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Sunday Jan 29, 2023

After tech companies, now it’s the media’s turn… Retrenchment of employees started, thousands of jobs lost. financial crisis in US Media: Massive Job Cuts Amid Falling Newsroom Employment


Retrenchment continues in the American media as well. According to a report, many companies have fired thousands of their employees.

After tech companies, now it's media's turn, layoffs begin, thousands of jobs lost

Retrenchment of employees started in media companies

in the world financial crisis Now slowly its effect is beginning to fall on all the sectors. most powerful country in the world America After tech companies, now the retrenchment of employees has started in media companies as well. In the US, the management of CNN, Washington Post, Vox Media, and The Verge website and New York Magazine announced on Friday that it would lay off seven percent of its staff.

As reported by AFP, Vox Media CEO Jim Bankoff said in a mail to employees thatThe company is suffering losses due to the challenging economic environment affecting business and industry. That’s why the company decided to remove about seven percent of the employees from all its departments. According to reports, Jim Bankoff gave the employees only 15 minutes to leave the company.

today’s big news

37 weeks pregnant was also fired

It is said that the company 1900 people work in it. 130 people have been affected by the retrenchment decision. Vox Meghan McCarrow, an award-winning journalist who spent more than nine years at media-owned website Eater, tweeted that she was 37 weeks pregnant and was on the list of laid-off employees. We cannot express the crisis that my family and I are facing.

‘Damage to both journalists and journalism’

Washington Post CEO Fred Ryan warned last month that “many positions” would be cut in the coming days. Regarding layoffs, the Writers Guild of America East told AFP, “Journalism has been under pressure for a long time and many companies feel it is the right time to reduce their labor costs. This is harming both journalists and journalism.

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Let us tell you that earlier media giants NBC News and MSNBC had also retrenched employees on a large scale. The number of affected employees could be up to 75.

Home prices | Houses to cost 6-10 percent in current financial year: Report


file photo

file photo

Mumbai. Housing prices in the top six cities are estimated to increase by six to 10 per cent in the current financial year due to a steep rise in raw material, labor and land costs and a relatively favorable demand-supply situation. This has been estimated in the report of domestic rating agency Crisil.

It has been said in the report that the prices of houses will increase by three to five percent in the next financial year. The report also states that large real estate companies will register a robust 25 per cent growth in sales in 2022-23. The sales of these companies will increase by 10-15 percent in the next financial year.

The report says that the level of vacant houses (unsold houses) has come down to two and a half years. This was four years before the pandemic. This is because of improving credit worthiness of large real estate.

The agency expects housing prices to increase by 6-10 per cent this fiscal and 3-5 per cent in the next fiscal in the top six cities due to a steep rise in the cost of raw materials, labor and land.

The report says that the hybrid model of work (office and work from home) is still applicable in many sectors. In such a situation, despite the increase in prices, the demand for bigger houses will not be adversely affected. The top six realty markets are…Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Pune, Hyderabad and Kolkata.

Companies covered in the report include Brigade Enterprises, DLF, Godrej Properties, Kolte-Patil Developers, Macrotech Developers, Mahindra Lifespace Developers, Oberoi Realty, Prestige Estate Projects, Puravankara, Sobha and Sunteck Realty. (agency)



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