50% of workers fear losing job in next 12 months: Global economic survey

50% of workers fear losing job in next 12 months: Global economic survey
In Saudi Arabia, less than 20 percent of those who took part in the survey were very concerned about their jobs disappearing, compared to 39 percent in Spain. (AFP)
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Updated 20 October 2020

50% of workers fear losing job in next 12 months: Global economic survey

50% of workers fear losing job in next 12 months: Global economic survey
  • Saudi adults more optimistic of developing new skills for future jobs
  • 195m jobs lost worldwide amid COVID-19 pandemic: Egyptian minister

DUBAI: More than half the global workforce fears being made redundant in the next 12 months, according to a World Economic Forum-Ipsos survey.

The study, released on the eve of the World Economic Forum’s (WEF) Jobs Reset Summit, questioned 12,000 adults in 27 countries about employment prospects during the ongoing coronavirus disease (COVID-19) pandemic.

And although at least 50 percent were concerned about losing their jobs over the coming year, two-thirds of workers worldwide said they could learn the skills needed for the jobs of the future through their current employer.

In Saudi Arabia, less than 20 percent of those who took part in the survey were very concerned about their jobs disappearing, compared to 39 percent in Spain.

While the findings painted an overall gloomy picture of the global job situation amid the COVID-19 outbreak, they also highlighted green shoots of optimism, particularly in the Kingdom.

Around 18 percent of Saudi workers were not at all worried about losing their jobs, more than the global average of 17 percent.

On learning, Saudis were even more enthusiastic, with 39 percent confident of gaining the necessary skills to compete for the new job opportunities of the future.

During a WEF discussion on the impact of the global health crisis on employment, Rania Al-Mashat, the Egyptian minister for international cooperation, described the COVID-19 pandemic as a mix of many crises that had rendered 195 million people jobless around the world.

But she said that Egypt’s young population offered great opportunities for the country and the government had already rolled out plans to tap into youth development before the virus outbreak.

“The Egyptian government has taken comprehensive measures to reshape the education system incorporating a significant technology element to the sector and this turned out to be very useful for home schooling during the lockdown,” the minister added during a session titled, “Building a New Economy and Society.”

Al-Mashat pointed out that Egypt was adopting the principles of stakeholder capitalism, and in order to utilize the energies of its youth had been actively creating entrepreneurial space and building a strong digital infrastructure. She said there had been many policy movements, especially in the creation of gender equality accelerators.

Alan Jope, the CEO of Unilever and a speaker in the same session, said COVID-19 was not the only current world crisis, adding that economic, health, geopolitical, trade wars, climate change, capital wars, and a few looming military conflicts could be added to a global list of crises.

He also noted that gross domestic product (GDP) should not be considered the only economic measure. “Our measures for success need to change, we’ll have to look at social and environmental parameters, and not just the GDP.”

Jope predicted plenty of future jobs but not in traditional areas of work. “Most of the jobs will be created in the low-carbon sector, along with the IT and biotech industries,” he said.
 


Deliveroo raises $180 mln from investors, valued at $7 billion

Deliveroo raises $180 mln from investors, valued at $7 billion
Updated 17 January 2021

Deliveroo raises $180 mln from investors, valued at $7 billion

Deliveroo raises $180 mln from investors, valued at $7 billion
  • Deliveroo is set to hold an initial public offering in the coming months
  • The internet giant's stake is not expected to increase as a result of its participation in the latest round of fundraising

LONDON: British food-delivery company Deliveroo said on Sunday it had raised a further $180 million from existing investors, including minority shareholder Amazon, in a move that values the business at more than $7 billion.
Deliveroo is set to hold an initial public offering in the coming months, in what would be the biggest new share issue in London for three years.
"This investment will help us to continue to innovate, developing new tech tools to support restaurants, to provide riders with more work and to extend choice for customers," Deliveroo founder and chief executive Will Shu said.
Britain's competition regulator approved Amazon's May 2019 purchase of a 16% stake in Deliveroo in August, overruling objections from local competitors Just Eat Takeaway and Domino's Pizza.
The internet giant's stake is not expected to increase as a result of its participation in the latest round of fundraising, which was led by U.S. investors Durable Capital Partners and Fidelity Management & Research.
Deliveroo operates across 12 countries, mostly in western Europe but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It did not state how much each investor had contributed in the latest funding round.
The company said it would spend the $180 million on expanding delivery-only kitchen sites, on-demand grocery deliveries and subscription services, as well as allowing more restaurants to take orders from via own websites.