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A stumbling economy, a falling currency and high inflation, plus weak consumer demand, mean more and more become excess baggage.
'There is a behavioural shift and conservativeness with companies cutting down on manpower and rationalising the number of people.'
Beverages giant Coca-Cola will cut jobs in India as part of its "redesigning operating model" globally to accelerate business growth across markets.
IT attrition rate is expected to be around 12% to 13% this year.
The Migration Advisory Committee said 270,000 less posts should be on the 'shortage list' of jobs, which allows employers to bring in foreign workers without trying to fill them with British staff first. In the latest review published on Thursday, construction workers and quantity surveyors were suspended from the list because unemployment among workers in those professions has risen by 500 per cent as a result of the downturn.
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
Ace pistol shooter Manu Bhaker will lead a 35-member Indian team in the season-opening ISSF World Cups in April in South America.
S&P Global Ratings on Tuesday said the Indian economy is set for "resilient growth" in 2025 and projected inflation pressure to recede which will lead to "modest" easing of the monetary policy by the RBI. In its India outlook for 2025, S&P also retained India's growth forecast for current fiscal at 6.8 per cent, followed by 6.9 per cent growth in 2025-26.
Murthy also said this is not for the first time that the industry has faced the layoff problem and hence there should not be any extreme anxiety as the industry had dealt the issue and found solutions then.
The balance was so perfect in that moment, the irony so rich. Those who cheered on Elia Kazan were cheering on the one quality that made him such a singular artist: He was his own man and not susceptible to groupthink. Those who protested Kazan's presence were protesting that very quality: They were saying that he was too much of an outlier, a wolf in a radical's clothing. Sreehari Nair captures his Kodak moment at the Oscars.
The 5,000 jobs would be cut from the Anglo-Dutch oil and gas group as part of a restructuring that began earlier this year.
Lack of buyers in the property market has forced country's largest real estate firm DLF to cut prices of its future projects by up to 15 per cent, while the firm hinted that unless the housing market improved, it could resort to "some kind of cutting" of jobs.
At a time when the tech sector witnessed a spree of layoffs and slowdown in new hiring, IT firms have opted for temporary jobs in order to turn some their fixed costs variable. Work fulfillment platform Awign has reported a 157 per cent rise in demand for such jobs in first half of 2023. Awign says most of the demand has arisen for highly-skilled tech professionals at mid-level and senior positions with 2-7 years' experience.
With around 2,000 jobs on the line at its troubled investment banking unit here, Barclays is believed to have dispatched a team to recruit and train new staff in India to replace workers in both London and New York, according to The Independent.
The economic slowdown, which caused severe job-cuts across the country, has brought new opportunities for frauds who, masquerading as representatives of IT companies, are luring employment-seekers with promises of good placements in lieu of some 'security amount'.
Bill Aitken came to India nearly 60 years ago. He never returned. An Indian citizen since 1972, he tells Rediff.com's Archana Masih how India changed his life forever.
The British Broadcasting Corporation on Tuesday said it would cut about 2,900 jobs, more than 10 per cent of its workforce, as a part of "transformation" of the world's biggest public broadcaster, aimed at saving 320 million pounds a year.
Besides, the Vikram Pandit-led bank has hinted at further job cuts in the coming days, after already having cut down or announced plans to bring down its workforce to below 3,00,000 employees from more than 3,75,000 at the end of 2007. In an internal mail to all its employees in the US, Citi's human resources head Paul McKinnon said on Monday that it would eliminate some 'supplemental severance payment' for the employees with 10 or more years of service.
Of the 921 job reductions, 228 flight attendants would be furloughed, while another 244 would be put on involuntary leave in October and November. An additional 449 attendants have chosen voluntary buyout packages, including overage leaves of absence, resignations with travel benefits and partnership flying.
The best way to achieve financial security isn't by cutting out every vada pav or limiting yourself to home-cooked meals; it's by making yourself indispensable at work, says Vatsal Ramaiya.
'If the Trump administration decides to put guardrails on H-1B visas, that will surely impact both US and Indian firms.'
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Yahoo! Inc, the Internet company that rejected a takeover offer from Microsoft Corp., reported a 64 per cent drop in profit after advertisers curbed spending. The company also announced plans to cut at least 10 per cent of jobs.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
The figure constitutes less than one per cent of the company's 1,30,000-workforce. According to the report, a TCS spokesperson reasoned that these employees had failed to meet performance standards.
Demonetisation and GST are the main reasons for the job losses.
-French flair topped American firepower as Gael Monfils turned back the clock to dump fourth seed Taylor Fritz out of the Australian Open on Saturday and celebrate his place in the last 16 with a dance on court.
Cultivate a thirst for knowledge, explore online courses, attend workshops and network with peers. Embrace opportunities to learn new skills and stay updated about industry trends to remain relevant and future-proof your career, advises Manu Saigal, director-general, staffing, Adecco India.
US banking behemoth Citigroup is still looking out for new employees and has posted more than 100 job vacancies over last week
According to the Unite union, Rolls-Royce sent an internal memo to its staff to detail its proposals.
The move is aimed at reducing costs and improving efficiency.
Chhaava deserves 2 stars for the historically half-baked film that it is, but 4 stars just for its attempt on making a film on Sambhaji, observes Prasanna D Zore.
To curb raw material imports from China and promote textiles, the Uttar Pradesh government is looking to set up nearly a dozen private textile parks in the state. The textile parks would be established under the UP Textile and Garmenting Policy 2022.
Apollo Tyres on Thursday said it is looking at laying off about 1,500 of its workforce.
A round-up of Saturday's action in LaLiga, Ligue 1, Serie A and Bundesliga.
Wednesday's 3-0 win was also the club's 12th clean sheet in a row.
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
