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China’s once-resilient tech economy starting to crack under pressure from coronavirus economic carnage
In the first quarter of 2020, the number of Chinese recruitment postings across all industries fell 22.6% compared with the same period last year. A survey found that 5.4% of tech firms experienced job cuts while 12.9% have reduced contractors, interns and part-time employees.
“Sharing economy” firms like Uber and Airbnb were seeing surging growth and predictions they would reshape several economic sectors. Then the pandemic hit.
MUMBAI: The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani’s digital business, as Asia’s richest man seeks to expand his operations outside oil and petrochemicals, sources said.
As Netflix Inc thrives amid coronavirus lockdowns, the company is passing along the cost of a new digital tax to Mexican users who are hunkered down to avoid contagion.
PETALING JAYA: The once vibrant Malaysian tourism sector, which has been hit hard by the crippling effects of the Covid-19 pandemic, will need to prepare for one of its steepest recovery slopes in history.
In a world where the coronavirus pandemic has turned social distancing into a new way of life, companies whose business models bank on people's willingness to share their personal space are now struggling.
Airbnb don't know when exactly people will travel again after Covid-19 and is laying off nearly 1,900 employees, comprising about 25% of its global workforce.
Airbnb said May 5 it will cut almost 1,900 jobs as the short-term home rental company deals with the fallout from a travel industry wracked by upheaval stemming from the coronavirus pandemic.
Earlier this week, property consultancy Knight Frank said global companies are delaying making leasing deals in the Asia Pacific.
Travel companies that focus on experiential tours are going virtual to keep wanderlust in check during the Covid-19 pandemic and the movement control order (MCO) in Malaysia.