Page 2 - Unemployment

Chip-maker Intel to layoff nearly 340 employees at California campus in US

Calling it "difficult decisions,' chip-maker Intel is laying off nearly 340 employees at one of its campuses in the US

Dutch electronics giant Philips to cut 6,000 jobs worldwide over next 2 yrs

Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros (USD 1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year. The job losses come on top of a reduction of 4,000 staff the company announced in October. The company, which has its headquarters in Amsterdam, is reeling from a worldwide recall of sleep apnea machines and economic headwinds including COVID-related issues in China and the war in Ukraine. CEO Roy Jakobs said 2022 was a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency. He said the job cuts will significantly reduce costs and make Philips a leaner and more focused organisation.

CEO Mark Zuckerberg now puts Meta's middle managers on notice: Report

After sacking 11,000 employees in November last year, Meta Founder and CEO Mark Zuckerberg has now reportedly put middle managers at the company on notice

US-based crypto exchange Gemini to lay off 10% workforce, says report

US-based crypto exchange Gemini said that it will lay off 10 per cent of its workforce, citing "bad actors" in the crypto industry, the media reported.

Google pauses green card applications from employees amid layoffs

Amid the layoffs come another bad news for employees, especially from India in the US, as Google has paused its Program Electronic Review Management (PERM) program

Govt cautions against private surveys on unemployment, alleges bias

Labour ministry's response comes after private group's data showed India's unemployment rose to a 16-month high of 8.3 per cent in Dec

Young men unable to find brides because of unemployment, says Sharad Pawar

Nationalist Congress Party chief Sharad Pawar has criticised the BJP governments at the Centre and in Maharashtra over unemployment, saying it is creating social issues as young men of marriageable age are not finding brides. Speaking before flagging off the NCP's 'Jan Jagar Yatra' campaign here on Wednesday, Pawar said a rift is being created between communities and an attempt is being made to divert the attention from real issues like inflation and unemployment. "It is possible to address the issue of hunger in the country as our farmers have increased the production, but the people in power are not ready to give due remuneration to farmers, instead they are safeguarding the interests of middlemen and pushing the common people into the gorge of inflation," the former Union agriculture minister claimed. Today's youth are educated and they have the right to demand jobs, he said. Industries are going out of Maharashtra, no encouragement is being given to the existing industries and

TikTok owner ByteDance slashes thousands of jobs across multiple depts

The New Year will now be critical for ByteDance, as it faces political uncertainties amid national security concerns over TikTok in the US

Initial jobless claims rise, signal softening market: US Labour Dept

Economists surveyed by The Wall Street Journal had predicted that new claims would increase 7,000 to 223,000, after claims grew 2,000 to 216,000 in the previous week, Xinhua news agency reported

For tech industry, 2022 was a year of mass layoffs; 2023 likely to be worse

The tech layoffs this year have exceeded the job cuts the sector faced globally during the financial crisis of 2008-2009 triggered by the Lehman Brothers' collapse

Consumer sentiments depressed in December

Like the labour market stress is concentrated in urban India, consumer sentiments have also soured essentially in urban India

AAP prepares pitch for 2024 elections at its National Council met

The meeting concluded with the National Council noting the party's achievements over the last decade and passing resolutions against rising inflation and unemployment and Chinese aggression

SaaS major Freshworks lays off 90 employees globally; 60 in India

The company's founder chief executive, Girish Mathrubootham too termed it as a structural change, rather than a company-wide layoff

Malaysia's unemployment falls to lowest in Oct since Covid-19 pandemic

Malaysia's unemployment fell to the lowest level since the Covid-19 pandemic in October, reaching 602,000 persons, official data showed

Vedantu gives pink slips to 385 employees in 3rd round of layoffs this year

It has sacked over 1,100 employees, so far, amid funding winter

Just when things look…: Beware the surprise that catches you unprepared

As the system emerges from the Covid trauma and India shifts its sights to long-term targets, attention must turn to the underlying weaknesses that may scupper ambitious aspirations, writes T N Ninan

Amid support for Modi, steady grumble about unemployment in Gujarat

Nearly 3.64 lakh educated and "semi-educated" youngsters had registered with employment exchanges across Gujarat till December 2021, according to state government data. Of them, the highest number of unemployed youths -- 26,921 -- were in Vadodara, followed by Ahmedabad (26,628), Anand (22,515), Rajkot (18,997) and Kheda (16,163) districts. The figures were shared by Labour, Skill Development and Employment Minister Brijesh Merja in his written replies to a set of questions by the opposition Congress during the State Legislative Assembly session in March. Unemployment remains a major issue in Gujarat even as the BJP-ruled state's governance model has been at the core of the Narendra Modi-led dispensation at the Centre. Polling to elect 182-member Gujarat Legislative Assembly is scheduled to be held in two phases on Thursday and December 5. In its recent report titled Unemployment in India - A Statistical Profile', the Centre for Monitoring Indian Economy (CMIE), a Mumbai-based pri

Urban unemployment rate drops for fifth quarter to 7.2%: NSO survey

The unemployment rate among men and women has been estimated at 6.6 and 9.4 per cent, respectively

Unemployment rate dips to 7.2% in July-September 2022: NSO survey

Unemployment rate for persons aged 15 years and above in urban areas declined to 7.2 per cent during July-September 2022 from 9.8 per cent a year ago, the National Statistical Office (NSO) said on Thursday. Joblessness or unemployment rate is defined as the percentage of unemployed persons among the labour force. Joblessness was high in July-September 2021 mainly due to the staggering impact of Covid-related restrictions in the country. The latest data based on a periodic labour force survey, underlining a decline in the unemployment rate amid an improved labour force participation ratio, point towards a sustained economic recovery from the shadow of the pandemic. The unemployment rate for persons aged 15 years and above in April-June 2022 was 7.6 per cent in urban areas, the 16th Periodic Labour Force Survey (PLFS) showed. It also showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 9.4 per cent in July-September, 2022 from 11.6 per

Indonesian Internet firm GoTo lays off 12% of its workforce to reduce costs

According to TechCrunch, GoTo joins scores of local and global peers in its decision to cut the workforce to navigate the economic slowdown and rising interest rates