The latest breaking labour market news in 2024, comment by economists and internal or external features and factors affecting the global labour markets.
In 2025, Japanese Businesses face Labor Shortages as Japan’s portion of elderly people has continued and is still expected to continue rising to about 34.8% in 2040, according to the National Institute of Population and Social Security Research. Japanese Businesses face Labor Shortages As of now, Japan’s elderly population stands at 36.25 million people, that […]
Brig Gen Yushau Ahmed, The Director General of the National Youth Service Corps, says the Federal government has yet to increase the monthly allowances of serving NYSC corps members even weeks after the new national minimum wage of ₦70,000 had been signed into law. The National Youth Service Corps made this announcement and denied reports […]
President Bola Ahmed Tinubu signed the new minimum wage bill of N70,000 at the State House in Abuja on Monday days after the National Assembly National had passed the Minimum Wage Act, 2019 to increase the National Minimum Wage from ₦30,000 to ₦70,000. The signing ceremony was witnessed by a National Assembly delegation led by […]
Peloton reported it is planning a layoff that would affect 15% of Peloton’s global staff which will impact about 400 people across its global workforce, amid plans to keep the staff count flat and cut spending amid growing concerns about cash flow through to 2025. This is coming as Peloton CEO, president, and board director […]
The Kwara State Government has outlined plans to create 4,000 jobs through the newly built Garment Factory, an investment by the State under the leadership of Governor AbdulRahman AbdulRazaq and it is aimed at raising incomes and diversifying the State’s economy. The newly set up factory believed to be the biggest in the West Africa […]
The Manufacturers Association of Nigeria (MAN) has hinted that over 6,000 direct and indirect jobs are expected to be lost as foreign companies close their production activities in the country. Multinational firms such as Sanofi, Unilever Nig, Procter & Gamble, GlaxoSmithKline, and Bolt Foods have either completely left or are wrapping up their exit processes […]
The Nigerian President, Bola Ahmed Tinubu has finally approved the sum of ₦35,000 as the new minimum wage for all federal employees. This follows the meeting that was held between the Trade Union Congress (TUC), the Nigeria Labour Congress (NLC), and the Federal Government delegation. This approval was officially announced in a report issued by […]
LinkedIn is planning layoffs that would affect about 668 staff in across its engineering, product, talent, and finance divisions amid plans to keep the staff count flat through the second quarter of 2023. Recall that this is LinkedIn’s second round of layoffs this year. This is even though the company earned more than $15 billion […]
The implementation of the new Nigeria Labour Survey Guidelines by the Nigerian National Bureau of Statistics, which is expected to reduce Nigeria’s unemployment figure through the release of the Labour Force Survey by the National Bureau of Statistics (NBS) has had stakeholders queried the accuracy of some of the indices to be considered. Stakeholders such […]
Uber Technologies is planning layoffs that would eliminate approximately 200 jobs in its recruitment division amid plans to keep the staff count flat through the second quarter of 2023 and streamline costs. The reductions affect less than 1% of Uber’s 32,700-strong global workforce and follow the ride-share company laying off 150 employees in its freight […]
The Dangote Refinery has finally begun operation, the newly commissioned 650,000 barrels per day oil processing facility has been designed to process crude oil grades from the three continents of Africa, Asia, and America. The founder and President of Dangote Group, Alhaji Aliko Dangote has expressed optimism that his group’s refinery would employ over 100,000 […]
Morgan Stanley is planning another round of layoffs that would eliminate approximately 3,000 jobs. The job cuts would mark the second round of layoffs in the past six months at Morgan Stanley. The company employed about 82,500 people as of the end of the year 2023. The Wall Street Bank is preparing to cut these […]
Tyson Foods Inc., one of the top US meat companies and supplier by sales, is eliminating 10 percent of its corporate staff and cutting 15 percent of its senior leadership positions as part of a move to cut costs. Tyson Foods Inc.’s vision in reducing wasteful spending has led to massive job cuts, as the […]
Credit Suisse: The Swiss Bank Employees’ Association (SBPV) said on Tuesday, in a plea letter delivered to the Swiss parliament that Credit Suisse and the new parent company, UBS must freeze all job cuts planned during the emergency merger of Credit Suisse and UBS. Credit Suisse and UBS staff have been speculating about potential layoffs […]
Amazon: The management at Amazon has announced that the company will cut another 9,000 jobs across its global business. Just months after Amazon announced it had expanded staff-cutting plans to affect more than 18,000 workers, it finally came up with the second largest cutting of staff at the online retailer this year. Amazon does not […]