Page 5 - Job Loss

M&M says 'no widespread layoffs', only 48 employees left in last 12 months

Mahindra & Mahindra on Wednesday said it has let go 48 employees in the last one year due to redundancies while another 98 have been given six months to find a role. Refuting reports that the company has fired 300 executives in its automotive and farm equipment sectors, M&M in a regulatory filing said during the pandemic it has taken "series of actions consistent with our core values and strong focus on associates. There were minimal separations...and no widespread layoffs". "Over the last 12 months, we have let go 48 associates due to redundancies. In addition, 98 associates have been given six months to find a role. The combined total (across all levels) is 1.3 per cent of white-collar associates within auto and farm sectors," the company said. M&M also asserted there are no plans for layoffs at Mahindra Research Valley and on the contrary, it said, "...we continue to recruit talent, which will further accelerate as we ramp up our EV (electric vehicle) strategy." As far .

83% Indians trust robots more than humans to manage their finances

In India, 106 per cent of business leaders saw an increase in financial anxiety and stress, and their sadness grew by 47 per cent due to coronavirus pandemic

Aviation workforce shrank by 39,000 in April-Sept due to Covid-19: Ministry

Highest impact seen in employment at airports which shed 19,247 employees during this period

India's $500 billion Budget to spur growth leaves little for the poor

The budget -- among India's most highly anticipated and closely watched events -- didn't have major proposals to address the job losses, hunger, and rising pressures on the farming and rural sectors

Labour turns to agri, construction as manufacturing fails to create jobs

Manufacturing accounted for 40 million jobs in 2019-20. In the first quarter this dropped to 24.6 million, implying a loss of over 15 million manufacturing jobs

870,000 expats returned to Kerala, more than half due to job loss: Report

The Covid-19 pandemic has forced a whopping 870,000 expatriates from Kerala to return home, most of them from the Gulf, since last May

Efforts on to rehabilitate those who lost jobs during lockdown: Bihar CM

Nitish Kumar asserted that efforts were being made to economically rehabilitate those who have returned to their homes in the state, having lost jobs elsewhere

Covid wiped out 81 mn jobs in Asia-Pacific; women, youngsters affected: ILO

Employment in Asia-Pacific showed a 4.2% decline compared with the pre-crisis trend, with the gap at 4.6% for women and 4% for men, the ILO said in a report

Up to 250,000 Germans may lose their jobs due to new Covid-19 restrictions

Up to 250,000 people may lose their jobs, with roughly 50,000 enterprises facing bankruptcy, if Germany does not provide financial support to cover the losses caused by new restrictions

Job cuts, salary adjustments amid Covid-19 not as widespread, says study

Job cuts and salary adjustments have not been as widespread as originally apprehended despite the severe impact on the revenue of companies in the aftermath of Covid-19 pandemic, a study has revealed.

Contingency funds are more effective against sudden decline in income

Job loss covers have conditions attached

Coronavirus impact: UK unemployment rises to 4.8%; highest since 2016

The unemployment rate increased to 4.8% in the period, up 0.3 percentage points from last month

Bihar: A loss in the state today can turn attention to Modi govt's policies

Losing the state amid soaring unemployment and an economy experiencing the sharpest dive in decades will be a setback for Modi, who invested a lot of political capital in the campaign.

US weekly jobless claims at 751,000 as market recovers at a slowing pace

The number of initial jobless claims in the US totalled 751,000 last week, as the labour market continues to recover at a slowing pace due to the raging Covid-19 pandemic

Job losses, salary cuts hit SIP continuation by MF investors: Survey

Sixty two per cent of mutual fund distributors (MFDs) reported that they saw some pause (58 per cent) or widespread pause (4 per cent) in SIPs

ExxonMobil to lay off 1,900 US employees; mostly at Houston offices

ExxonMobil has said it intends to reduce its US workforce by around 1,900, with international staff reductions potentially rising to as much as 15% over the next year, as Covid batters energy demand

Japan's ANA to cut 3,500 jobs in 3 years over Covid-19 woes: Report

The job losses are part of ANA's broader business restructuring plan to be announced on Tuesday

Top headlines: Lenders to seek fresh DHFL bids; firms begin salary rollback

From lenders planning to seek fresh bids for DHFL to BJP's free Covid-19 vaccine poll promise in Bihar, here are top headlines this morning

Hong Kong's July-Sept unemployment at near 16-year high, pressure remains

The figure was the highest in close to 16 years and compared with 6.1% for the period from June to August

Cathay Pacific to cut 6k jobs, axe Cathay Dragon brand amid Covid: Report

(Reuters) - Hong Kong's Cathay Pacific Airways Ltd <0293.HK> will cut around 6,000 jobs or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post reported on Tuesday, citing sources.