The last to do so was Vodafone, which yesterday announced up to 1,200 layoffs, a quarter of its workforce, under the justification that it needs to reduce its cost structure to survive the fall in income suffered by the price war between telcos. The banks, which since 2008 have cut staff by 93,481 professionals, 34%, continue to adjust employment in the face of the need to reduce their costs to cope with their low profitability and change the business model by digitization. In this scenario,Event Planning Template is already negotiating with workers’ representatives an ERE that could affect, according to the unions, between 2,000 and 2,500 employees. And Wizink, which was a digital subsidiary of Popular, has closed an ERE for 168 workers, 14% of its workforce.
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These figures, on the other hand, show different data regarding the two main actors. The United States and China already lose altogether 8.283 million euros of GDP -2.585 and 5.698 million respectively-, although it is the Asian country that worse off in all simulations.
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“Until now, the trade dispute between the United States and China has mainly harmed China’s economic interests. But Chinese retaliation tariffs on US products turn the American advantage into a loss, “said Gabriel Felbermayr, director of International Economics at Ifo.
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The commercial war has multiple faces . All the world institutions (IMF, OECD, WTO, World Bank …) have warned of the damage caused by the situation of tension and uncertainty surrounding the conflict between the United States. In fact, they estimated at 1.52 trillion the detriment that the world economy would suffer because of it.
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However, there are commercial figures that invite you to think about benefits. China could lose up to 33,749 million in one of the tariff simulations; USA, 9,458 million. Thus, the country chaired by Donald Trump would be benefited in three scenarios, being able to achieve a return on its GDP of 3,468 million.
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After the Germanic territory is Italy with a profit of 46 million and, later, Spain. Our country is aiming a profit in its GDP of 15.56 million, being able to reach the 32 million in one of the raised scenarios. Zara, the main chain of the Inditex group, has been reinventing in the last years not to lose its throne in the empire of fashion. In the book “Why some stores sell and others not in the digital age” by Luis Lara and Jorge Mas, the case of Zara’s success for having achieved “making the impossible possible” is exposed.
Ongoing takeovers will also lead to more layoffs in banking. The Event Planning Template will make in 2019 the restructuring of the commercial network after integrating the Popular, which will imply an ERE that, according to different estimates, could affect about 3,000 workers of a total workforce of 33,500 employees. The merger of Unicaja and Liberbank, which will add 10,849 professionals, would also result in casualties.