WASHINGTON (AP) — The number of Americans applying for unemployment aid fell last week to 547,000, the lowest point since the pandemic struck and an encouraging sign that layoffs are slowing on the strength of an improving job market. The Labor Department said Thursday that applications declined 39,000 from a revised 586,000 a week earlier. Weekly jobless claims are down sharply from a peak of 900,000 in early January. At the same time, they're still far above the roughly 230,000 level that prevailed before the viral outbreak ripped through the economy in March of last year. “With 135 million Americans having received at least one dose of a COVID-19 vaccination and the economy opening up more each day, the number of job opportunities will continue to rise,” said James Knightley, chief international economist at ING, a European bank.
California is partway through a deliberate pause in processing an avalanche of unemployment claims that poured into the embattled state labor agency amid coronavirus-linked business shutdowns -- and state officials disclosed on Thursday a backlog of jobless claims that is still about 1.6 million.
United Airlines and American Airlines will move forward with furloughing thousands of employees as the CARES Act Payroll Support Program expires.
Mozilla announced its decision to lay off approximately 250 people and shut down its operations in Taipei, Taiwan, in a blog post on Tuesday. Mozilla CEO Mitchell Baker wrote to the employees in an email that the brand’s pre-COVID plans were no longer workable.
These 350 impacted Swiggy employees will continue to avail health insurance benefits till December and an extra month of ex-gratia will also be offered for every year with the organisation.
LinkedIn said that it would cut 960 jobs, comprising six percent of its global workforce. Chief Executive Ryan Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for U.S. employees, and will hire for newly-created roles from laid-off staff.
AT&T plans to close 250 stores, according to the Communications Workers of America.
Federal stimulus money for airlines is keeping them afloat through the coronavirus pandemic, but it’s not proving to be enough to sustain the industry at its pre-pandemic size.
Founder Deep Kalra and CEO Rajesh Magow sent out a letter to all MakeMyTrip employees informing them about the layoff. The letter was accessed by Gadgets 360, and the reason for this layoff has been attributed to the COVID-19 crisis, and its long-drawn impact on the travel industry.
BookMyShow is laying off or putting on furlough about 270 employees in India and globally. With theatres and stadiums completely shut since the lockdown, the ticketing company has had to take the difficult decision of downsizing.
Uber is laying off 600 employees in India as a part of the company’s recent announced global job cuts. This comes a week after Ola laid off about 1,400 employees in the country.
Ola has announced that it is laying off a total of 1,400 employees with a view to downsize its organisation that has a headcount of over 7,000 people.
Zomato has announced that it is laying off around 520 people or 13 percent of its total workforce of nearly 4,000 employees to reduce the economic impact it faced due to the COVID-19 outbreak.
The layoffs at Swiggy were announced via email to all employees by its CEO Sriharsha Majety, wherein he added that the HR team along with the line manager will have a 1-1 conversation with impacted employees.
Swiggy will lay off around 800-900 employees from its cloud kitchen business next month, according to a report.
The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
The number of Americans filing claims for unemployment benefits likely raced to as high as a record 4 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs.