The three most common cost-cutting measures are adjustments to monthly salary components, no-pay leave and shorter work weeks.
This is in line with a 17.1% contraction of the economy in the same quarter, as total hours worked dropped because of COVID-19.
The COVID-19 pandemic has crippled Thailand’s tourism industry, which is critical for the country’s economy.
Not since the Asian financial crisis of 1998 has the country experienced such a toll on its economy.
The RM1.5 billion programme was introduced to help workers who have been displaced by the COVID-19 pandemic find jobs.
The Philippines government has set aside 120 billion pesos for a credit guarantee programme that will help small businesses gain access to loans.
A new scheme offers cabin crew members the option of early release or retirement as the airline continues to struggle with the COVID-19 pandemic.
The job creation Bill will make it more attractive for foreign companies to create jobs in the country which has seen record unemployment rate.
Consumer confidence and business conditions continue to be adversely impacted by the COVID-19 pandemic.
Malaysia’s economic recovery will depend on SMEs getting back on their feet, suggested Malaysia’s International Trade and Industry Minister.
This represents the biggest slump in quarterly GDP data dating back to 1981, and plunges the Philippines into recession.
A loan from the Asian Development Bank will help the Thai government give more support to SMEs in the country.
The country’s HR Minister reassured local citizens will be given priority when it comes to any available job openings.
Uber employees can choose to continue working from home through June 2021, even if offices open before then.
Virgin Australia will also layoff about a third of its workforce as the carrier aims to rebrand as a “value airline”.
The London-based bank, which makes 90% of its profits in Asia, saw its profits for the first half of the year plunge 65%.
Takorn Tantasith, former secretary-general of Thailand’s NBTC, envisions Thailand as a WFH hub for the world.
Without an extension of a loan moratorium, many SMEs are at risk of closing down, warned the Federation of Malaysian Manufacturers.
NTUC, together with three unions, has reached an amicable agreement with a SIA Engineering-linked company on the retrenchment.
As of June 2020, there were 90,500 unemployed residents, of whom 79,600 were citizens.
The company has reportedly laid off 144 workers over three days without providing prior notice or proper reason.
The Malaysian government has taken steps to help displaced workers find employment by introducing a hiring incentive and training assistance programme.
Minister for Manpower Josephine Teo also expressed her commitment to ensuring essential workers get “fair opportunities” to progress.
Nike said the new structure would be “nimbler” and “flatter” and lead to a streamlining of its corporate leadership team.
The company made the announcement after demand for its recruitment products has been affected by the COVID-19 pandemic.
Subsidies will be reduced under the extended program, which is expected to help about 1 million workers and last till 2021.
If internet inequality is not adequately addressed, millions around the world could find themselves without a job, warned Microsoft president.
From January to May 2020, more than one-quarter of businesses have closed down because of COVID-19, according to a new report.
A surge of employment after the reopening of Australia's economy was not enough to offset the increase in the number of jobseekers.
The integrated resort operator said the vast majority of local staff have been retained while all affected workers will get a “fair compensation”.