Philippines: Third-quarter GDP shrinks by 11.5%
The Philippine economy shrank for a third consecutive quarter, though at a slower rate compared to second quarter’s plunge of 16.5%.
Number of layoffs by SMEs spikes in South Korea
The percentage of workers “temporarily laid off” by small and medium sized companies rose sharply from 28.0% in August to 50.1% in September.
Indonesia’s unemployment hits 10-year high, economy enters recession
The pandemic has caused some 2.56 million people to lose their jobs, raising Indonesia’s open unemployment rate to its highest since 2011.
South Korea: Employment in September slides to lowest level in four months
Workers in their 30s have been hit the hardest, with the unemployment rate exceeding 70% for this group.
Retrenched Malindo Airways staff assured of benefits
The Malaysian government has assured the 2,647 retrenched staff of Malindo Airlines that they will receive due compensation and retraining.
Hong Kong: Jardine Aviation Services Group announces layoffs
The company that handles ground services for the Hong Kong International Airport will axe 340 staff from next month.
Hong Kong extends fixed-rate mortgage scheme by a year
The extension by the Hong Kong Mortgage Corporation (HKMC) comes amid rising unemployment and recession due to COVID-19.
Thai Airways employees accept early retirement
The latest announcement by comes as the ailing airline continues to struggle against the backdrop of the COVID-19 pandemic.
Businesses in Singapore continue to be hit hard by COVID-19
Robinson is the latest high-profile company to cease operations in Singapore at a time when unemployment is on the rise.
Majority of Cathay Pacific pilots, cabin crew accept pay cuts
The Hong Kong carrier announced it will be changing the contracts of its pilots and cabin crew as part of its restructuring exercise.
Hong Kong saw lowest average salary increment in 10 years
Despite the lowest increment in a decade, Hong Hong employees can look forward to a slight pay rise next year.
Boeing plans 30,000 job cuts as crisis deepens
Plunging demand for its aircrafts due to the COVID-19 pandemic has forced the company to cut its workforce from 160,000 to 130,000.
Economic slowdown not so severe, says Cambodian government
The Cambodian government’s projection contradicts that of the IMF’s, which expects the Cambodian economy to contract by 2.8% in 2020.
More than half of working adults globally fear losing jobs: Survey
The survey, which involved more than 12,000 working adults in 27 countries, showed wide variations of job-loss concern between countries.
Cathay Pacific announces 5,900 job cuts
The Hong Kong carrier is also planning to make changes to the contracts of its pilots and cabin crew as part of its restructuring.
Vietnam set for modest growth in 2020
Despite the impact of the COVID-19, Vietnam and Myanmar are the only two countries in ASEAN that are expected to register positive growth this year.
Businesses in the Philippines receive payment deferment
The move comes as about 90,000 businesses in the country remain closed due to the COVID-19 lockdown imposed by the government.
More help for Singapore companies to retain employees and pay salaries
The latest tranche of payouts in the Jobs Support Scheme is designed primarily to help employers pay the wages of about 1.9 million local employees.
Thailand pushes ahead with reopening plans
A new scheme will allow tourists to visit designated areas within some Thai provinces as the country prepares to allow more tourists back into the country.
Economic contraction slows down in Singapore
The phased reopening of the economy following Singapore’s circuit breaker is helping the recovery efforts of some sectors.
Job vacancies in Singapore’s retail sector not picked up
Only 21% of the job and training opportunities available in the retail sector since April this year have been taken up, says Singapore’s MOM.
Economic recovery to be sluggish in the Philippines
The country’s GDP is likely to return to pre-pandemic level only in 2022, the World Bank has predicted.
More than 63,000 jobs lost in Japan due to COVID-19
Japan’s unemployment rate also went up to 3% for the first time in over three years, with the government urging firms to keep their workers.
SMEs in Singapore offered flexibility in loan repayment
The Monetary Authority of Singapore has moved to allow SMEs facing cashflow difficulties to defer their loan repayments until 2021.
Which COVID response stage is your organisation in?
Why HR’s next steps need to include adopting technology and moving beyond financial survival and workplace safety.
$3.5 trillion of wages lost due to COVID-19 pandemic: ILO
The COVID-19 pandemic has taken a heavier toll on the global workforce than it previously forecasted, ILO said.
New jobs bill in Indonesia comes under scrutiny
Critics say that the proposed bill will cut severance benefits and revise rules on outsourcing, while having a negative impact on the environment.
New measures provide more financial flexibility for SMEs in Malaysia
New measures announced by the Malaysian government will help preserve more jobs, says the SME Association of Malaysia.
Thailand to introduce new stimulus measures
The latest injection of cash aid by the Thai government aims to boost the economy and preserve jobs.
Indonesia wants to create ‘Digital Heroes’
A 3-week bootcamp organised by the Indonesian government aims to help prepare SMEs to go digital, an initiative key to the country’s economic recovery.