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Recent Editions
Human Times
North America
Meta is targeting May 20 for a first wave of layoffs, with more coming later, three sources familiar with the company's plans have told Reuters. The parent of Facebook and Instagram will lay off about 10% of its global workforce, or close to 8,000 employees, in the initial round, one of the sources said. The company is planning further layoffs in the second half of the year, although details of these cuts, including date and size, are not yet settled, the sources said.
Full Issue
Human Times
UK
Unemployment in the UK is projected to exceed 2.1m for the first time since 2014, rising from 1.87m today. Economists at the EY Item Club predict the jobless rate will increase from 5.2% to 5.8% next year due to the economic impact of the Iran war. Matt Swannell, chief economic adviser at the EY Item Club, said: "The recent spike in energy prices and disruption to supply chains will be the biggest jolt to the jobs market since the pandemic." The forecast indicates a potential recession as living standards decline and consumer confidence plummets.
Full Issue
Human Times
Europe
The European Commission has said in annexes to a draft communication that businesses should be encouraged to ensure at least one day of compulsory remote working where possible to ease energy concerns as the EU prepares for worsening fallout from the war in the Persian Gulf. EU Energy Commissioner Dan Jørgensen had already urged Europeans to work from home and cut travel in late March, warning of a "very serious situation" in the Middle East with no clear end in sight, Politico notes. An emergency energy package is set to be presented Wednesday,
Full Issue
Human Times
Middle East
Meta is targeting May 20 for a first wave of layoffs, with more coming later, three sources familiar with the company's plans have told Reuters. The parent of Facebook and Instagram will lay off about 10% of its global workforce, or close to 8,000 employees, in the initial round, one of the sources said. The company is planning further layoffs in the second half of the year, although details of these cuts, including date and size, are not yet settled, the sources said.
Full Issue