Job Losses News

Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation. Three out of four people are worried about the rising inflation and want the government to introduce decisive measures to tackle the same. This is relatively higher in the affluent (32 per cent ), older 36-55 year-olds (30 per cent) and salaried classes (30 per cent).

Tech companies are facing multiple issues like rising inflation, recession fear, Russia-Ukraine war. Meta (formerly Facebook) and Twitter have publicly announced hiring freezes. Snapchat's parent firm Snap is slowing hiring as it misses revenue targets.

While nearly 40 percent of workers globally think they would lose their jobs in five years, 56 percent feel that fewer people would obtain long-term employment in the future, the survey showed. More than 60 percent demanded that governments must work to protect their jobs. The survey also showed that 40 percent of workers used the COVID-induced lockdown in 2020 to hone their digital skills, while 77 percent were ready to learn new skills or to retrain.

The European Union could lose 1.2 million jobs if Britain leaves the bloc without a deal, Belgium`s economy minister said Friday, warning that his own country would suffer a "catastrophic" impact.

IT Minister Ravi Shankar Prasad today dismissed reports of large-scale job losses at Indian IT firms, calling them "motivated".

IT services major Infosys on Friday said it will hire 20,000 people this year as against only 400 people being asked to leave on performance grounds and termed reports of large-scale job losses as "overstated".

Two IT employee groups have flayed the steep hike in compensation awarded to top executives of Infosys, terming the move by the software giant as "painful" amid job losses in the industry.