Word: unrested
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...amid the worst economic crisis in memory. As unemployment rises throughout the region, government officials and executives from Tokyo boardrooms to New Delhi ministries are scrambling to find ways to minimize mass layoffs. Part of the urgency, especially in countries like China, is to reduce the risk of social unrest as the number of jobless escalates. But part of the motivation is a very Asian perception of corporate responsibility. "For each (employee), I believe, the workplace exists not only for earning a living, but also for making friends, growing up and making a contribution to the society," Akio Toyoda said...
...China equities at JP Morgan in Hong Kong, believes some 60,000 businesses closed in the region, and the government estimates about 10 million migrant workers are unemployed. The downturn has put "huge stress on the job market," says Credit Suisse economist Dong Tao, which "could cause some social unrest. That's my worry...
...Lithuania BALTIC RIOTS Just days after clashes in the Latvian capital Riga, unrest triggered by mounting economic woes spread to neighboring Lithuania, where protesters in Vilnius hurled eggs and rocks through the windows of the Parliament building (above). After enjoying years of rapid growth, the two former Soviet republics have been pummeled by the global financial crisis; Latvia has experienced the sharpest economic reversal among E.U. nations. Discord over controversial reforms has imperiled their governments, with members of Latvia's ruling coalition calling for early elections...
...artwork. On Monday afternoon, the board of Air France-KLM approved a deal to acquire a 25% stake in the Italian carrier for $414 million. Linking up with another major foreign airline was widely considered the only way that Alitalia could survive following years of cost overruns, labor unrest and political meddling that has led to more than $3 billion in state aid since 1998. (See pictures from Italy...
...last Wednesday, have virulently opposed the new consortium, which has trimmed the 20,000 work force by some 3,000, and cut pay and benefits to those employees who remain. Unions say that joining up with Air France is essentially the death knell for the Italian carrier. More labor unrest is expected. But many ordinary Italians will finally be satisfied that an apparently viable solution had been found to avoid more public investment or outright failure of the national carrier...