The second wave of the epidemic hit, financial, aviation and other sectors are facing layoff pressure again

category:Finance
 The second wave of the epidemic hit, financial, aviation and other sectors are facing layoff pressure again


It is worth noting that, compared with the first wave of the epidemic in the past six months, the layoffs in the financial services industry have attracted much attention. On October 1, local time, Goldman Sachs Group was exposed by the media layoff plan. According to people familiar with the matter, Goldman plans to cut about 1% of its employees, or about 400 jobs.

The persistence of the epidemic has forced many financial institutions to re-examine the allocation of human resources. Wells Fargo and Citigroup are among the first to restart layoffs, while HSBC and JPMorgan Chase have joined in a new round of layoffs.

According to foreign media reports, people familiar with the matter said JPMorgan has started a new round of layoffs, including about 80 jobs in the consumer sector and dozens of jobs in other business lines. A spokesman confirmed that the layoffs were part of the companys annual resource review. At the end of June, the bank had more than 256000 employees.

Aviation industry hit again

At the same time, the tourism and aviation industries, which have not yet recovered from the first round of the epidemic, began to suffer a second blow.

Disney said 67% of the people who were laid off were part-time employees, but also executives and full-time employees were being laid off. In April, the company announced a moratorium on the wages of more than 100000 employees in an effort to save $500 million a month and mitigate the impact of the epidemic on its operations.

Lufthansa recently announced that it would cut more jobs and suspend more flights on the basis of the 22000 job cuts announced earlier. It is currently losing about 500 million euros a month.

Due to the severe restrictions on Residents travel, the market expects that the demand for flights throughout the winter will continue to be lower than expected. Lufthansa said it now plans to reduce its fleet by 150 by 2025.

In addition, as a sector closely related to the tourism industry, the situation of layoffs in the energy industry is also quite alarming. Royal Dutch Shell has just announced that it will cut 7000 to 9000 jobs by the end of 2022 as part of its efforts to reduce fossil energy consumption, which may affect more than 10% of its employees. The total includes 1500 people who left voluntarily this year.

Some analysts believe that the epidemic will permanently reshape peoples way of life and travel, and global demand for oil may never return to its record high in 2019. Earlier, BP announced that it would cut 15% of its staff and about 10000 jobs would be cut as part of its internal innovation.