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Software development and technology firm Payoda is planning to increase workforce strength to 1,000, across domestic and offshore offices. Notably, the Coimbatore-headquartered firm has offices in Chennai, Hyderabad and offshore workplace in Texas, United States, Dubai and Romania, according to news agency PTI report.

Karunya Sampath, Payoda co-founder said in a company statement said, “Technological advancements over the past couple of years have triggered a pertinent need for stakeholders to expand their horizon through robust infrastructure and skilled human resources."

Sampath said, “to keep pace with time, we have put in place a strategic hiring plan wherein the strength at all our centres would improve. Even as we would continue to have most team members from India, we foresee expansion in our global teams in the near future."

Sampath further stated that the strategic need-based hiring plan for the next three years encapsulate all key departments such as technology, sales, human resources, administration and marketing. According to the company, employees work from office for three days in a week and have the flexibility to remote working for the remaining two days, the statement added. 

Meanwhile, in another development, the International Labor Organization said that stubbornly high youth unemployment three years into the pandemic risks forever trapping millions of early-career workers in informal, poorly paid jobs, according to Bloomberg. About 73 million people age 15 to 24 will be without work this year, 6 million more than in 2019, the Geneva-based institution said Thursday in a report, adding that the roung workers suffered because they were among the first to be let go when lockdowns shuttered businesses worldwide, and because firms stopped hiring.

“Young people who lose their job or fail to obtain one are particularly vulnerable to scarring, the phenomenon whereby their future labor-market outcomes are worse than those of their peers even when macroeconomic conditions improve again," the ILO warned. “They may end up accepting a job for which they are overqualified, which risks trapping them in an employment trajectory that involves informality and low pay," as per Bloomberg report.

(With inputs from PTI, Bloomberg)

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