1.2 million laid off or furloughed in Indonesia due to COVID-19
The pandemic has brought the largest Southeast Asian economy to a standstill, with businesses having to shut down and lay off their employees.
Some organisations may not be able to recover from COVID-19
Businesses forced to close during COVID-19 may struggle to restart operations when recovery from the pandemic begins, the Disaster Recovery Institute International cautioned.
New JobStreet platform offers workforce support
The COVID-19 Jobs and Resource Hub offers a knowledge base for both employer and employees dealing with the impact of the pandemic.
Many organisations struggling to cope with impact of COVID-19
40% of employers have shut down certain aspects of their business, and 19% are considering doing so, according to new SHRM research.
Hong Kong unemployment rate hits new 9-year high
Year-on-year declines in total employment and the labour force widened further to 3.6% and 2.2% respectively, both the largest on record.
More than 30,000 Malaysian employees seek wage subsidies
Introduced on April 1, the Wage Subsidy Scheme is an extension of Malaysia’s employment retention programme announced in the Economic Stimulus Package 2020 on March 16.
10 million Thai jobs could be lost from COVID-19 outbreak
The COVID-19 outbreak has already seen 7 million jobs lost in Thailand, the second-largest economy in Southeast Asia.
COVID-19 could wipe US$9 trillion off global GDP over next two years
More jobs are likely to be threatened this year, as IMF warns that the world economy is heading for its worst recession since the Great Depression in the 1930s.
125 million workers in Asia-Pacific at risk of unemployment
New report from the International Labour Organisation warns that 195 million jobs worldwide could be wiped out because of COVID-19.
Over 320,000 duty free and travel retail jobs at risk in Asia Pacific
Governments in the Asia Pacific are urged to include the duty free and travel retail industry in their financial support packages.
HSBC to slash 35,000 jobs worldwide in “deepest restructuring” exercise
The bank will reduce US$4.5bn worth of costs which would involve slashing about 15% of the group’s global workforce amidst plunging profits.
COVID-19 could cut 30 million tourism jobs in Asia
Asia is expected to be the worst affected, with 30 million jobs at risk of being lost.
Expedia cuts 3,000 jobs after “disappointing” results
The online travel site is set to lay off 3,000 jobs worldwide to cut operating cost after what it described as a “disappointing” 2019.
Sa Sa slashes jobs and salaries in Hong Kong
Plunging sales amidst the coronavirus outbreak have forced cosmetics retailer Sasa to axe jobs and cut up to 40% of its salaries in Hong Kong.
Four in 10 Hong Kong hotel employees could lose jobs
As if things weren’t bad enough for the hotel industry in Hong Kong, the Wuhan virus outbreak may prove to be its final nail in the coffin.