Japan, known for its rigorous work culture, is attempting to address a pressing labour shortage by promoting a four-day workweek. However, since the government endorsed the idea in 2021, progress has been slow.

Why Japan’s 4-day workweek isn’t catching on? | World Business Watch | WION News

Climate change is a real danger. However, there is some good news now... A new report from the department of energy shows that clean energy jobs in the united states jumped by more than double the rate of overall employment since last year.

Clean energy jobs rose by 4.2% compared to last year | World Business Watch | WION News

The year 2023 was the year of mass layoffs and it looks like 2024 will be a tough year for the working class, especially the IT industry. The trend of drop Cuts is showing no signs of slowing.

What does the recent wave of tech layoffs mean?

LinkedIn co-founder Reid Hoffman who previously predicted the social media wave, the growth of sharing economy and the AI revolution, is now predicting the end of traditional 9-to-5 jobs by 2034. Hoffman believes gig economy will replace traditional jobs. What does this mean for you and your financial stability?

Gravitas: LinkedIn co-founder predicts the end of 9-to-5 jobs

Recent data from Shenzhen has underscored growing concerns over China's employment landscape, particularly in its key economic hubs. The Southern Megacity, known for its vibrant tech industry and dynamic business environment, experienced a sharp increase in newly registered unemployed residents.

China's tech hub grapples with job losses

Disappointment turned to anger for two sisters Parvathi and Janaki in their 20s, as they approached the entrance of the Foxconn iPhone factory in southern India.&nbsp;

After coming across a job opening advertisement on WhatsApp, they arrived for interviews in March 2023, hopeful for new opportunities.&nbsp;

However, their ambitions were halted at the gate by a security guard's discriminatory question, "Are you married?"

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"We did not get the jobs as we both are married," Parvathi said in an interview at her village shanty.

“Disappointingly, even the auto-rickshaw driver who brought us here said, they wouldn't hire married women. Despite that, we held onto hope and decided to try anyway."

According to a Reuters investigation, Foxconn has analytically excluded married women from jobs at its main India iPhone assembly plant, on basis they have more family responsibilities than their unmarried counterparts.

S. Paul, a former human-resources executive at Foxconn India, said company relies on Indian recruitment agencies to find potential employees. These agencies are briefed verbally by Foxconn on the company's hiring criteria. This includes the initial candidate scouting, interview scheduling, and ultimately the hiring decisions. &nbsp;

Foxconn usually doesn't hire married women because of cultural issues and societal pressures, said Paul, who said he left the company in August 2023 for a better-paying role at a consulting firm.

The company's vision was that there were issues with women employees post-marriage, Paul added. “Among them were&nbsp;women have babies after marriage. Risk factors increase when you hire married women," he said.

Paul's account was confirmed by 17 employees from over a dozen Foxconn hiring agencies in India, and four current and ex-Foxconn HR executives.&nbsp;

Agents and company HR sources cited reasons such as family duties, pregnancy, and higher absenteeism to justify excluding them.&nbsp;

Additionally, many of these people also claimed jewellery worn by married Hindu women could interfere with production.

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The ban isn't permanent. Three former Foxconn HR executives told Reuters that the Taiwan-headquartered manufacturer relaxes the practice of not hiring married women during high-production periods when it sometimes faces labour shortages.

In certain cases, hiring agencies also help female candidates conceal their marital status to secure jobs, Reuters found.

However, in response to questions from Reuters, Apple and Foxconn acknowledged lapses in hiring practices in 2022 and said they had worked to address the issues.&nbsp;

All the discriminatory practices documented by Reuters at the Sriperumbudur plant in Chennai, however, took place in 2023 and 2024. The companies didn't address those instances.&nbsp;

Though Indian law doesn't bar companies from discriminating in hiring based on marital status, Apple's and Foxconn's policies prohibit such practice in their supply chains.

Apple told Reuters it upholds the "highest supply chain standards in the industry," and noted that Foxconn employs some married women in India.

"When apprehension about hiring practices were first raised in 2022 we immediately took action and worked with our supplier to conduct monthly audits to identify issues and ensure that our high standards are upheld," Apple said in a statement.&nbsp;

However, Foxconn said it "vigorously refutes allegations of employment discrimination based on marital status, gender, religion or any other form."

(With inputs from agencies)

Disappointment turned to anger for two sisters Parvathi and Janaki in their 20s, as they approached the entrance of the Foxconn iPhone factory in southern India.

Disappointment turned to anger for two sisters Parvathi and Janaki in their 20s, as they approached the entrance of the Foxconn iPhone factory in southern India. After coming across a job opening advertisement on WhatsApp, they arrived for interviews in March 2023, hopeful for new opportunities. However, their ambitions were halted at the gate by a security guard's discriminatory question, "Are you married?" Also read: Indian American motel manager Hemant Mistry punched to death in Oklahoma, suspect arrested | Video "We did not get the jobs as we both are married," Parvathi said in an interview at her village shanty. “Disappointingly, even the auto-rickshaw driver who brought us here said, they wouldn't hire married women. Despite that, we held onto hope and decided to try anyway." According to a Reuters investigation, Foxconn has analytically excluded married women from jobs at its main India iPhone assembly plant, on basis they have more family responsibilities than their unmarried counterparts. S. Paul, a former human-resources executive at Foxconn India, said company relies on Indian recruitment agencies to find potential employees. These agencies are briefed verbally by Foxconn on the company's hiring criteria. This includes the initial candidate scouting, interview scheduling, and ultimately the hiring decisions. Foxconn usually doesn't hire married women because of cultural issues and societal pressures, said Paul, who said he left the company in August 2023 for a better-paying role at a consulting firm. The company's vision was that there were issues with women employees post-marriage, Paul added. “Among them were women have babies after marriage. Risk factors increase when you hire married women," he said. Paul's account was confirmed by 17 employees from over a dozen Foxconn hiring agencies in India, and four current and ex-Foxconn HR executives. Agents and company HR sources cited reasons such as family duties, pregnancy, and higher absenteeism to justify excluding them. Additionally, many of these people also claimed jewellery worn by married Hindu women could interfere with production. Also read: Trudeau's debacle in Canada raises questions about his 'political longevity' The ban isn't permanent. Three former Foxconn HR executives told Reuters that the Taiwan-headquartered manufacturer relaxes the practice of not hiring married women during high-production periods when it sometimes faces labour shortages. In certain cases, hiring agencies also help female candidates conceal their marital status to secure jobs, Reuters found. However, in response to questions from Reuters, Apple and Foxconn acknowledged lapses in hiring practices in 2022 and said they had worked to address the issues. All the discriminatory practices documented by Reuters at the Sriperumbudur plant in Chennai, however, took place in 2023 and 2024. The companies didn't address those instances. Though Indian law doesn't bar companies from discriminating in hiring based on marital status, Apple's and Foxconn's policies prohibit such practice in their supply chains. Apple told Reuters it upholds the "highest supply chain standards in the industry," and noted that Foxconn employs some married women in India. "When apprehension about hiring practices were first raised in 2022 we immediately took action and worked with our supplier to conduct monthly audits to identify issues and ensure that our high standards are upheld," Apple said in a statement. However, Foxconn said it "vigorously refutes allegations of employment discrimination based on marital status, gender, religion or any other form." (With inputs from agencies)

Foxconn factory in India accused of denying jobs to married women: Report

The rising trend of ghost jobs has gained significant attention after a social media user shared a personal anecdote. These are jobs that a company advertises about but has no intention of filling. Watch in for more details!

The rise of 'ghost jobs' | Why companies post ghost jobs

While unemployment reports paint a concerning picture, a fascinating trend is emerging in India's job market. Data from the government's National Career Service (NCS) portal for the fiscal year 2023-24 reveals a surge in job openings.

Data reveals surge in job openings on India’s national job portal

A job advertisement from a Chinese grocery store which was looking for cashiers aged 18 to 30 sparked an outcry on social media from many older people still trying to find a job in a sluggish economy. In China, many millennial workers fear that they have succumbed to the “curse of 35".

<h2>About the advertisement&nbsp;</h2>

The user who posted a picture of the ad seeking cashiers garnered more than 140 million views and 41,000 comments on the social media platform Weibo, many of which were emotional. “It’s not easy,” said one user, according to Reuters.&nbsp;

“I am 33 this year and have been looking for a job for three years,” said another user.&nbsp;

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“I’ve been laid off three times since I graduated. Now, no one has replied to my resume even if I (write) I am unmarried and do not have a child,” another user wrote who said they were 29.&nbsp;

<h2>‘Curse of 35’</h2>

Many users also made references to what is now becoming widely referred to as the “Curse of 35”. The term was originally coined on Chinese social media and is used to describe rumoured layoffs of older workers by major tech companies.&nbsp;

There is no specific law against age discrimination, though state media last year criticised employers for “discriminatory” hiring practices, including those who looked for younger and cheaper workers.&nbsp;

However, this discrimination can even be seen in the Chinese government which rules out candidates above 35 for many of its civil servant positions, reported CNN.&nbsp;

Also Read |<a href="https://www.wionews.com/world/uk-to-give-details-of-cyber-security-threat-it-says-is-posed-by-china-704027">&nbsp;UK to give details of cyber security threat it says is posed by China</a>

“Was it difficult to find a job when you were over 35 before?” asked another Weibo user, adding “Now it’s 30 years old.”&nbsp;

“At the same time, the retirement age has to be delayed. So what are you going to do in between?” the user said.&nbsp;

This comes as the Chinese government prepared to raise the retirement age in phases as the population ages, the state media had reported, but no specific plans have been announced to do so yet.&nbsp;

(With inputs from agencies) 
&nbsp;

A job advertisement from a Chinese grocery store which was looking for cashiers aged 18 to 30 sparked an outcry on social media from many older people still trying to find a job in a sluggish economy.

A job advertisement from a Chinese grocery store which was looking for cashiers aged 18 to 30 sparked an outcry on social media from many older people still trying to find a job in a sluggish economy. In China, many millennial workers fear that they have succumbed to the “curse of 35". About the advertisement The user who posted a picture of the ad seeking cashiers garnered more than 140 million views and 41,000 comments on the social media platform Weibo, many of which were emotional. “It’s not easy,” said one user, according to Reuters. “I am 33 this year and have been looking for a job for three years,” said another user. Also Read | 'Overwhelmed' by kindness: Big-hearted Canadian man rescues 300 cats. Here's their heartwarming story “I’ve been laid off three times since I graduated. Now, no one has replied to my resume even if I (write) I am unmarried and do not have a child,” another user wrote who said they were 29. ‘Curse of 35’ Many users also made references to what is now becoming widely referred to as the “Curse of 35”. The term was originally coined on Chinese social media and is used to describe rumoured layoffs of older workers by major tech companies. There is no specific law against age discrimination, though state media last year criticised employers for “discriminatory” hiring practices, including those who looked for younger and cheaper workers. However, this discrimination can even be seen in the Chinese government which rules out candidates above 35 for many of its civil servant positions, reported CNN. Also Read | UK to give details of cyber security threat it says is posed by China “Was it difficult to find a job when you were over 35 before?” asked another Weibo user, adding “Now it’s 30 years old.” “At the same time, the retirement age has to be delayed. So what are you going to do in between?” the user said. This comes as the Chinese government prepared to raise the retirement age in phases as the population ages, the state media had reported, but no specific plans have been announced to do so yet. (With inputs from agencies)

Chinese ad looking for people under 30 sparks outcry from older job seekers

The Indian job market is surging ahead, leaving its global counterparts in the dust. According to a recent ManpowerGroup Employment Outlook Survey, 36 per cent&nbsp;of Indian employers plan to add new staff in the upcoming April-June quarter. This translates to the highest Net Employment Outlook (NEO) – a key indicator of hiring intentions – &nbsp;among 42 surveyed countries, surpassing major economies like the United States and China.

The survey reveals a surge in hiring intentions across various sectors. Healthcare and Life Sciences are at the forefront, with 44 per cent&nbsp;of companies planning to expand their workforce. This aligns perfectly with India's growing focus on healthcare infrastructure and advancements in medical research. The demand for skilled professionals in Communication Services (43 per cent) and Information Technology (41 per cent) remains equally strong.

This positive outlook extends beyond blue-collar jobs and permeates the white-collar sector as well. Naukri's Hiring Outlook Survey reveals that 92 per cent&nbsp;of recruiters anticipate new or replacement hiring in the first half of 2024, signifying a strong demand for skilled professionals.

The tech sector, a cornerstone of the Indian economy, is witnessing an interesting shift. While tech roles remain in high demand, the survey suggests a growing focus on filling such positions within non-tech sectors. This trend highlights the increasing integration of technology across diverse industries, requiring a skilled workforce that can bridge the gap.

The prediction of low attrition rates bolsters the positive hiring sentiment. 75 per cent&nbsp;of recruiters expect attrition to stay below 15 per cent&nbsp;in the first half of 2024. This stability in the workforce can be attributed to a cautious global economic climate, prompting employees to hold onto their jobs for greater security.

With a robust job market and high demand for talent, salary increases are likely on the horizon. A significant 67 per cent&nbsp;of recruiters forecast increments between 5-15 per cent&nbsp;in the upcoming appraisal cycle.

As India continues on this growth trajectory, it will be fascinating to see how this translates into long-term economic prosperity and a skilled workforce that can propel the nation further.

The Indian job market is surging ahead, leaving its global counterparts in the dust. According to a recent ManpowerGroup Employment Outlook Survey, 36 per cent of Indian employers plan to add new staff in the upcoming April-June quarter.

The Indian job market is surging ahead, leaving its global counterparts in the dust. According to a recent ManpowerGroup Employment Outlook Survey, 36 per cent of Indian employers plan to add new staff in the upcoming April-June quarter. This translates to the highest Net Employment Outlook (NEO) – a key indicator of hiring intentions – among 42 surveyed countries, surpassing major economies like the United States and China. The survey reveals a surge in hiring intentions across various sectors. Healthcare and Life Sciences are at the forefront, with 44 per cent of companies planning to expand their workforce. This aligns perfectly with India's growing focus on healthcare infrastructure and advancements in medical research. The demand for skilled professionals in Communication Services (43 per cent) and Information Technology (41 per cent) remains equally strong. This positive outlook extends beyond blue-collar jobs and permeates the white-collar sector as well. Naukri's Hiring Outlook Survey reveals that 92 per cent of recruiters anticipate new or replacement hiring in the first half of 2024, signifying a strong demand for skilled professionals. The tech sector, a cornerstone of the Indian economy, is witnessing an interesting shift. While tech roles remain in high demand, the survey suggests a growing focus on filling such positions within non-tech sectors. This trend highlights the increasing integration of technology across diverse industries, requiring a skilled workforce that can bridge the gap. The prediction of low attrition rates bolsters the positive hiring sentiment. 75 per cent of recruiters expect attrition to stay below 15 per cent in the first half of 2024. This stability in the workforce can be attributed to a cautious global economic climate, prompting employees to hold onto their jobs for greater security. With a robust job market and high demand for talent, salary increases are likely on the horizon. A significant 67 per cent of recruiters forecast increments between 5-15 per cent in the upcoming appraisal cycle. As India continues on this growth trajectory, it will be fascinating to see how this translates into long-term economic prosperity and a skilled workforce that can propel the nation further.

India: A global leader in hiring?

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LinkedIn, the professional social network owned by Microsoft has reported that&nbsp;its premium subscription business has reached $1.7 billion in revenue for the year 2023.

This revenue surge comes as LinkedIn experienced a surge in the adoption of new artificial intelligence tools, signalling a move to enhance user experience and capitalise on evolving market needs.
</div>

Over the past year, LinkedIn has actively expanded its premium subscription service, catering to individual users, including job seekers, with plans starting at $39.99 per month.

An important aspect of this expansion was the introduction of AI features, enabling subscribers to leverage sophisticated tools.

According to a Times of India (TOI) report, these tools include the ability to analyse job postings, suggest job suitability based on resumes, optimise profiles for recruiters and even automatically generate messages for job applications.

Dan Shapero, LinkedIn's Chief Operating Officer, shared insights into the platform's growth, indicating a 25 per cent increase in premium subscribers during 2023.

While specific subscriber numbers were not disclosed, Shapero highlighted that 70 per cent of subscribers with access to the new AI tools actively utilised them, with 90 per cent finding the tools beneficial.

The surge in user engagement reflects a keen interest in the enhanced features offered by LinkedIn, especially amid a dynamic job market.

In an interview, Shapero acknowledged the uncertainty in the broader economy, leading individuals to take proactive steps to secure desirable job opportunities.

Despite the tight labour market in the US, LinkedIn's data suggests a nuanced landscape, with two applicants for every job.

Shapero highlighted the need to provide users with the tools to secure the best possible positions amid economic uncertainties.

Since its acquisition by Microsoft in 2016, LinkedIn has been a key player in the tech giant's portfolio.

According to TOI, Microsoft's influence has been notable, with LinkedIn previously disclosing a total revenue of $15 billion for fiscal year 2023, including $7 billion from hiring software sold to corporate recruiters.

While LinkedIn has showcased growth and innovation, it faced challenges in the form of layoffs.

In 2023, the platform laid off around 1,400 employees in two rounds, citing a need to "re-organise for greater agility and growth."

Despite these challenges, LinkedIn's strategic focus on premium subscriptions and AI tools has proven successful, contributing to its impressive financial performance in 2023.

(With inputs from Reuters)
</div>

LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023.

LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023. This revenue surge comes as LinkedIn experienced a surge in the adoption of new artificial intelligence tools, signalling a move to enhance user experience and capitalise on evolving market needs. Over the past year, LinkedIn has actively expanded its premium subscription service, catering to individual users, including job seekers, with plans starting at $39.99 per month. An important aspect of this expansion was the introduction of AI features, enabling subscribers to leverage sophisticated tools. According to a Times of India (TOI) report, these tools include the ability to analyse job postings, suggest job suitability based on resumes, optimise profiles for recruiters and even automatically generate messages for job applications. Dan Shapero, LinkedIn's Chief Operating Officer, shared insights into the platform's growth, indicating a 25 per cent increase in premium subscribers during 2023. While specific subscriber numbers were not disclosed, Shapero highlighted that 70 per cent of subscribers with access to the new AI tools actively utilised them, with 90 per cent finding the tools beneficial. The surge in user engagement reflects a keen interest in the enhanced features offered by LinkedIn, especially amid a dynamic job market. In an interview, Shapero acknowledged the uncertainty in the broader economy, leading individuals to take proactive steps to secure desirable job opportunities. Despite the tight labour market in the US, LinkedIn's data suggests a nuanced landscape, with two applicants for every job. Shapero highlighted the need to provide users with the tools to secure the best possible positions amid economic uncertainties. Since its acquisition by Microsoft in 2016, LinkedIn has been a key player in the tech giant's portfolio. According to TOI, Microsoft's influence has been notable, with LinkedIn previously disclosing a total revenue of $15 billion for fiscal year 2023, including $7 billion from hiring software sold to corporate recruiters. While LinkedIn has showcased growth and innovation, it faced challenges in the form of layoffs. In 2023, the platform laid off around 1,400 employees in two rounds, citing a need to "re-organise for greater agility and growth." Despite these challenges, LinkedIn's strategic focus on premium subscriptions and AI tools has proven successful, contributing to its impressive financial performance in 2023. (With inputs from Reuters)

LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details

Landing that first job just got tougher for fresh graduates entering the workforce today.

A recent report by Indeed, paints a sobering picture, revealing a&nbsp;downward spiral in entry-level hiring since 2021.

The data indicates several new troubles&nbsp;for fresh graduates.

Shrinking opportunities

Fresher job postings have&nbsp;dropped 8.5 per cent since December 2021,&nbsp;and applications (job clicks) have&nbsp;plummeted by 34.3 per cent.&nbsp;This translates to fewer opportunities available in the job market.

Waning enthusiasm

Graduates themselves seem less eager,&nbsp;with demand for entry-level roles&nbsp;dipping 37.4 per cent year-on-year.&nbsp;

This decline in interest could be due to several factors,&nbsp;including hesitation to enter a volatile job market,&nbsp;skill mismatch with evolving tech landscapes,&nbsp;or differing salary expectations.

Economic instability

Global economic uncertainties and market fluctuations in the main culprit behind this double whammy.

With high economic instability, companies are&nbsp;adopting a cautious approach, holding off on large-scale fresher hiring until the outlook clears.

This is particularly evident in the tech sector, where companies are re-evaluating their recruitment strategies amidst dynamic market shifts, leading to a noticeable reduction in campus hiring initiatives.

Hope on the horizon

While the report sounds concerning, there are silver linings.

Sashi Kumar, Head of Sales at Indeed India, clarifies, "This doesn't mean fresher hiring is at a standstill. Other areas like admin, sales, marketing, etc., continue to have opportunities for new graduates."

He attributes the current cautiousness to companies waiting to see how the next few quarters pan out before committing to large-scale hiring.

Where are the jobs?

The report identifies specific sectors still actively seeking fresh talent:

Admin:&nbsp;Taking the lead with an 11.5 per cent share of fresher job postings.

Tech and Software:&nbsp;Despite the slowdown,&nbsp;still the second-largest recruiter.

Sales:&nbsp;Offering 6.39 per cent of entry-level opportunities.

Marketing:&nbsp;Accounting for 5.47 per cent of fresher job postings.

Management:&nbsp;With a 4.87 per cent share.

Sharpen your skills to stay ahead

While the job market might be cooling down, Kumar emphasises the importance of equipping oneself with relevant skills to stay competitive.

"As we observe the hiring landscape, it will be crucial for freshers to arm themselves with new-age digital skills that can be a competitive advantage as companies begin to hire again," he advises.

Landing that first job just got tougher for fresh graduates entering the workforce today. A recent report by Indeed, paints a sobering picture, revealing a downward spiral in entry-level hiring since 2021.

Landing that first job just got tougher for fresh graduates entering the workforce today. A recent report by Indeed, paints a sobering picture, revealing a downward spiral in entry-level hiring since 2021. The data indicates several new troubles for fresh graduates. Shrinking opportunities Fresher job postings have dropped 8.5 per cent since December 2021, and applications (job clicks) have plummeted by 34.3 per cent. This translates to fewer opportunities available in the job market. Waning enthusiasm Graduates themselves seem less eager, with demand for entry-level roles dipping 37.4 per cent year-on-year. This decline in interest could be due to several factors, including hesitation to enter a volatile job market, skill mismatch with evolving tech landscapes, or differing salary expectations. Economic instability Global economic uncertainties and market fluctuations in the main culprit behind this double whammy. With high economic instability, companies are adopting a cautious approach, holding off on large-scale fresher hiring until the outlook clears. This is particularly evident in the tech sector, where companies are re-evaluating their recruitment strategies amidst dynamic market shifts, leading to a noticeable reduction in campus hiring initiatives. Hope on the horizon While the report sounds concerning, there are silver linings. Sashi Kumar, Head of Sales at Indeed India, clarifies, "This doesn't mean fresher hiring is at a standstill. Other areas like admin, sales, marketing, etc., continue to have opportunities for new graduates." He attributes the current cautiousness to companies waiting to see how the next few quarters pan out before committing to large-scale hiring. Where are the jobs? The report identifies specific sectors still actively seeking fresh talent: Admin: Taking the lead with an 11.5 per cent share of fresher job postings. Tech and Software: Despite the slowdown, still the second-largest recruiter. Sales: Offering 6.39 per cent of entry-level opportunities. Marketing: Accounting for 5.47 per cent of fresher job postings. Management: With a 4.87 per cent share. Sharpen your skills to stay ahead While the job market might be cooling down, Kumar emphasises the importance of equipping oneself with relevant skills to stay competitive. "As we observe the hiring landscape, it will be crucial for freshers to arm themselves with new-age digital skills that can be a competitive advantage as companies begin to hire again," he advises.

Fresh Grad Blues: Entry-level hiring slumps as economic woes bite, says report

<o:p></o:p>

In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce. <o:p></o:p>

According to Reuters, this decision comes as the company adjusts to a tough economic landscape that has prompted numerous layoffs across the tech sector this year. <o:p></o:p>

Following the announcement, Cisco's shares experienced a decline of over 5 per cent in extended trading. <o:p></o:p>

Additionally, the company revised its annual revenue target, lowering it to a range between $51.5 billion and $52.5 billion, down from the previously projected $53.8 billion to $55 billion.<o:p></o:p>

Cisco CEO Charles Robbins acknowledged the challenging market conditions, stating, "We also continue to see weak demand with our telco and cable service provider customers." <o:p></o:p>

The telecom industry's spending constraints have been a contributing factor to the subdued demand for Cisco's products. <o:p></o:p>

Analysts anticipate continued pressure on the demand for networking gear as clients in the telecom sector prioritize reducing excess inventory. <o:p></o:p>

Joe Brunetto, an analyst at Third Bridge, predicts that the networking hardware inventory buildup will likely resolve in the second half of 2024 or early 2025.<o:p></o:p>

Despite the current challenges, Cisco is strategically positioning itself for growth by focusing on artificial intelligence and forming partnerships. <o:p></o:p>

CEO Robbins highlighted a collaboration with Nvidia, where the latter agreed to use Cisco's ethernet alongside its own technology, widely utilised in data centres and AI applications.<o:p></o:p>

This move aims to bolster Cisco's growth prospects amid a shifting market landscape. <o:p></o:p>

The company's third-quarter revenue projection, however, falls below estimates, ranging between $12.1 billion and $12.3 billion, compared to the anticipated $13.1 billion according to LSEG data.<o:p></o:p>

Cisco, with its current workforce of 85,000 employees, had earlier hinted at impending layoffs and restructuring to redirect its focus towards high-growth areas. <o:p></o:p>

The job cuts will result in an $800 million charge before tax, covering severance and other related costs. <o:p></o:p>

The majority of these charges are expected to be recognized in the first half of fiscal 2025. <o:p></o:p>

In the second quarter, Cisco reported an adjusted profit of 87 cents per share and revenue of $12.79 billion, surpassing LSEG estimates.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce.

In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce. According to Reuters, this decision comes as the company adjusts to a tough economic landscape that has prompted numerous layoffs across the tech sector this year. Following the announcement, Cisco's shares experienced a decline of over 5 per cent in extended trading. Additionally, the company revised its annual revenue target, lowering it to a range between $51.5 billion and $52.5 billion, down from the previously projected $53.8 billion to $55 billion. Cisco CEO Charles Robbins acknowledged the challenging market conditions, stating, "We also continue to see weak demand with our telco and cable service provider customers." The telecom industry's spending constraints have been a contributing factor to the subdued demand for Cisco's products. Analysts anticipate continued pressure on the demand for networking gear as clients in the telecom sector prioritize reducing excess inventory. Joe Brunetto, an analyst at Third Bridge, predicts that the networking hardware inventory buildup will likely resolve in the second half of 2024 or early 2025. Despite the current challenges, Cisco is strategically positioning itself for growth by focusing on artificial intelligence and forming partnerships. CEO Robbins highlighted a collaboration with Nvidia, where the latter agreed to use Cisco's ethernet alongside its own technology, widely utilised in data centres and AI applications. This move aims to bolster Cisco's growth prospects amid a shifting market landscape. The company's third-quarter revenue projection, however, falls below estimates, ranging between $12.1 billion and $12.3 billion, compared to the anticipated $13.1 billion according to LSEG data. Cisco, with its current workforce of 85,000 employees, had earlier hinted at impending layoffs and restructuring to redirect its focus towards high-growth areas. The job cuts will result in an $800 million charge before tax, covering severance and other related costs. The majority of these charges are expected to be recognized in the first half of fiscal 2025. In the second quarter, Cisco reported an adjusted profit of 87 cents per share and revenue of $12.79 billion, surpassing LSEG estimates. (With inputs from Reuters)

Cisco announces job cuts and revenue forecast slash amid economic challenges

In today's ever-evolving professional landscape, it's not just about technical prowess— it's about mastering the art of soft skills. Our report delves in the top 10 in-demand soft skills for 2024, empowering you to thrive in your career, lead with impact, and seize endless opportunities.

How acquiring these skills will help your career

Snapchat's parent company Snap has decided to lay off 10% of its global workforce. This comes after Amazon, Microsoft, Flipkart, and other tech companies announced they would be firing workers. Reports say 32,000 techies have lost their jobs so far this year. Is Artificial Intelligence to be blamed?

Gravitas | Big Tech Lay-offs: Artificial Intelligence to be blamed?

A recent report by outplacement firm Challenger, Gray &amp; Christmas reveals that job cut announcements in the United States skyrocketed in January, reaching the highest level in a decade. The data indicates a 136 per cent surge from December, with announced layoffs totalling 82,307. This unsettling spike marks the most substantial monthly increase since March 2023.<o:p></o:p>

While on a yearly basis, the report presents a 20 per cent decline in announced job cuts compared to January 2023, the financial and technology sectors witnessed a drastic rise. Employers in the financial industry announced a significant 23,238 job cuts, more than doubling the figures from the previous year. <o:p></o:p>

According to Andrew Challenger, Senior Vice President of Challenger, Gray &amp; Christmas, Inc., the surge is attributed to a combination of factors. <o:p></o:p>

He notes, "It is also an election year, and companies begin to plan for potential policy changes that may impact their industries. However, these layoffs are also driven by broader economic trends and a strategic shift towards increased automation and AI adoption in various sectors, though in most cases, companies point to cost-cutting as the main driver for layoffs."<o:p></o:p>

The report indicates that the financial and technology sectors were the hardest hit, with employers frequently citing "restructuring" and the closure of plants, units, or stores as the primary reasons for layoffs. Notably, the earnings reporting season in January witnessed several prominent companies, including United Parcel Service, unveiling plans to shed jobs.<o:p></o:p>

The technology giants Amazon, Alphabet, and Microsoft also announced job reductions, aligning with a broader trend in the sector. A memo published on January 30 by digital payment heavyweight PayPal Holdings Inc. disclosed a 9 per cent cut in its workforce, with President and CEO Alex Chriss emphasizing the company's priority to "right-size."<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

A recent report by outplacement firm Challenger, Gray & Christmas reveals that job cut announcements in the United States skyrocketed in January, reaching the highest level in a decade.

A recent report by outplacement firm Challenger, Gray & Christmas reveals that job cut announcements in the United States skyrocketed in January, reaching the highest level in a decade. The data indicates a 136 per cent surge from December, with announced layoffs totalling 82,307. This unsettling spike marks the most substantial monthly increase since March 2023. While on a yearly basis, the report presents a 20 per cent decline in announced job cuts compared to January 2023, the financial and technology sectors witnessed a drastic rise. Employers in the financial industry announced a significant 23,238 job cuts, more than doubling the figures from the previous year. According to Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc., the surge is attributed to a combination of factors. He notes, "It is also an election year, and companies begin to plan for potential policy changes that may impact their industries. However, these layoffs are also driven by broader economic trends and a strategic shift towards increased automation and AI adoption in various sectors, though in most cases, companies point to cost-cutting as the main driver for layoffs." The report indicates that the financial and technology sectors were the hardest hit, with employers frequently citing "restructuring" and the closure of plants, units, or stores as the primary reasons for layoffs. Notably, the earnings reporting season in January witnessed several prominent companies, including United Parcel Service, unveiling plans to shed jobs. The technology giants Amazon, Alphabet, and Microsoft also announced job reductions, aligning with a broader trend in the sector. A memo published on January 30 by digital payment heavyweight PayPal Holdings Inc. disclosed a 9 per cent cut in its workforce, with President and CEO Alex Chriss emphasizing the company's priority to "right-size." (With inputs from Reuters)

US job cuts soar in January, financial and tech sectors hit hard: Report

Russia has created more than half a million new jobs in its defence sector to meet soaring demand on the battlefield, President Vladimir Putin said on Friday (Feb 2).

The Kremlin has thrown massive resources at its full-scale assault on Ukraine, with the defence sector accounting for much of the sanction-hit economy's growth.

"In the last year and a half alone, 520,000 new jobs have been created in defence," Putin told a political forum with defence workers in the western city of Tula.

"In order to be successful on the battlefield today, it is necessary to react quickly and adequately to what is happening there," Putin said.

"So whoever does it all faster, wins," he said.

After months of combat that has failed to yield major territorial gains for either Russia or Ukraine, Moscow is throwing more manpower into the conflict and ramping up arms production.

Last year, it unveiled plans for a massive 68-per cent hike in spending on the military -- more than outlays for education, environmental protection and healthcare spending combined.

The spending increase has fuelled demand in Russia's economy, drawing workers away from labour-starved civilian industries and pushing up inflation.

Unemployment has fallen to a record low and several non-defence sectors have reported a chronic shortage of workers since Russia launched its military campaign against Ukraine almost two years ago.

&nbsp;

&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;

Russia has created more than half a million new jobs in its defence sector to meet soaring demand on the battlefield, President Vladimir Putin said on Friday (Feb 2).

Russia has created more than half a million new jobs in its defence sector to meet soaring demand on the battlefield, President Vladimir Putin said on Friday (Feb 2). The Kremlin has thrown massive resources at its full-scale assault on Ukraine, with the defence sector accounting for much of the sanction-hit economy's growth. "In the last year and a half alone, 520,000 new jobs have been created in defence," Putin told a political forum with defence workers in the western city of Tula. "In order to be successful on the battlefield today, it is necessary to react quickly and adequately to what is happening there," Putin said. "So whoever does it all faster, wins," he said. After months of combat that has failed to yield major territorial gains for either Russia or Ukraine, Moscow is throwing more manpower into the conflict and ramping up arms production. Last year, it unveiled plans for a massive 68-per cent hike in spending on the military -- more than outlays for education, environmental protection and healthcare spending combined. The spending increase has fuelled demand in Russia's economy, drawing workers away from labour-starved civilian industries and pushing up inflation. Unemployment has fallen to a record low and several non-defence sectors have reported a chronic shortage of workers since Russia launched its military campaign against Ukraine almost two years ago.

Russia creates 500K defense jobs amid rising battlefield demand, sending other sectors into a tailspin

A report by the center for Monitoring the Indian Economy highlights the significant disparity between women's enrollment in schools and their representation in the workforce. The report shows that only 10% of working-age Indian women were either employed or actively seeking jobs in 2022.

Only 10% of working-age Indian women engaged in the workforce: Report

Only 10% Indian women employed or seeking jobs

A recent survey by Indeed reveals that in 2023, a whopping 70 per cent of employees reported feeling happy and content at work. But that leaves another 30 per cent with some level of dissatisfaction. What makes the difference? And how can companies tap into the "joy at work" formula?&nbsp;

The Manager's Touch: A Key Ingredient&nbsp;

The survey points to a clear culprit for workplace blues: a lack of managerial involvement. A staggering 95 per cent of employees believe their manager holds the key to their happiness. &nbsp;

Rohan Sylvester, Talent Strategy Advisor at Indeed India, emphasises, "Data shows that prioritising employee happiness leads to better performance and engagement, ultimately driving business success." &nbsp;

The research further underscores the importance of supportive managers who offer guidance and encouragement. Employees also crave meaningful work that adds purpose to their daily work. Feeling like they're using their skills and facing challenges that lead to a sense of achievement are also crucial happiness boosters.&nbsp;

Beyond the Paycheck: The Perks of Purpose&nbsp;

While salary and benefits remain crucial, the survey reveals that employees value more than just the bottom line. A positive work culture and interactions are highly desired, along with alignment with the company's ideology and strategies, its vision for growth, and even its reputation.&nbsp;

Small, Medium, or Large: Happiness Hangs in the Balance&nbsp;

Interestingly, the survey finds that both small and large organisations have higher levels of happy employees, while medium-sized ones struggle slightly more. This suggests that focusing on building a strong company culture and nurturing individual growth might be key for mid-sized companies.&nbsp;

Work-Life Harmony: The Sweet Spot&nbsp;

The survey also highlights the importance of work flexibility. With the rise of remote work and hybrid models, offering employees control over their schedules can be a major happiness booster.&nbsp;

The Recipe for Workplace Joy: A Multi-Ingredient Approach&nbsp;

Creating a happy workplace isn't about a single magic bullet. It's about understanding that employee happiness is a complex dish with many ingredients. From supportive managers and meaningful work to a positive culture and opportunities for growth, companies that prioritise these elements are more likely to have employees who are not just content, but truly joyful at work.

A recent survey by Indeed reveals that in 2023, a whopping 70 per cent of employees reported feeling happy and content at work. But that leaves another 30 per cent with some level of dissatisfaction.

A recent survey by Indeed reveals that in 2023, a whopping 70 per cent of employees reported feeling happy and content at work. But that leaves another 30 per cent with some level of dissatisfaction. What makes the difference? And how can companies tap into the "joy at work" formula? The Manager's Touch: A Key Ingredient The survey points to a clear culprit for workplace blues: a lack of managerial involvement. A staggering 95 per cent of employees believe their manager holds the key to their happiness. Rohan Sylvester, Talent Strategy Advisor at Indeed India, emphasises, "Data shows that prioritising employee happiness leads to better performance and engagement, ultimately driving business success." The research further underscores the importance of supportive managers who offer guidance and encouragement. Employees also crave meaningful work that adds purpose to their daily work. Feeling like they're using their skills and facing challenges that lead to a sense of achievement are also crucial happiness boosters. Beyond the Paycheck: The Perks of Purpose While salary and benefits remain crucial, the survey reveals that employees value more than just the bottom line. A positive work culture and interactions are highly desired, along with alignment with the company's ideology and strategies, its vision for growth, and even its reputation. Small, Medium, or Large: Happiness Hangs in the Balance Interestingly, the survey finds that both small and large organisations have higher levels of happy employees, while medium-sized ones struggle slightly more. This suggests that focusing on building a strong company culture and nurturing individual growth might be key for mid-sized companies. Work-Life Harmony: The Sweet Spot The survey also highlights the importance of work flexibility. With the rise of remote work and hybrid models, offering employees control over their schedules can be a major happiness booster. The Recipe for Workplace Joy: A Multi-Ingredient Approach Creating a happy workplace isn't about a single magic bullet. It's about understanding that employee happiness is a complex dish with many ingredients. From supportive managers and meaningful work to a positive culture and opportunities for growth, companies that prioritise these elements are more likely to have employees who are not just content, but truly joyful at work.

70pc of India Inc. found joy at work in 2023, but here's what needs tuning 

Artificial Intelligence, as of now, is not capable of replacing humans in most of the jobs in a cost-efficient manner, a new study conducted by the Massachusetts Institute of Technology (MIT) has found. The study emerges amidst concerns that the rapid advancement of AI can potentially impact the livelihood of millions of job-seekers across the world.

The MIT study specifically focused on those jobs where computer vision was employed to assess whether AI can replace humans in an economically viable manner. Computer vision is a branch of Artificial Intelligence (AI) used for deriving meaningful information from digital images and other visual inputs, with its most ubiquitous applications observed in object detection systems for autonomous driving or in helping categorise photos on smartphones.&nbsp;

<h2>Only 23% of workers can be replaced: Study</h2>

The study revealed only 23 per cent of workers can be replaced by AI in a cost-effective manner, if measured in terms of dollar wages. AI-powered virtual recognition devices and systems are so expensive to install and maintain that humans might end up doing the job more economically.

Watch:&nbsp;Challenges &amp; opportunities in the retail renaissance with Gen AI

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“‘Machines will steal our jobs’ is a sentiment frequently expressed during times of rapid technological change. Such anxiety has re-emerged with the creation of large language models,” the researchers from MIT said in their 45-page paper titled ‘Beyond AI Exposure’. “We find that only 23% of worker compensation ‘exposed’ to AI computer vision would be cost-effective for firms to automate because of the large upfront costs of AI systems,” they concluded.

<h2>Sectors where the application of AI is economical</h2>

Computer vision's cost-benefit ratio shines brightest in sectors such as retail, transportation, and warehousing, notably dominated by Walmart Inc. and Amazon.com Inc. The potential extends to healthcare, according to MIT's paper. The authors suggest a more assertive AI deployment, especially through AI-as-a-service subscriptions, could enhance viability and broaden applications.

Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw138Gen--Br_SOFmz36oQ-j" data-ved="2ahUKEwjWqPzUoPODAxXYSmwGHZR6CpMQxfQBKAB6BAgHEAE" href="https://www.wionews.com/business-economy/ey-survey-unveils-gen-ai-trends-indian-retails-leap-into-the-future-682426" jsname="YKoRaf">EY survey unveils Gen AI trends: Indian retail`s leap into the future</a>

Funded by the MIT-IBM Watson AI Lab, the study, utilising online surveys, gathered data on around 1,000 visually-assisted tasks across 800 occupations. Presently, only 3 per cent of these tasks can be cost-effectively automated, but the researchers anticipate a potential increase to 40 per cent by 2030, contingent on falling data costs and improved accuracy.

<h2>IMF’s warning</h2>

The advent of advanced AI models like ChatGPT and its competitors like Google's Bard has raised concerns about massive job displacement, as these chatbots exhibit proficiency in tasks previously exclusive to humans. The International Monetary Fund cautioned last week that nearly 40 per cent of global jobs could be impacted, emphasising the need for policymakers to carefully balance AI's potential with potential negative consequences.

(With inputs from agencies)

Artificial Intelligence, as of now, is not capable of replacing humans in most of the jobs in a cost-efficient manner, a new study conducted by the Massachusetts Institute of Technology (MIT) has found.

Artificial Intelligence, as of now, is not capable of replacing humans in most of the jobs in a cost-efficient manner, a new study conducted by the Massachusetts Institute of Technology (MIT) has found. The study emerges amidst concerns that the rapid advancement of AI can potentially impact the livelihood of millions of job-seekers across the world. The MIT study specifically focused on those jobs where computer vision was employed to assess whether AI can replace humans in an economically viable manner. Computer vision is a branch of Artificial Intelligence (AI) used for deriving meaningful information from digital images and other visual inputs, with its most ubiquitous applications observed in object detection systems for autonomous driving or in helping categorise photos on smartphones. Only 23% of workers can be replaced: Study The study revealed only 23 per cent of workers can be replaced by AI in a cost-effective manner, if measured in terms of dollar wages. AI-powered virtual recognition devices and systems are so expensive to install and maintain that humans might end up doing the job more economically. Watch: Challenges & opportunities in the retail renaissance with Gen AI × “‘Machines will steal our jobs’ is a sentiment frequently expressed during times of rapid technological change. Such anxiety has re-emerged with the creation of large language models,” the researchers from MIT said in their 45-page paper titled ‘Beyond AI Exposure’. “We find that only 23% of worker compensation ‘exposed’ to AI computer vision would be cost-effective for firms to automate because of the large upfront costs of AI systems,” they concluded. Sectors where the application of AI is economical Computer vision's cost-benefit ratio shines brightest in sectors such as retail, transportation, and warehousing, notably dominated by Walmart Inc. and Amazon.com Inc. The potential extends to healthcare, according to MIT's paper. The authors suggest a more assertive AI deployment, especially through AI-as-a-service subscriptions, could enhance viability and broaden applications. Also read: EY survey unveils Gen AI trends: Indian retail`s leap into the future Funded by the MIT-IBM Watson AI Lab, the study, utilising online surveys, gathered data on around 1,000 visually-assisted tasks across 800 occupations. Presently, only 3 per cent of these tasks can be cost-effectively automated, but the researchers anticipate a potential increase to 40 per cent by 2030, contingent on falling data costs and improved accuracy. IMF’s warning The advent of advanced AI models like ChatGPT and its competitors like Google's Bard has raised concerns about massive job displacement, as these chatbots exhibit proficiency in tasks previously exclusive to humans. The International Monetary Fund cautioned last week that nearly 40 per cent of global jobs could be impacted, emphasising the need for policymakers to carefully balance AI's potential with potential negative consequences. (With inputs from agencies)

‘Too expensive,’ AI not capable of replacing humans in workplaces, study reveals

International Monetary Fund's Managing Director, Kristalina Georgieva, has highlighted the dual nature of artificial intelligence (AI) concerning job security globally. <o:p></o:p>

In an interview with Agence France-Presse, Georgieva expressed that AI is anticipated to impact 60 per cent of jobs in advanced economies, with around 40 per cent globally. <o:p></o:p>

Despite the perceived risks, Georgieva emphasised that AI presents a "tremendous opportunity" to enhance productivity levels and fuel global growth.<o:p></o:p>

Job displacement or enhancement: The AI dilemma<o:p></o:p>

Georgieva conveyed the nuanced impact of AI on employment, stating, "Your job may disappear altogether -- not good -- or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up." <o:p></o:p>

According to a new IMF report, only half of the jobs influenced by AI are expected to face negative consequences, while the remaining half might benefit from increased productivity due to AI integration into the workplace. <o:p></o:p>

The report suggests that higher-skilled jobs are likely to experience a more substantial impact.<o:p></o:p>

AI's uneven effects and global economic landscape<o:p></o:p>

The IMF report indicated that while labour markets in emerging and developing economies might initially experience a smaller impact from AI, they are also less likely to benefit from enhanced productivity gains. <o:p></o:p>

Georgieva stressed the importance of focusing on assisting low-income countries in adapting quickly to seize the opportunities presented by AI. <o:p></o:p>

As the IMF prepares to release updated economic forecasts later this month, Georgieva expressed optimism about the global economy, noting that it is on track to meet previous forecasts but cautioned that challenges remain in achieving a balanced monetary policy.<o:p></o:p>

AI's role in global productivity and challenges ahead<o:p></o:p>

In addressing the global economy's need for increased productivity, Georgieva emphasised the potential role of AI-related productivity boosts. <o:p></o:p>

She noted the continued growth of the global economy at historically subdued levels and expressed the necessity of unlocking productivity for a more favourable global narrative. <o:p></o:p>

Looking ahead, Georgieva predicted a challenging fiscal year in 2024, with countries grappling to address debt burdens from the COVID-19 pandemic and managing depleted buffers. <o:p></o:p>

The IMF's concern lies in the possibility of governments overspending and undermining efforts to combat inflation.<o:p></o:p>

IMF chief's future and institutional accomplishments<o:p></o:p>

Refusing to delve into her future plans, Georgieva, whose term at the IMF concludes this year, emphasised her current commitment to the role. <o:p></o:p>

She acknowledged the privilege of leading the IMF during turbulent times and expressed pride in the institution's resilience. <o:p></o:p>

Georgieva concluded by focusing on her immediate responsibilities, stating, "Let me do what is in front of me right now."<o:p></o:p>

(With inputs from AFP)<o:p></o:p>

International Monetary Fund's Managing Director, Kristalina Georgieva, has highlighted the dual nature of artificial intelligence (AI) concerning job security globally.

International Monetary Fund's Managing Director, Kristalina Georgieva, has highlighted the dual nature of artificial intelligence (AI) concerning job security globally. In an interview with Agence France-Presse, Georgieva expressed that AI is anticipated to impact 60 per cent of jobs in advanced economies, with around 40 per cent globally. Despite the perceived risks, Georgieva emphasised that AI presents a "tremendous opportunity" to enhance productivity levels and fuel global growth. Job displacement or enhancement: The AI dilemma Georgieva conveyed the nuanced impact of AI on employment, stating, "Your job may disappear altogether -- not good -- or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up." According to a new IMF report, only half of the jobs influenced by AI are expected to face negative consequences, while the remaining half might benefit from increased productivity due to AI integration into the workplace. The report suggests that higher-skilled jobs are likely to experience a more substantial impact. AI's uneven effects and global economic landscape The IMF report indicated that while labour markets in emerging and developing economies might initially experience a smaller impact from AI, they are also less likely to benefit from enhanced productivity gains. Georgieva stressed the importance of focusing on assisting low-income countries in adapting quickly to seize the opportunities presented by AI. As the IMF prepares to release updated economic forecasts later this month, Georgieva expressed optimism about the global economy, noting that it is on track to meet previous forecasts but cautioned that challenges remain in achieving a balanced monetary policy. AI's role in global productivity and challenges ahead In addressing the global economy's need for increased productivity, Georgieva emphasised the potential role of AI-related productivity boosts. She noted the continued growth of the global economy at historically subdued levels and expressed the necessity of unlocking productivity for a more favourable global narrative. Looking ahead, Georgieva predicted a challenging fiscal year in 2024, with countries grappling to address debt burdens from the COVID-19 pandemic and managing depleted buffers. The IMF's concern lies in the possibility of governments overspending and undermining efforts to combat inflation. IMF chief's future and institutional accomplishments Refusing to delve into her future plans, Georgieva, whose term at the IMF concludes this year, emphasised her current commitment to the role. She acknowledged the privilege of leading the IMF during turbulent times and expressed pride in the institution's resilience. Georgieva concluded by focusing on her immediate responsibilities, stating, "Let me do what is in front of me right now." (With inputs from AFP)

IMF chief acknowledges AI job risks but highlights 'tremendous opportunity'

Poker experts are claiming that the card game can help you perform better at work. They say some of the skills needed in Poker are also required in a professional environment. How true is that? Are good Poker players better employees?

Gravitas | Can poker help you become a better worker?

A recent survey of 750 business leaders reveals a growing trend: AI replacing jobs. In 2023, 37% of these leaders acknowledged AI-induced layoffs, with 44% expecting more in 2024. Major companies like Paytm and Google are at the forefront, integrating AI to enhance efficiency but at the cost of human jobs. Paytm's recent layoffs post AI implementation and Google's potential restructuring of its ad sales unit due to AI advancements highlight this shift.

Gravitas | The AI job takeover is here; Will mass layoffs be on the rise now?

The country's women and child development minister smriti irani has told the upper house of the parliament that menstrual leave could lead to discrimination against women in the workforce.

Debate over paid menstrual leave heats up in Rajya Sabha

Indian Minister opposes menstrual leave

Description: North Korea is infamous for the level of control the government exerts over its citizens. It's been discovered that the country is using unethical ways and fraudulent techniques to dispatch thousands of skilled I.T. Workers overseas. Find out more in this report.

North Koreans using fake identities to land remote jobs

North Koreans are allegedly using fake names, sham LinkedIn profiles, counterfeit work papers and mock interview scripts to clear remote jobs in Western tech companies. Researchers at Pao Alto networks a US cyber security firm made the discovery.

Report: North Koreans using fake names to land remote jobs

The Hilton hotel chain is breaking from conventional hiring practices by urging jobseekers to submit TikTok videos instead of traditional resumes.

The company shared a video on its TikTok account, @hiremehiltonau, outlining the "recruitment process at Hilton" and encouraging applicants to showcase their suitability in a one-minute video, reported the Guardian.

In a 34-second video, Hilton advises potential employees to identify roles of interest and submit a brief video showcasing how they would add to the experience for Hilton guests.

The video tells users to make videos on TikTok, tagging Hilton, and using the hashtag #hiremehilton.

However, Hilton reassures those not on TikTok that traditional written CVs are still accepted through its website.

<a href="https://www.wionews.com/south-asia/nepal-decides-to-ban-tiktok-citing-negative-effects-on-social-harmony-658060">Also read |&nbsp;Nepal decides to ban TikTok citing negative effects on social harmony</a>

<h2>Luring Gen Z workers?</h2>

Mary Hogg, Hilton Australasia's regional human resources director, explained that the TikTok pilot aims to attract Gen Z workers.&nbsp;

“When you need somebody who’s going to have really good interpersonal skills, to be able to handle guest relationships or any of that side of things, you’ve got no idea [if they can do that] from the paper side,” she told the Guardian.

Tom Earls, a partner at Fair Work Lawyers, noted that legally, there is nothing preventing an employer from requesting TikToks as part of the job application process.

Also watch |&nbsp;Nepal govt bans TikTok, launches probe into Chinese project

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However, he stressed the need for employers to ensure that such requirements do not unreasonably impact applicants, potentially leading to age discrimination or other ethical concerns.

In 2021, TikTok initiated a similar programme, #TikTokResumes, encouraging applicants to showcase their skills through videos resembling a "personal essay" with looped-in audio.

(With inputs from agencies)

The Hilton hotel chain is breaking from conventional hiring practices by urging jobseekers to submit TikTok videos instead of traditional resumes. The company shared a video on its TikTok account, @hiremehiltonau, outlining the "recruitment process at Hilton" and encouraging applicants to showcase their suitability in a one-minute video, reported the Guardian.

The Hilton hotel chain is breaking from conventional hiring practices by urging jobseekers to submit TikTok videos instead of traditional resumes. The company shared a video on its TikTok account, @hiremehiltonau, outlining the "recruitment process at Hilton" and encouraging applicants to showcase their suitability in a one-minute video, reported the Guardian. In a 34-second video, Hilton advises potential employees to identify roles of interest and submit a brief video showcasing how they would add to the experience for Hilton guests. The video tells users to make videos on TikTok, tagging Hilton, and using the hashtag #hiremehilton. However, Hilton reassures those not on TikTok that traditional written CVs are still accepted through its website. Also read | Nepal decides to ban TikTok citing negative effects on social harmony Luring Gen Z workers? Mary Hogg, Hilton Australasia's regional human resources director, explained that the TikTok pilot aims to attract Gen Z workers. “When you need somebody who’s going to have really good interpersonal skills, to be able to handle guest relationships or any of that side of things, you’ve got no idea [if they can do that] from the paper side,” she told the Guardian. Tom Earls, a partner at Fair Work Lawyers, noted that legally, there is nothing preventing an employer from requesting TikToks as part of the job application process. Also watch | Nepal govt bans TikTok, launches probe into Chinese project However, he stressed the need for employers to ensure that such requirements do not unreasonably impact applicants, potentially leading to age discrimination or other ethical concerns. In 2021, TikTok initiated a similar programme, #TikTokResumes, encouraging applicants to showcase their skills through videos resembling a "personal essay" with looped-in audio. (With inputs from agencies)

Hilton hires with a twist, asks job seekers to send TikTok videos instead of traditional resumes

With companies around the world increasingly focusing on sustainability and net-zero, 'green skills' are the passport to remain relevant in the 21st Century job market.

Companies and their supply chain contribute about 60 per cent to the world's emissions. But companies in all but a few countries have any stated commitment towards net-zero. However, with increasing awareness about the impact of climate change, things are changing - albeit slowly.

At the forefront of this 21st Century revolution are workers possessing 'green skills', which the United Nations defines as technical knowledge and abilities that "enable the effective use of green technologies and processes in professional settings".

In fact, the United Nations has recognised 'green skills' as one of the key elements for achieving the Sustainable Development Goals (SDGs) by 2030.

Manu Saigal, Director, Adecco India says that 'green skills' can contribute to a "just transition" to a low-carbon and circular economy, which can generate decent work and income for millions of people.

However, the 2023 edition of LinkedIn's Global Green Skills report leaves much to be desired. The report states that only one out of every eight worker has one or more 'green skills'.

Saffin Mathew, Program Director at 1M1B (One Million for One Billion), calls 'green skills' a linchpin in climate mitigation efforts. He adds: "By acquiring green skills, individuals can advocate for resource efficiency, economic growth, and environmental stewardship."

'Green skills': A demand-supply mismatch

At least three industries are likely to put a premium on 'green skills': energy production, transportation, and finance.

The first two sectors are among the top carbon emitters, while the finance industry can enable sustainable transformation of our planet, notes the report, which is based on the activity of more than 930 million LinkedIn users worldwide.

The number of people with 'green skills' in the global workforce has risen by an average of 12.3 per cent since 2022. On the other hand, jobs requiring at least one green skill doubled by over 22 per cent in the same period. These numbers are significant given that the global job market has largely remained weak.

But demand for 'green workers' far outstripping supply has been observed for the last few years. Between 2018 and 2023, workers with 'green skills' grew by 5.4 per cent each year. But, jobs needing at least one green skill grew by 9.2 per cent in the same period.

This supply-demand disconnect, the LinkedIn report argues, is likely to rise considerably without significant investments in building an effective 'green' workforce.

The outlook in key sectors

Since 2016, there has been a steady increase in the number of workers with 'green skills' in the oil and gas industry, the biggest subset of energy industry. The figure stands at 21 per cent in 2023, which lower than other resource-intensive sectors like farming and construction.

Since 2018, the share of auto workers with EV skills, subset of 'green skills', has risen by an average 61 per cent. But only 3.5 per cent of automobile workers possess any form of 'green skills'. Interestingly, India, where 5.1 per cent of auto workers have EV skills, has experienced the greatest five-year jump from 2018 to 2023 -- 140 per cent.

Only 6.8 per cent of the finance industry is equipped with 'green skills'. This places finance behind industries ranging from energy and mining to

agriculture and manufacturing. However, the industry is seeing a 14.8 per cent year-over-year rise in its green talentpool.

Moreover, workers in the US and Europe are quickly acquiring skill sets at the intersection of finance and sustainability. Skills like carbon accounting, emissions trading, impact assessment, and sustainability reporting are among the top skils being picked up by finance professionals.

"Increasingly, lenders are offering attractive green rates to organisations that are able to meet sustainability requirements. Green bonds and sustainability-linked loans would help in reaching net-zero by 2050," says Mathew, while stressing on the need for more 'green' finance professionals. &nbsp;

Green skills: The key to renewables sector

If there's one sector where workers with 'green skills' will play a leading role, it is the booming renewables sector. From 2015 to 2023, the 'sunrise' sector attracted 120 new workers for every 100 workers who left.

Data from the International Labour Organisation too highlights the exponential growth being seen in the renewables sector, especially in solar photovoltaic (PV), bioenergy, hydropower and wind power.

The global renewable energy sector employed 13.7 million people directly as well as indirectly last year. A decade ago, this number stood at 7.3 &nbsp;million.

"When hiring and job postings in renewable energy increase, the industry gains the capacity that is needed to produce clean energy," the report says, indicating the pivotal role of 'green skills' plays in the world's energy transition.

The renewable energy, as opposed to fossil fuels, is likely to accelerate the push towards a greener earth. Renewable energy can help meet increased energy demand while limiting the increase in average global temperatures, provided there is a massive infusion of green skills in the sector.

Training for 'green jobs'

Increasing focus on 'green skills' training is the need of the hour. According to Saigal, 'green skills' can be incorporated in a curriculum in various ways and at any age, depending on the subject, level and, context of the education. "Green skills training should be an integral part of the curriculum from preschool to higher education and beyond," she adds.

Sustainability expert Ashwin Kak believes that the 'green skills' are very multi-dimensional, which means that they incorporate skill-sets from across social studies, technical studies and policy-making.

He explains the inter-disciplinary aspect of 'green skills' in the following manner: "Engineers going through a mix of solar and wind energy in their learning setup, or a liberal arts students learning more about the aspects of human rights and land rights that go into the process of putting up large wind farms."

Mathew, Saigal and Kak believe that the private sector as well as the government need to work in tandem to push for a greener economic future. This is likely to be a win-win for both. Developing a 'green' workforce will not only help governments reach their net-zero targets but also accelerate private sector's push towards sustainability.

Talking specifically about India: In 2015, the government in partnership with the private sector launched the Skill Council for Green Jobs, which aims to accredit 60 training organisations, train 1,490 trainers and certify more than a million learners by 2025. &nbsp;

"The government's strength lies in providing a central platform or available infrastructure, while corporates can be in with vital quality content, delivery mechanisms and trainings modules," says Kak.

With companies around the world increasingly focusing on sustainability and net-zero, 'green skills' are the passport to remain relevant in the 21st Century job market.

With companies around the world increasingly focusing on sustainability and net-zero, 'green skills' are the passport to remain relevant in the 21st Century job market. Companies and their supply chain contribute about 60 per cent to the world's emissions. But companies in all but a few countries have any stated commitment towards net-zero. However, with increasing awareness about the impact of climate change, things are changing - albeit slowly. At the forefront of this 21st Century revolution are workers possessing 'green skills', which the United Nations defines as technical knowledge and abilities that "enable the effective use of green technologies and processes in professional settings". In fact, the United Nations has recognised 'green skills' as one of the key elements for achieving the Sustainable Development Goals (SDGs) by 2030. Manu Saigal, Director, Adecco India says that 'green skills' can contribute to a "just transition" to a low-carbon and circular economy, which can generate decent work and income for millions of people. However, the 2023 edition of LinkedIn's Global Green Skills report leaves much to be desired. The report states that only one out of every eight worker has one or more 'green skills'. Saffin Mathew, Program Director at 1M1B (One Million for One Billion), calls 'green skills' a linchpin in climate mitigation efforts. He adds: "By acquiring green skills, individuals can advocate for resource efficiency, economic growth, and environmental stewardship." 'Green skills': A demand-supply mismatch At least three industries are likely to put a premium on 'green skills': energy production, transportation, and finance. The first two sectors are among the top carbon emitters, while the finance industry can enable sustainable transformation of our planet, notes the report, which is based on the activity of more than 930 million LinkedIn users worldwide. The number of people with 'green skills' in the global workforce has risen by an average of 12.3 per cent since 2022. On the other hand, jobs requiring at least one green skill doubled by over 22 per cent in the same period. These numbers are significant given that the global job market has largely remained weak. But demand for 'green workers' far outstripping supply has been observed for the last few years. Between 2018 and 2023, workers with 'green skills' grew by 5.4 per cent each year. But, jobs needing at least one green skill grew by 9.2 per cent in the same period. This supply-demand disconnect, the LinkedIn report argues, is likely to rise considerably without significant investments in building an effective 'green' workforce. The outlook in key sectors Since 2016, there has been a steady increase in the number of workers with 'green skills' in the oil and gas industry, the biggest subset of energy industry. The figure stands at 21 per cent in 2023, which lower than other resource-intensive sectors like farming and construction. Since 2018, the share of auto workers with EV skills, subset of 'green skills', has risen by an average 61 per cent. But only 3.5 per cent of automobile workers possess any form of 'green skills'. Interestingly, India, where 5.1 per cent of auto workers have EV skills, has experienced the greatest five-year jump from 2018 to 2023 -- 140 per cent. Only 6.8 per cent of the finance industry is equipped with 'green skills'. This places finance behind industries ranging from energy and mining to agriculture and manufacturing. However, the industry is seeing a 14.8 per cent year-over-year rise in its green talentpool. Moreover, workers in the US and Europe are quickly acquiring skill sets at the intersection of finance and sustainability. Skills like carbon accounting, emissions trading, impact assessment, and sustainability reporting are among the top skils being picked up by finance professionals. "Increasingly, lenders are offering attractive green rates to organisations that are able to meet sustainability requirements. Green bonds and sustainability-linked loans would help in reaching net-zero by 2050," says Mathew, while stressing on the need for more 'green' finance professionals. Green skills: The key to renewables sector If there's one sector where workers with 'green skills' will play a leading role, it is the booming renewables sector. From 2015 to 2023, the 'sunrise' sector attracted 120 new workers for every 100 workers who left. Data from the International Labour Organisation too highlights the exponential growth being seen in the renewables sector, especially in solar photovoltaic (PV), bioenergy, hydropower and wind power. The global renewable energy sector employed 13.7 million people directly as well as indirectly last year. A decade ago, this number stood at 7.3 million. "When hiring and job postings in renewable energy increase, the industry gains the capacity that is needed to produce clean energy," the report says, indicating the pivotal role of 'green skills' plays in the world's energy transition. The renewable energy, as opposed to fossil fuels, is likely to accelerate the push towards a greener earth. Renewable energy can help meet increased energy demand while limiting the increase in average global temperatures, provided there is a massive infusion of green skills in the sector. Training for 'green jobs' Increasing focus on 'green skills' training is the need of the hour. According to Saigal, 'green skills' can be incorporated in a curriculum in various ways and at any age, depending on the subject, level and, context of the education. "Green skills training should be an integral part of the curriculum from preschool to higher education and beyond," she adds. Sustainability expert Ashwin Kak believes that the 'green skills' are very multi-dimensional, which means that they incorporate skill-sets from across social studies, technical studies and policy-making. He explains the inter-disciplinary aspect of 'green skills' in the following manner: "Engineers going through a mix of solar and wind energy in their learning setup, or a liberal arts students learning more about the aspects of human rights and land rights that go into the process of putting up large wind farms." Mathew, Saigal and Kak believe that the private sector as well as the government need to work in tandem to push for a greener economic future. This is likely to be a win-win for both. Developing a 'green' workforce will not only help governments reach their net-zero targets but also accelerate private sector's push towards sustainability. Talking specifically about India: In 2015, the government in partnership with the private sector launched the Skill Council for Green Jobs, which aims to accredit 60 training organisations, train 1,490 trainers and certify more than a million learners by 2025. "The government's strength lies in providing a central platform or available infrastructure, while corporates can be in with vital quality content, delivery mechanisms and trainings modules," says Kak.

Decoding the trend: 'Green skills' for the 21st Century workforce

Microsoft-owned LinkedIn on Monday (Oct 16) said that it is eliminating more than 650 employees in second round off layoffs, joining the list of other US tech firms that have&nbsp;reduced their&nbsp;workforce as demand for hiring plummets.

As many as 668 employees, which constitute more than 3 per cent of its 20,000-strong workforce, across its engineering, talent and finance teams will be asked to go, reports Reuters news agency.

This comes after the social media network cut 716 jobs across sales, operations and support teams in May to streamline its operations and remove layers to help make quicker decisions.

<h2>Tech sector bleeding&nbsp;</h2>

LinkedIn generates money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates.

Overall, the tech sector has laid off 141,516 employees in the first half of the year compared with about 6,000 a year ago, according to employment firm Challenger, Gray &amp; Christmas.

“Talent changes are a difficult, but necessary and regular part of managing our business," the company said in a statement.

"While we are adapting our organisational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers."

"We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect."

<h2>LinkedIn joins growing list of tech firms in layoffs&nbsp;</h2>

Before making the announcement public, the company had shared the news with the staff over an e-mail, giving a breakdown of where the layoffs would be taking place.

Also read |&nbsp;<a href="https://www.wionews.com/world/hate-crime-in-us-man-stabs-6-year-old-muslim-child-over-ongoing-israel-hamas-war-tensions-647335">Hate crime in US: Man stabs to death 6-year-old Muslim child over ongoing Israel-Hamas war</a>

It said "137 Engineering management roles" and "38 Product roles" were getting cut.

Also read |&nbsp;<a href="https://www.wionews.com/world/tiktok-stands-against-terrorism-launches-measures-to-control-misinformation-amid-israel-hamas-war-647320">TikTok 'stands against terrorism,' launches measures to control misinformation amid Israel-Hamas war</a>

It added that 368 roles would get axed from its engineering team "in an effort to better align resources to our FY24 plan."

Moreover, the staff were told to expect to receive an email within an hour to find out whether they had been laid off, reports Business Insider.

In November 2022, Ryan Roslansky, the CEO of LinkedIn, told CNBC that the company was planning to implement a hiring freeze across some parts of the company.

(With inputs from agencies)

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Microsoft-owned LinkedIn on Monday (Oct 16) said that it is eliminating more than 650 employees in second round off layoffs, joining the list of other US tech firms that have reduced their workforce as demand for hiring plummets.

Microsoft-owned LinkedIn on Monday (Oct 16) said that it is eliminating more than 650 employees in second round off layoffs, joining the list of other US tech firms that have reduced their workforce as demand for hiring plummets. As many as 668 employees, which constitute more than 3 per cent of its 20,000-strong workforce, across its engineering, talent and finance teams will be asked to go, reports Reuters news agency. This comes after the social media network cut 716 jobs across sales, operations and support teams in May to streamline its operations and remove layers to help make quicker decisions. Tech sector bleeding LinkedIn generates money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates. Overall, the tech sector has laid off 141,516 employees in the first half of the year compared with about 6,000 a year ago, according to employment firm Challenger, Gray & Christmas. “Talent changes are a difficult, but necessary and regular part of managing our business," the company said in a statement. "While we are adapting our organisational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers." "We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect." LinkedIn joins growing list of tech firms in layoffs Before making the announcement public, the company had shared the news with the staff over an e-mail, giving a breakdown of where the layoffs would be taking place. Also read | Hate crime in US: Man stabs to death 6-year-old Muslim child over ongoing Israel-Hamas war It said "137 Engineering management roles" and "38 Product roles" were getting cut. Also read | TikTok 'stands against terrorism,' launches measures to control misinformation amid Israel-Hamas war It added that 368 roles would get axed from its engineering team "in an effort to better align resources to our FY24 plan." Moreover, the staff were told to expect to receive an email within an hour to find out whether they had been laid off, reports Business Insider. In November 2022, Ryan Roslansky, the CEO of LinkedIn, told CNBC that the company was planning to implement a hiring freeze across some parts of the company. (With inputs from agencies) WATCH WION LIVE HERE

LinkedIn lays off more than 650 employees in another round over bleak outlook

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