The gig economy refers to a labor market characterized by the prevalence of short-term, flexible, and freelance work, as opposed to permanent employment. In this economy, individuals often take on multiple, temporary jobs or “gigs” typically facilitated through digital platforms or apps. This model allows workers to choose their hours and projects but also often lacks benefits associated with traditional employment, such as health insurance, paid leave, and job security. Common examples of gig work include driving for ride-sharing services, freelance graphic design, delivering food, and short-term consulting. The gig economy has become increasingly prominent due to advancements in technology and changing workforce dynamics, appealing to both workers seeking flexibility and companies looking to reduce hiring costs.
Strategic Acquisition in the Digital Banking Space In a significant move to enhance its offerings, U.S.-based payments technology giant Fiserv has announced plans to acquire Canadian digital banking firm Payfare.…