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250,000 firms could lay off workers as Sunak mulls furlough withdrawal

As many as 250,000 businesses could be forced to lay off staff because they cannot contribute to wage bills as the taxpayer-backed furlough scheme is wound down, a bleak survey suggests.

A quarter of the 1m companies relying on Rishi Sunak’s wage subsidies will be forced to make “difficult decisions” on layoffs in the coming months, said the Institute of Directors lobby group (IoD).

It will spark fears of a surge in unemployment when the lockdown lifts, hammering Britain’s ability to bounce back fast.

Chancellor Rishi Sunak is expected to shortly unveil his plan to wind down  the furlough scheme,

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Okada Manila to lay off over 1,000 casino staff

MANILA — Philippine integrated resort and casino Okada Manila will retrench more than 1,000 employees next month, citing severe losses triggered by the ongoing coronavirus lockdown.

Okada, along with other casinos in the country, has been closed since mid-March as part of efforts to prevent the spread of the virus known as COVID-19.

“Not having any revenue since the lockdown has been financially draining and caused severe losses to the company, and if this is not addressed, its losses will pile up,” company President Takashi Oya said in a letter to staff on Tuesday.

The Philippines is weighing whether to

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Housebuilders lay foundations for recovery after pandemic brings market to a standstill

The surge in interest came as the Government eased restrictions on property viewings and valuations, allowing house buyers in England to visit estate agents or show homes for the first time since March.

A reopening of the sector is a key part of the Prime Minister’s plans to jumpstart the economy.

It followed seven weeks of gridlock which put a halt to all non-essential house moves and banned agents from listing new properties. Yet the immediate rebound in searches for property reflects confidence among buyers, despite the prolonged shutdown of the market, Teagle says.

“There has been a profound impact

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Coronavirus drives Indonesia’s Traveloka to lay off staff

JAKARTA — Travel booking service Traveloka, one of Indonesia’s most valuable startups, has been forced to lay off a significant portion of its staff, as the coronavirus outbreak saps demand for travel, two sources familiar with the matter told the Nikkei Asian Review.

The cuts, which affected around 100 people or 10% of the startup’s employees, happened last week, according to a source, who said some of those who remain are being paid half their regular salary.

Traveloka is the latest company in Indonesia’s tourism sector to be badly hurt by the coronavirus, alongside hotels and restaurants, especially in the

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