LayoffBlog.com

February 9, 2009

Layoffs to continue in India.

Filed under: India,worldwide — 7macaw @ 7:05 am
Tags: , , ,

In an indication that the global layoff wave has hit the Indian shores, global financial services major Citigroup believes that jobless numbers in the country could climb in the coming months.

According to a latest report by Citigroup, the country does not appear to have remain unscathed from the massive layoffs witnessed worldwide and unemployment could rise further with home coming of migrant workers.

India’s unemployment rate is officially at 8.2% but the point worth noticing is that disguised employment exists in developing economies, the report also said.

Source: LiveMint.com

February 5, 2009

500,000 jobs lost in three months in India

The global meltdown and the consequent slowdown in the Indian economy took 5 lakh [500,000] workers off factory floors in the last three months of 2008, the labor bureau announced today after a study that covered 2,581 units.

The study reveals that between October and December last year, 5 lakh workers have lost jobs in sectors like textile and garment, metals and metal products, automobiles, gems and jewelery, transportation, construction and mining industries.

However, according to the study, IT and BPO increased employment rate marginally by 0.33 per cent, which does not match popular perception. As the entire sample covered 2,581 units, the number of IT companies could not have been too high and the finding is unlikely to mirror the full picture.

Source: The Telegraph Calcutta

November 21, 2008

No layoffs in India, says AMD

According to ITExaminer: “AMD’s Indian employees can rest easy, as the company has no plans to follow up layoffs in the US with similar cuts in India.

AMD India managing director, Dasaradha Gude. said, “This is a global impact of economic slowdown, and AMD hopes to come back hard. It will affect India as well, but we are also at the hiring spree.” He added, “There are no such plans to have similar lay-offs in India.”

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