Jobs

Official figures released on Thursday show a 9.3% growth in the manufacturing sector during August but this is compared to a low base of the previous year when output contracted.

According to the report from career services firm Challenger, Gray & Christmas. US-based employers announced 40,709 cuts in June, down 49 per cent from the 80,089 cuts announced in May.

Infosoft Solutions Inc, an IT recruiting and contracting company operating as KForce Tech LLC, violated the Immigration and Nationality Act (INA) by posting six discriminatory job advertisements between July 2021 and August 2021. When employers advertise jobs only to applicants from a certain country or who need temporary vis.

Given that personnel are a key cost driver for most organizations, it's not surprising that business leaders look for job cuts while trying to contain costs in an uncertain business environment. However, a Gartner analysis suggested that forecasted savings tend to become offset by the unforeseen consequences of layoffs within three years and in many cases can be detrimental to shareholder returns in the long term.

According to the report by foundit (previously Monster India & APAC), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters. Although some sectors like BFSI (+3 per cent), Travel & Tourism (+2 per cent), and Import/Export (+13 per cent) experienced a boost on a month-on-month (MOM) basis, other sectors, such as Logistics, Home appliances, and Oil and gas, saw a significant decline.

That finding comes from the World Economic Forum, which published a report based on surveys of more than 800 companies, reports CNN. WEF -- which hosts a gathering of global leaders in Davos, Switzerland, every year -- found that employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions.

Notably, this will be on a high base of fiscal 2023, when a return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to about 116 per cent of the pre-pandemic level, the report said. Additionally, high occupancy levels, solid profitability backed by cost-optimisation.

The digital publication, however, denied that its experiments with AI chatbot ChatGPT for writing assignments is behind the job cut move, reports The Daily Beast. The layoffs reflect a media market still adjusting to a struggling economy. The staff members affected by the layoffs would receive 13 weeks of base pay.

Kumar was in the city recently to unveil STPI incubation facility. Any NGO registered as a private limited company with a novel idea that meets the set criteria can be taken up as a startup. Interacting exclusively with IANS, he said, "Currently, around 10,000 startups are being supported by us, and these entities have been instrumental in creating thousands of direct and indirect jobs.