Job Loss

  • Greece approves scheme to fire thousands of public workers July 18, 2013

    Athens: Greece's shaky coalition government scraped through a vote on Wednesday on a bill to sack public sector workers as thousands chanting anti-austerity slogans protested outside parliament. The vote was the first major test for Prime Minister Antonis Samaras's two-party coalition since losing an ally over the abrupt shutdown of the...
  • 'US still a long way to address large scale unemployment' July 18, 2013

    Washington: Noting that the US still has a long way to go to address large scale unemployment, the White House today said the country's deficit is declining at the fastest pace since demobilisation after World War II. "We are seeing our deficits decline at the fastest pace since demobilisation after World...
  • Job security pinches automobile industry as Maruti, M&M lay-off staff July 16, 2013

    New Delhi: The other big fallout of the economic crisis is the fear of job loss - the Automobile industry is already feeling the pinch. India's largest car maker Maruti and Mahindra and Mahindra have laid-off contractual workers with sales down and inventory piling up. On July 9, Maruti sent...
  • More cuts needed to balance British budget, say experts June 29, 2013

    London: A leading think tank here has observed despite spending cuts of 11.5 billion pounds (over $17 billion) as announced by British Chancellor George Osborne for 2015-16, it may not not be enough to balance government budgets in the medium term. According to Carl Emmerson, director of the Institute for...
  • Indian Embassy gets 15k passports of workers stranded in Saudi May 14, 2013

    Dubai: Saudi Arabia has handed over about 15,000 passports of stranded Indian workers, surrendered by Saudi sponsors, to the Indian Embassy in Riyadh, in a bid to resolve cases of immigration law violations. "Most passports, surrendered by sponsors to the Saudi authorities, belong to stranded Indian workers, including those languishing...
  • India conveys concern to Saudi Arabia over Nitaqat law April 29, 2013

    Riyadh: India on Sunday conveyed its concerns to Saudi Arabia over possible job loss to a large number of Indians in the Kingdom due to its new labour law. A delegation led by Overseas Indian Affairs Minister Vayalar Ravi met Saudi Arabian Labour Minister Adel Fakieh to convey India's concern...
  • Bleak US jobs report a danger to global economy June 2, 2012

    Washington: Another bad month for the US job market is lengthening the list of perils facing the global economy. American employers added only 69,000 jobs in May, the fewest in a year and not even close to what economists expected. For the first time since June, the unemployment rate rose,...
  • India Inc warns of job losses, demands stimulus December 12, 2011

    New Delhi: Deeply worried at negative growth in industrial output, particularly the manufacturing sector, India Inc on Monday warned of job losses and said RBI should immediately bring down interest rates to stimulate investment. Industry body Confederation of Indian Industry (CII) said a sharp decline in the capital goods sector is...
  • Obama vows to stop jobs from going to India August 5, 2010

    Washington: US President Barack Obama has vowed to give tough competition to India and China for millions of potential jobs in the American clean energy industry, once again raising the bugaboo of outsourcing. "For generations, manufacturing was the ticket to a better life for the American worker," he said at a...
  • Obama signs law to prevent another recession July 22, 2010

    Washington: US President Barack Obama has signed into law the most sweeping financial industry reform legislation since the Great Depression, terming it insurance against the kind of meltdown that led to a brutal recession. New regulations on Wall Street-type financial firms will not only help prevent another meltdown, but also establish...
  • Tata Corus to axe 1,700 jobs; mothball British plant December 4, 2009

    London: Corus, the European arm of Tata Steel, said on Friday it will cut 1,700 jobs and partially close a plant in Britain's Teesside region in the new year. The decision by the Anglo-Dutch company follows the failure of four international buyers to purchase 80 per cent of the Teesside...
  • Watch: Obama's stimulus plan fails to stem job losses October 29, 2009

    President Obama's stimulus plan doesn't seem to have taken off. It has failed to stem job losses. There are now 30 million people in America who are unemployed. ...
  • Watch: People use 'Hire Me' billboards to get jobs September 21, 2009

    Billboards marketing chips and beer may be common, but now people in the US have taken to marketing themselves through billboards saying "Hire Me". ...
  • Obama optimistic about ebbing recession in US July 30, 2009

    Washington: President Barack Obama on Wednesday said the United States was witnessing the "beginning of the end" of its worst recession in decades. Speaking at a townhall-style gathering in Raleigh, North Carolina, Obama sounded optimistic on the state of the US economy but warned that massive job losses were likely...
  • Indian job market better off than western countries July 3, 2009

    New Delhi: The global economic slowdown has also led to many job losses around the world. While India is better off than western countries, people have still suffered immensely. Job loss is one of the worst fallout of any economic slowdown. What began as a housing mortgage crisis in...
  • More job losses likely at JLR, say Tata Motors June 27, 2009

    Mumbai: Tata Motors may consider more job cuts and plant shutdowns for the Jaguar and Land Rover unit, a top official said on Friday. "There has already been 2,000 job losses. We may be looking at more job losses, more plant shutdowns," Vice Chairman Ravi Kant told a news conference, adding...
  • IBM plans 5,000 lay offs, moves jobs to India March 26, 2009

    New York: International Business Machines Crop plans to lay off about 5,000 US employees, with many of the jobs being transferred to India, a media report said on Thursday. The technology giant has been steadily building its work force in India and other locations while reducing the number of employees based...
  • Recession special: Will I get a job? March 20, 2009

    The Batch of 2009 increasingly finds itself asking that question. Caught in the middle of global economic slowdown, B-schools and many others are recasting the job rules. ...
  • Mid-career crisis hits professionals hard March 20, 2009

    Mumbai: There's no good news for P R Bhatia, senior sales manager in a pharmaceutical company. Recession has hit his company's fortunes and he and his team have not been paid for the last four months. He also lost Rs 10 lakh in the stock market tumble wiping out his...
  • Drown your sorrows, recession hits UK pub culture March 19, 2009

    London: The British are now watching helplessly as recession has hit their favourite passtime -- a pint at the local pub. Due to the credit crunch and also the recession, not only is this tradition under threat, but the pubs themselves are facing an uncertain future. The economic crisis continues...
  • 7.6 pc jobless in US, 5,98,000 jobs lost February 6, 2009

    Washington: Recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974, and catapulted the unemployment rate to 7.6 per cent. The grim figures were further proof that the US's job climate is deteriorating at an alarming clip with no end in sight. The Labor Department's report, released Friday,...
  • Economy likely to improve by June, says trade secy February 5, 2009

    New Delhi: The economy will begin improving in June as fiscal and monetary steps taken by authorities start taking effect, a senior official said on Thursday. But he warned that the pace of growth may not be the same as in the previous three years. "I expect that March-April-May,...
  • Job loss? How to cope financially January 19, 2009

    When it rains, it pours. There's been an avalanche of bad news: first the sub-prime crisis, then global recession and now financial frauds. Of course, the major fall out has been job loss. But what's important now is how you cope with this crisis; more importantly, coping with losing a...
  • Job loss, the No 1 global concern: survey January 8, 2009

    New York: The global economic crisis has made fears of unemployment the No 1 concern, surpassing worries about poverty, social inequality, crime and violence, a 22-nation survey showed on Thursday. Some 41 per cent of people said joblessness was their biggest worry, a 13-percentage point jump from a year...
  • Stonehard facts, US recession hits Indian quarries December 14, 2008

    Hyderabad: Yet another fallout of the global financial meltdown is witnessed in India's heartland. The slowdown now hits hard the granite industry in Andhra Pradesh. Touted as the stone 'galaxy' but now facing a financial crunch is an industry dealing in a special type of granite that comes mostly from ...
  • PM's plea has no credit; Amex cuts jobs November 3, 2008

    New Delhi: Credit card company American Express has asked some of its senior managerial employees to quit as part of its strategy to save costs. The layoffs are primarily in Delhi and Bangalore and all the employees who have been asked to quit have been with Amex India for the past...
  • Economic slowdown dampens festive spirit October 28, 2008

    As India feels the ripple effects of the global financial crisis, is the common man nervous about India's economic health? With stock markets crashing to new lows, how badly have people been affected by the market meltdown? And are people worried about losing their jobs and has that lend them...
  • About 50 per cent Indians fear losing job | Salary cuts October 27, 2008

    New Delhi: The finding of an exclusive CNN-IBN poll on the economy reveals that one out of two Indians is scared of losing the job. The poll, conducted across seven metros, also shows that Mumbaikars are one of the most worried about their job prospects. Close to 50 per cent respondents are...