Unemployment Could Rise Sharply Due to Coronavirus
According to the Leadership Capital Consulting recent prediction about the business levels in the upcoming 2021, it is highly unbearable for the companies
As CoronaVirus is ruling every part of the world’s population, existing and new job offers are at high risk for the companies. Several economists predict that leading normal life will be an exclaimed question mark for the next six months after CoVid abolishment. But the pandemic situation is unpredictable of its stop time.
CoronaVirus positive cases in India is increasing day by day, and the National Health Mission Tamilnadu tweeted the six new positive cases today as “6 new positive cases of Covid19 in TN, two-family contacts from MDU CN12, two contacts from Erode CN5, 6, 1 contact of CN14 of Chennai, one 25yr old fem, resident of Chennai, admitted in Ariyalur GH reported positive making the total tally to 35 so far.” After testing the contact people under isolation, it is found that six people acquired positive results of CoronaVirus.
According to the Leadership Capital Consulting’s recent prediction about the business levels in the upcoming 2021, it is highly unbearable for the companies to get into the routine process due to the CoronaVirus Lockdown.
The Headhunting and Staffing Federation firms in India states that the industries will stop almost 50% of its production and also confirms the halt and curtailment of 50-70% of employees until getting back to a general lifestyle. The firms claim that they are preparing to face the worst in the upcoming fiscal year 2021.
Leadership capital consulting CEO Murthy says that “There will be no hiring and only firing is all in our plan for the April to June. He also said that interview calls for the new employees are indefinitely postponed due to the CoVid lockdown. Alongside, employees who sanctioned in hiring by companies are also kept on hold from now on”.
Meanwhile, Staffing Federation of India CEO Rituparna Chakraborty claims that their “Main focus is to clear the payments of its workers under 110 organizations until March without any debt. Priorly the company has prepared business plans for the 2021 financial year in a non-CoVid circumstance. But now the board is to abort business plans, and further operations will be based on assumptions since no one knows what’s waiting over on future”.
This is a huge turn off news to all the staff of India, and the employees are processing back their resignation notice and plan to stay back in the current firm to hold back the existing job in this low economic period.