Page 3 - Workforce

Meta raises executive bonuses to 200% amid layoffs, cost-cutting measures

The announcement to raise bonuses comes just a week after Meta began laying off 5 per cent of its workforce, a move the company attributed to targeting underperforming employees

Committed to 70% female workforce participation goal by 2047: Labour secy

India is committed to achieving 70 per cent female workforce participation by 2047 as the government has extended maternity leave, creche facilities, and equal pay provisions for them, a top official said. Addressing the first G20 Employment Working Group Meeting 2025 under South African Presidency, Union Labour Secretary Sumita Dawra also stated that India's increasing participation of women in high-growth sectors like IT, R&D, and engineering was noted as a critical driver of economic growth. Dawra led the Indian delegation at the meeting being held from February 18-21 at Port Elizabeth, South Africa, an official statement said. The delegation included Thelma John David, Consul General of India in Durban, South Africa, and Piyush Kumar Pathak, Deputy Director from Ministry of Labour & Employment. She emphasized the success of the e-Shram portal, which has registered over 300 million unorganized workers, and the modernization of ESIC and EPFO schemes. The Employment Linked ...

Sunrise sectors drive India's apprenticeship growth to record high: Report

Industries at the forefront of technological and economic transformation are increasingly turning to apprenticeships to build a skilled workforce, according to the latest Apprenticeship Outlook Report

Qcom to lead gig workforce hiring in 2025 amid expansion, rising demand

While qcom has emerged as a viable alternative, the overall investments and count of players in the segment will go up

Chevron to cut up to 20% of global workforce amid cost-saving push

At the same time, the company is facing weak margins in its refining business, which reported a loss in the fourth quarter for the first time since 2020

Welfare scheme benefits causing labour shortages in construction: L&T MD

Addressing the CII Mystic South Global Linkages Summit, L&T's MD noted that despite the crucial role of construction in national development, the industry is struggling due to a lack of workforce

Economic Survey sounds alarm on AI, calls for education-industry links

The survey highlighted that critical thinking, creativity, and deep domain expertise will soon outweigh narrowly focused technical skills

Andhra Pradesh govt to develop Data City near Vizag, create 2 mn jobs

In line with the Telugu Desam Party's election promise to create 2 million jobs within five years, the state government has unveiled plans to develop the Data City in Madhurawada

'My kid is never gonna grow up being smarter than AI': OpenAI's Sam Altman

Sam Altman says the next generation will grow up with AI that's smarter than us, transforming the way we work, live, and understand human potential

BCRC seeks RBI nod for five-day week, looks to attract skilled workforce

"While our dedication remains unwavering, this continuous seven-day schedule is proving unsustainable in the long run," the BCRC said in its submission to the central bank

BP cuts over 5% of workforce in CEO Murray Auchincloss' cost-cutting plan

BP CEO Auchincloss last year vowed to reduce the British company's costs by at least $2 billion by the end of 2026 as part of his drive to boost returns amid investor concerns

'Quality over quantity': Adar Poonawalla, Anand Mahindra on 90-hr work week

Industrialists Anand Mahindra and Adar Poonawalla batted for quality of work over quantity after L&T Chairman SN Subrahmanyan advocated for a 90-hour work week

Vertex Global Services to integrate 10-12% differently-abled into workforce

New York-headquartered Vertex Global Services on Monday announced its plan to integrate 10-12 per cent of differently-abled individuals into its workforce. The company has an existing employee base of 800-plus and has aggressive plans to take it to over 2,500 in the next four years, according to a statement. It plans to integrate 10-12 per cent of differently-abled individuals into the workforce within next four years, it said. This initiative not only promotes inclusivity but also strengthens the diverse talent pool within the organisation, it noted. In India, it stated, the unemployment rate among individuals who are differently abled remains exceptionally high, with some estimates exceeding 70 per cent. This situation persists despite the existence of legislation that allocates 3 per cent of government positions for them, it noted. Vertex Global Services aims to create a diverse pool of opportunities for differently-abled individuals to receive training in multiple languages,

UK govt outlines first steps in new plan to get more people back into work

Britain is the only major economy where the inactivity rate remains above its pre-Covid-19 levels

IT flexi staffing space to grow steadily at 7% till FY26: ISF report

India's IT flexi staffing space is likely to grow steadily at a compound annual growth rate (CAGR) of 7 per cent from FY24 to FY26, stated a report by industry body India Staffing Federation (ISF). The IT flexi staffing industry focuses on supplying temporary or contract IT professionals to client organisations. ISF has also released the Indian IT Staffing-Sectoral & State Employment Trends Report 2024, which provides an in-depth analysis of trends in employment across various sectors and states. According to the report, India is the second-largest player in the South Asia-Pacific (APAC) region within the rapidly expanding APAC IT staffing market. Lohit Bhatia, President of ISF, said in the statement, "India's IT flexi-staffing sector is anticipated to experience steady growth, with a projected compound annual growth rate (CAGR) of 7 per cent from FY 2024 to FY 2026." The Indian IT Flexi Staffing Market size is USD 4.9 billion in FY24, with a total workforce of 5,97,000. Accordin

India's workforce set to increase to 457.62 mn by 2028: ServiceNow Report

India is on track to increase its workforce from 423.73 million in 2023 to 457.62 million by 2028, reflecting a net gain of 33.89 million workers, a report said on Wednesday. According to a report by American software company ServiceNow, emerging technology will transform talent across India's key growth sectors, generating 2.73 million new tech jobs by 2028. According to the report this surge in demand presents retail professionals with a valuable opportunity to upskill in areas like Software Application Development and Data Engineering, equipping them for a tech-driven landscape. This is followed by manufacturing (1.50 million jobs), education (0.84 million jobs), and healthcare (0.80 million jobs), propelled by expected economic growth and tech transformation, it stated. "AI will be a key catalyst for job creation across India's growth engines, particularly in roles requiring advanced technical skills. This strategic emphasis will not only create more high-value opportunities fo

Proper infra, workforce key challenges for logistics industry: Experts

Lack of proper road infrastructure, land availability for warehousing and skilled workforce shortages are some of the key challenges being faced by the logistics industry, according to experts. Warehousing needs land availability in and around metropolitan cities as a pick-up in economic activities is creating demand for logistics, Assocham Secretary General Deepak Sood said. Besides, the warehousing sector in India is highly fragmented, with many small and unorganised players, leading to inefficiencies, lack of standardisation, and limited scalability, he added. The lack of proper road infrastructure and congestion causing delays impacts the supply chain efficiency, Srikumar Krishnamurthy, Senior Vice President & Co-Group Head - Corporate Ratings, Icra Ltd, said. Some of the near-term headwinds are the inability to increase freight rates amid competitive pressures, an inflationary environment and relatively sticky diesel prices, he noted. BookMyCargo founder JD Yadav said the ...

After Boeing, Airbus to slash 2,500 jobs amid ongoing financial losses

These job cuts at Airbus, which represent around 7 per cent of its defence and space division's workforce, are expected to be implemented by mid-2026

About 40% of our global R&D workforce is in India: Sindhu Gangadharan

Gangadharan emphasises India's strategic importance for SAP's growth and innovation

TCS expands operations in Poland, aims to double workforce in a year

Tata Consultancy Services (TCS) on Friday said it has expanded operations in Poland with the opening of a new delivery centre in Warsaw, and expects to double its workforce in the region to over 1,200 within a year. The new delivery centre showcases TCS' capabilities across industries and technologies, according to a regulatory filing. "The new delivery centre will allow TCS to access the skilled talent pool in the Polish Information and Communication Technology (ICT) industry to provide hyper-connected services to global clients. "With the new delivery centre, TCS expects to double its workforce to 1,200-plus in a year to support its further growth in the region," it said. Indian Ambassador to Poland Nagma Mallick, TCS head of Europe Sapthagiri Chapalapalli and General Manager for TCS in Eastern Europe Prabal Datta inaugurated the centre. The new centre joins TCS' European delivery network, which facilitates the delivery of hyper-connected services to its customers across ...