Job Loss

Stellantis is now searching for a new chief executive with a daunting to-do list

Axis Bank spent nearly two years on so-called 'hyperpersonalization' for its app, which includes nudges for customers when their salaries get deposited or when bills come due, its digital head said

India's diamond sector is facing a severe crisis as both imports and exports have sharply declined in the past three years, which has triggered defaults, factory closures, and widespread job losses, think tank GTRI said on Wednesday. It said that while export returns have surged, a large inventory of unprocessed rough diamonds is piling up due to reduced orders and growing competition from lab-grown diamonds. "This has triggered defaults, factory closures, and widespread job losses. Tragically, more than 60 people in Gujarat's diamond sector have committed suicide, reflecting the severe financial and emotional strain India's diamond sector is facing," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He said that immediate action is essential to address these problems and safeguard the future of the sector. According to the think tank data, a 24.5 per cent drop in rough diamond imports from USD 18.5 billion in 2021-22 to USD 14 billion in 2023-024 shows weaker

Imagine a customer-service center that speaks your language, no matter what it is. Alorica, a company in Irvine, California, that runs customer-service centres around the world, has introduced an artificial intelligence translation tool that lets its representatives talk with customers who speak 200 different languages and 75 dialects. So an Alorica representative who speaks, say, only Spanish can field a complaint about a balky printer or an incorrect bank statement from a Cantonese speaker in Hong Kong. Alorica wouldn't need to hire a rep who speaks Cantonese. Such is the power of AI. And, potentially, the threat: Perhaps companies won't need as many employees and will slash some jobs if chatbots can handle the workload instead. But the thing is, Alorica isn't cutting jobs. It's still hiring aggressively. The experience at Alorica and at other companies, including furniture retailer IKEA suggests that AI may not prove to be the job killer that many people fear. Instead, the

Around 92 per cent of Indian industry leaders believe that AI is fundamentally altering everything they know about CX, according to the Zendesk study

The full year 2023 saw a staggering 16,398 layoffs, according to layoffs tracking platform Layoffs.fyi

India has seen 15-20% drop in entry-level tech jobs, potentially linked to AI automation

On average, at least 45 people lost their jobs daily based on data collated by the website. This is 15.3 per cent higher than the 14,224 layoffs recorded in the previous year

India won't experience any job losses in coal-dependent regions as it transitions towards renewable energy, provided the country designs its systems correctly, says Ajay Mathur, Director-General of the International Solar Alliance (ISA). In an interview with PTI, Mathur also said energy security remains a driving force, especially in view of the Russia-Ukraine war impacting traditional energy sources. While India doesn't intend to fully eliminate coal, the sole dependable energy source in the nation, there is a target to diminish coal's contribution from the existing 50 per cent in the energy mix to around 30 per cent and have 500 gigawatts (GW) of renewable energy capacity by 2030. Addressing concerns about loss of jobs as India moves away from coal, Mathur, who has also been a member of the Indian Prime Minister's Council on Climate Change, said the renewable sector holds promise for employment generation, particularly at the user level. "We need far more trained electricians who

Quick-commerce player Dunzo is struggling not only with financial losses but also with keeping its operations afloat

The Automotive sector announced 8,308 job cuts last month for a total of 18,017 this year, a 235 per cent increase from the 5,380 cuts announced in the same period last year

Globally, 683 companies laid off 194,659 workers in 2023. This is already 18 per cent more than the 164,591 seen in 2022

Many clerical or secretarial roles are seen as likely to decline quickly because of AI, according to the WEF report

The threat perception of job loss due to artificial intelligence is higher among technology-inclined students compared to working professionals, a survey by Digit Research Lab said on Friday. Most of the respondents in the survey believe that their career progression will be hindered if they do not acquire skills in artificial intelligence (AI). The survey was conducted among 3,050 respondents, comprising young professionals in the technology space and students with an interest in technology, between March 24 and April 10. "The survey also revealed that 59 per cent of Indians perceive AI as a combination of both opportunities and threats, with 11 per cent seeing it as a significant threat that could lead to job displacement and increased competition. The perceived threat level is even higher among students, at 40 per cent, compared to working professionals at 36 per cent," the Digit survey said. The survey found that 67 per cent of participants were highly familiar with generative

The losses include more than 1,000 positions at a warehouse in Fort Worth

With the latest move, Meta expects expenses in 2023 to come in between $86 billion and $92 billion, lower than the $89 billion to $95 billion forecast previously

The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date

Retailers, second after tech, cut 13,000 positions in January, compared with virtually no layoffs a year earlier

The company said it's grappling with inflation in areas such as wages and benefits, countering the benefit from a decline in raw material costs

3M shares dropped as much as 4.7% before the start of regular trading in New York