The coronavirus pandemic isn’t only affecting people’s health and safety. It is also impacting people’s livelihoods as the virus hits the economy. The pandemic has brought the global economy to a halt. With restrictions on movement, nationwide lockdowns, and closure of businesses, the flow of money has become really slow. The virus has not only…
As per the International Labour Organisation’s prediction, the world will witness a loss of about 2.5 million jobs due to the coronavirus pandemic. Most of these job losses are coming from new-age startups and small scale industries who are being tested the most by the economic situation. After hospitality startups like Treebo and Fab Hotels,…
At a time when many companies have hit a pause on hiring, and words like furloughs, pay cuts and job cuts are doing the rounds, French IT services firm Capgemini recently said that it will continue to digitally onboard new employees in India. According to a report by Livemint, the French IT major has said…
Adding to the unemployment crisis caused by coronavirus pandemic, online lending marketplace LendingClub Corp recently announced that it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs. The layoffs represent roughly a third of the company’s total workforce of 1,538 people as of Dec. 31, 2019.…
The ongoing coronavirus pandemic has forced businesses to get on their knees. The nationwide lockdown has started taking toll on businesses and food delivery companies are having a really tough time due to fear of catching the virus in consumer’s mind. Owing to the troubles because of the pandemic, food unicorn Swiggy is recently planning…
Since the lockdown was imposed for the containment of the novel coronavirus, the print and media industry is facing some heat on businesses. The printing of newspapers has now completely stopped and journalists are having a hard time moving to places for news coverage due to the travel bans imposed. The struggling business owners of…
Layoffs have now become a common practice to conserve cash amid the coronavirus pandemic. Even though the governments have repeatedly asked organizations to not resort to job cuts, companies are rapidly laying off staff. Recently, another IT-BPO company Amdocs laid off about 150 employees amid the coronavirus crisis, leaving employees stranded and helpless in such…
Adventure camera maker, GoPro, recently announced that it has done massive organizational changes at the company. Taking into account the impact of the coronavirus pandemic, the company is laying off 20% of its workforce to conserve cash. GoPro has announced a $100 million reduction to 2020 operating expenses including a workforce reduction of more than…
Social commerce startup Meesho has reportedly laid off more than 200 employees of its 700-strong workforce. According to a recent report by the news website Entrackr, in an attempt to conserve cash during the pandemic, the startup has laid off over 200 employees just days after entering into the grocery delivery business. According to the…
The novel coronavirus outbreak which originated in China, has now spread to almost every corner of the world and has led to the world’s largest work-from-home experiment. With employees working remotely and communication getting hampered by distances, there has been a surge on the usage of video conferencing apps like Google Meet, Microsoft Teams and…
Since the Government of India imposed a nationwide lockdown to prevent the transmission of the novel coronavirus, the movement of goods has to come to a halt. Due to the lockdown, several logistics companies have started to lay off employees in an attempt to conserve cash. In recent news, online logistics solutions provider BlackBuck is…
The coronavirus pandemic has impacted several jobs globally with nearly 10 mn people filing for unemployment benefits in America alone. The pandemic has forced businesses to close operations and employees have been sent on furloughs for indefinite periods. The International Labour Organization has predicted that globally around 2.5mn jobs would be lost due to the…
California-based dynamic glass maker, View has recently laid off an unknown number of employees. These layoffs are also made from the company’s plant in Olive Branch, Mississippi. View specializes in making dynamic glasses that are designed to reduce heat and glare as well as lessen eyestrain. View touts its glass as a way for real…
The coronavirus pandemic has proved to be a pain in the back of businesses, especially new-age startups. The pandemic followed by a nationwide lockdown has severely affected the businesses and operations of many organizations that are now finding it hard to tide over the unprecedented crisis. Companies have now resorted to tough cost-cutting measures in…
The coronavirus pandemic has impacted several jobs globally with nearly 10mn people have filed for unemployment benefits in America alone. The pandemic has forced businesses to close operations and employees have been sent on furloughs for indefinite periods. The International Labour Organization has predicted that globally around 2.5mn jobs would be lost due to the…