6 h. ago Klarna boss says AI has let it cut workforce in half and boost staff pay

Sebastian Siemiatkowski said there is a ‘massive shift’ coming to society as a result of AI.

Economics

20 h. ago Offshore wind developer Orsted to cut around a quarter of its workforce by the end of 2027

The Danish firm said it was axing about 2,000 roles out of its 8,000-strong workforce, with plans to make around 500 staff redundant by the end of the year.

Politics

25 h. ago One of world’s biggest wind farm developers to cut quarter of workforce

Ørsted plans to shrink company after Trump administration causes share price to plunge to all-time lowOne of the world’s biggest windfarm developers will cut its workforce by a quarter in the next two years after a series of setbacks for the industry.Danish wind giant Ørsted plans to remove about 2,000 positions from its 8,000-strong workforce by the end of 2027 through a combination of redundancies, natural attrition and selling off parts of its business. Continue reading...

Politics

25 h. ago One of world’s biggest windfarm developers to cut quarter of workforce

Ørsted plans to shrink company after Trump administration causes share price to plunge to all-time lowOne of the world’s biggest windfarm developers will cut its workforce by a quarter in the next two years after a series of setbacks for the industry.Danish wind giant Ørsted plans to remove about 2,000 positions from its 8,000-strong workforce by the end of 2027 through a combination of redundancies, natural attrition and selling off parts of its business. Continue reading...

Politics

3 w. ago UN needs to cut $500m from 2026 budget and lose 20% of staff after US funding reductions

Job losses and global reorganisation expected amid Trump administration’s slashing of funding and ‘UN80’ reviewThe UN will need to cut $500m (about £370m) from next year’s budget and lose 20% of its staff as it struggles to cope with a massive reduction in funding by the Trump administration.The plan, in gestation since Donald Trump started cutting his foreign aid budget, is likely to involve an initial minimum 3,000 job cuts out of a 35,000-strong main workforce. The overall UN core or regular budget would be cut from $3.7bn to about $3.2bn next year. It means reductions of 15.1% in resources and 18.8% in posts in the regular budget compared with the 2025 budget. Continue reading...

Economics

3 w. ago UN faces $500m budget cut and 20% job losses after big drop in US funding

Core budget to fall to $3.2bn next year and initial minimum 3,000 job cuts expected amid streamlining processThe UN will need to cut $500m (about £370m) from next year’s budget and lose 20% of its staff as it struggles to cope with a massive reduction in funding by the Trump administration.The plan, in gestation since Donald Trump started cutting his foreign aid budget, is likely to involve an initial minimum 3,000 job cuts out of a 35,000-strong main workforce. The overall UN core or regular budget would be cut from $3.7bn to about $3.2bn next year. It means reductions of 15.1% in resources and 18.8% in posts in the regular budget compared with the 2025 budget. Continue reading...

Economics

last month Wegovy maker Novo Nordisk to cut 9,000 jobs amid increased competition

Danish manufacturer of weight-loss and diabetes drugs under pressure from US rival Eli Lilly Business live – latest newsThe Danish maker of the weight-loss drug Wegovy and diabetes drug Ozempic is to cut 9,000 jobs as it issued a profit warning amid fierce competition from its US rival Eli Lilly.Novo Nordisk’s decision to cut 11% of its global workforce of 78,400 takes place as sales of Wegovy have slowed sharply as it has lost ground to Eli Lilly’s Mounjaro jabs, as well as cheaper versions by generic drugmakers, and the pharmaceutical sector faces the threat of targeted US tariffs. Continue reading...

Politics

last month Ozempic maker Novo Nordisk to cut 9,000 jobs amid increased competition

Danish manufacturer of weight-loss and diabetes drugs under pressure from US rival Eli Lilly Business live – latest newsThe maker of the weight-loss and diabetes drugs Ozempic and Wegovy is to cut 9,000 jobs as it issued a profit warning amid increased competition from the US rival Eli Lilly.Novo Nordisk’s decision to cut 11% of its global workforce comes as sales of its diabetes drugs including Ozempic have slowed sharply as it faces fierce competition from Eli Lilly’s Mounjaro jabs and the threat of US tariffs. Continue reading...

Politics