologies, Inc. moves to terminate another 3,000 employees. Uber is also closing 45 offices. According to an SEC filing, Uber is expected to compensate up to US$ 145 million to employees via severance and other benefits, and up to US$ 80 million in order to close offices.
Ryanair
Ryanair DAC is an Irish budget airline founded in 1984. Ryanair could face up to 3,000 job losses.
Swiggy
India-based Swiggy, a food delivery startup, plans to slash 1,100 jobs. Swiggy employed roughly 8,000 people late in 2019.
Emirates Group
The Emirates Group is a state-owned Dubai-based international aviation holding company. Emirates Group is planning to cut about 30,000 jobs to reduce costs. No official announcement has been made by the airlines group.
Taiwanese Semiconductor Manufacturing
Taiwanese Semiconductor Manufacturing Co. is the largest contract semiconductor manufacturer. Taiwanese Semiconductor Manufacturing stopped taking new orders from Huawei Technologies, the world’s largest telecommunications maker. Huawei is Taiwanese Semiconductor Manufacturing’s second biggest customer after Apple Inc. The U.S. Commerce Department disclosed that Taiwanese Semiconductor Manufacturing plans to open a new US$ 12 billion chip foundry in Arizona with support from the U.S. federal government and State of Arizona.
Comcar Industries
Comcar Industries, Inc. announced on May 17, 2020 that it has filed for court-supervised bankruptcy protection. Comcar Industries is a motor carrier holding company.