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After the UBS-Credit Suisse merger, role rationalisation may lead to job losses at India-based tech centres. Both offices together employ 14,000 employees across 3 cities in India

UBS-Credit Suisse Merger: Thousands of Indian jobs at risk

After the UBS-Credit Suisse merger, role rationalisation may lead to job losses at India-based tech centres. Both offices together employ 14,000 employees across 3 cities in India

Thousands of Indian jobs could be at risk following the takeover of Credit Suisse by UBS. Employees working at the banks' technology offices in India may lose their jobs, reported The Economic Times.&nbsp;
Both companies together have 14,000 employees in the technology wing across three cities in India. Many of these jobs will be impacted when UBS starts rationalising its roles and focuses on cost reduction, especially those working at Credit Suisse.&nbsp;
However, Business Standard has reported that Credit Suisse's banking employees in India could benefit from the takeover. The report has claimed that since UBS has smaller operations in India, it is likely to retain most of Credit Suisse's banking employees.
In a deal orchestrated by regulators, banking giant UBS is buying crisis-hit Credit Suisse for almost $3.25 billion. Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs (USD 54 billion) failed to reassure investors and the bank's customers.
The UBS-Credit Suisse deal is likely to be completed by the end of 2023.

After sacking 7000 employees in february, the entertainment conglomerate Disney is considering sacking 4000 more this April, as per reports. 

Disney mulling 4000 jobs cuts in second round of layoffs 

After sacking 7000 employees in February, the entertainment conglomerate Disney is considering sacking 4000 more this April, as per reports. 

Disney likely to layoff 4000 employees

After sacking 7000 employees in february, the entertainment conglomerate Disney is considering sacking 4000 more this April, as per reports.&nbsp;

Entertainment conglomerate Disney is likely to layoff 4000 employees in April. According to Business Insider, the firm has instructed its managers to propose budget cuts and prepare a list of employees who would be laid off.
This comes after the company sacked 7000 employees in February for restructuring, cutting content and trimming payroll. The company&rsquo;s CEO Bob Iger in February said that the move was &ldquo;necessary to address the challenges we&rsquo;re facing today&rdquo;.
Apart from this, Disney has also announced a reduction in general entertainment aimed at adults. It is also considering its options over what to do with the streaming service Hulu. Hulu is owned two-thirds by Disney and one-third by Comcast Corp.
This comes ahead of Disney's annual meeting on 3 April.&nbsp;

Even after cutting costs and jobs to revive its fortunes, swiss banking giant posted its biggest annual loss since the 2008 financial crisis 

Credit Suisse faces biggest loss since 2008 financial crisis 

Even after cutting costs and jobs to revive its fortunes, swiss banking giant posted its biggest annual loss since the 2008 financial crisis&nbsp;

Credit Suisse shares plunged nearly 15 percent on Thursday as the Swiss banking giant posted its biggest annual loss since the 2008 financial crisis -- and warned it expects to stay in the red in 2023.
Switzerland's second-biggest bank, which unveiled a dramatic restructuring plan in October, reported a net loss of 7.3 billion Swiss francs ($7.9 billion) for 2022.
It was the worst yearly set of results for the scandal plagued Zurich-based lender since it shed more than eight billion Swiss francs during the global financial crisis 15 years ago.

A heart warming story from Madhya Pradesh where a dwarf man who was running from pillar to post in search of a job has now got over 30 job interviews to attend.
The man on your screen is Ankesh Kosthi whose height came in the way of his sky high ambitions. 28-year-old Kosthi who has a Post-Graduation Diploma in Management degree was reportedly being denied a job owning to his height. The youth, whose mother is a worker at a beedi factory and father runs a tailoring shop, stands 3 feet 7 inches tall.
Since 2020, he had being sending his job applications to different companies to no avail. That has changed now.
Kosthi’s fortunes overturned on a visit to the house of local lawmaker in Gwalior where he lives. The purpose of the visit to Congress leaderPraveen Pathak's house was to get the Aadhaar card of his mother rectified.
The visit to the MLAs house, however, opened up a conversation on Kosthi’s struggles. It was Pathak's social media post about Kosthi that at least 30-35 companies have accepted his circulum vite. Pathak has also asked him to take over as MLA for a day.
 
 
 

Dwarf man who didn't get job despite management degree has over 30 interviews lined up: here's why

Since 2020, he had being sending his job applications to different companies to no avail. That has changed now. (Post as link)

A heart warming story from Madhya Pradesh where a dwarf man who was running from pillar to post in search of a job has now got over 30 job interviews to attend.
The man on your screen is Ankesh Kosthi whose height came in the way of his sky high ambitions. 28-year-old Kosthi who has a Post-Graduation Diploma in Management degree was reportedly being denied a job owning to his height. The youth, whose mother is a worker at a beedi factory and father runs a tailoring shop, stands 3 feet 7 inches tall.
Since 2020, he had being sending his job applications to different companies to no avail. That has changed now.
Kosthi&rsquo;s fortunes overturned on a visit to the house of local lawmaker in Gwalior where he lives. The purpose of the visit to Congress leader Praveen Pathak's house was to get the Aadhaar card of his mother rectified.
The visit to the MLAs house, however, opened up a conversation on Kosthi&rsquo;s struggles. It was Pathak's social media post about Kosthi that at least 30-35 companies have accepted his circulum vite. ((PLAY MLA&nbsp;VIDEO)) Pathak has also asked him to take over as MLA for a day.

Kosthi&rsquo;s fortunes overturned on a visit to the house of local lawmaker in Gwalior where he lives. The purpose of the visit to Congress leader Praveen Pathak's house was to get the Aadhaar card of his mother rectified.

A heart warming story from Madhya Pradesh where a dwarf man who was running from pillar to post in search of a job has now got over 30 job interviews to attend.
The man on your screen is Ankesh Kosthi whose height came in the way of his sky high ambitions. 28-year-old Kosthi who has a Post-Graduation Diploma in Management degree was reportedly being denied a job owning to his height. The youth, whose mother is a worker at a beedi factory and father runs a tailoring shop, stands 3 feet 7 inches tall.
Since 2020, he had being sending his job applications to different companies to no avail. That has changed now.
Kosthi&rsquo;s fortunes overturned on a visit to the house of local lawmaker in Gwalior where he lives. The purpose of the visit to Congress leader Praveen Pathak's house was to get the Aadhaar card of his mother rectified.
The visit to the MLAs house, however, opened up a conversation on Kosthi&rsquo;s struggles. It was Pathak's social media post about Kosthi that at least 30-35 companies have accepted his circulum vite. Pathak has also asked him to take over as MLA for a day.
ALSO WATCH:&nbsp;<a href="https://www.editorji.com/india-news/local/madhya-pradesh-man-chops-dog-s-leg-kills-it-for-biting-his-son-case-filed-1638431272743">Madhya Pradesh: Man chops dog's leg, kills it for biting his son, case filed</a>

According to ILO’s projections, only 43.2% of the world's working-age women will be employed in 2021, compared to 68.6% of working-age men.

Offices are reopening but only one gender can return to work. Here’s why

According to ILO&rsquo;s projections,&nbsp;only 43.2% of the world's working-age women will be employed in 2021, compared to 68.6% of working-age men.

Covid-19 pandemic hit women's jobs much harder than men: ILO&nbsp;report
4.2% of women's employment was&nbsp;eliminated, compared to 3% for men
Far more women shifted focus to care work, managing family needs
Care work is important but unpaid and unaccounted in employment data
12 million women had no access to contraceptives due to&nbsp;lockdowns
Leading to 1.4 million unintended pregnancies during the pandemic: UNFPA
Women laid off more, but only men's employment returning to 2019 levels
Those in&nbsp;accommodation, food services &amp; manufacturing sectors hit hardest
Only 43.2% of working-age women will be employed in 2021
Compared to 68.6% of working-age men who are likely to find jobs
Women continue to bear the worst of the pandemic's consequences

According to ILO&rsquo;s projections,&nbsp;only 43.2% of the world's working-age women will be employed in 2021, compared to 68.6% of working-age men.

Death, grief and job losses from the pandemic have affected everyone but women&rsquo;s jobs have been hit much harder than men, the International Labour Organization (ILO) shares in a report.
Between 2019 and 2020, 4.2% of women's employment was eliminated due to the pandemic, representing a drop of 54 million jobs, compared to 3% of men's employment or 60 million jobs, the UN agency said.&nbsp;&nbsp;
A major portion of this discrepancy is due to the fact that far more women shifted their focus to care work or tending to their family&rsquo;s needs.&nbsp;While this work is important, it is unpaid and not accounted for in employment figures.&nbsp;Additionally, lockdowns reduced access to contraceptives which left at least 12 million women unprotected. This led to&nbsp;1.4 million unintended pregnancies&nbsp;during the pandemic, as per UNFPA data.
SEE MORE&nbsp;<a href="https://www.editorji.com/story/2020-was-the-most-stressful-year-for-all-but-women-were-hit-the-hardest-survey-1627531244451">2020 was the most stressful year for all, but women were hit the hardest: survey</a>
And even though women were at a greater risk of layoffs and reduced pay and working hours,&nbsp;only men's employment is likely to recover this year to 2019 levels. The ILO noted that those working in the accommodation, food services and manufacturing sectors were hit the hardest.&nbsp;Informal workers, many of whom are women, have also suffered major job losses.&nbsp;&nbsp;
According to ILO&rsquo;s projections for the current year,&nbsp;only 43.2% of the world's working-age women will be employed in 2021, compared to 68.6% of working-age men.&nbsp;
This goes to show that even though the Covid-19 pandemic has impacted everyone, women and girls continue to bear the&nbsp;worst of its consequences.&nbsp;&nbsp;

Jobs getting hit badly in the second wave, CMIE&nbsp;data shows that 10 million Indians lost their job because of Covid-19 second wave.&nbsp;Mahesh Vyas&nbsp;CEO of Centre for Monitoring Indian Economy (CMIE) told PTI&nbsp;that over 97%&nbsp;of households' incomes have declined since the beginning of the pandemic last year.
The unemployment rate is expected to soar to 12 per cent at the end of May as against 8 per cent in April as per the think tank.&nbsp;Unemployment rate had touched a record high of 23.5% in May 2020 because of the national lockdown.

Hit by second wave, 1 crore Indians left jobless

Hit by second wave, 1 crore Indians left jobless as unemployment set to soar to 12%

Jobs getting hit badly in the second wave, CMIE&nbsp;data shows that 10 million Indians lost their job because of Covid-19 second wave.&nbsp; Mahesh Vyas&nbsp;CEO of Centre for Monitoring Indian Economy (CMIE) told PTI&nbsp;that over 97%&nbsp;of households' incomes have declined since the beginning of the pandemic last year.
The unemployment rate is expected to soar to 12 per cent at the end of May as against 8 per cent in April as per the think tank.&nbsp;Unemployment rate had touched a record high of 23.5% in May 2020 because of the national lockdown.

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