#BYMDoppio☕☕: Decoding the Impact of Layoffs and Recession in India
Byju’s in India has laid off thousands of their employees, swiping off some of the entire teams at one go.
It’s officially the layoff season! Every now and then, I am hearing the news of some big company laying people off in huge numbers. Almost every big company around the globe, including Meta, Amazon, Twitter, and Apple are dealing with the ongoing recession through layoffs and cutting costs.
India is in no way behind the layoff season, and some of the big Indian companies and startups are also cutting the number of employees to save their money on people. Byju’s in India has laid off thousands of their employees, swiping off some of the entire teams at one go.
But why are these layoffs happening at once? And, is the situation really that bad for those people who got kicked out of the company, except of course for those belonging to Twitter?
Recession is that one phenomenon that comes once every ten or twelve years. During this time, companies tighten their belts to save up costs by cutting the workforce, because that’s the easiest way of saving up money. It turns out, the situation is not that dire for most of the people that are being put off the company’s list. But how so?
Find out in this week's Brew Your Market Podcast, where Rakshit and Praney decode the impact of layoffs and recession in India. It has been predicted that the coming 6-8 months could be even worse for people with jobs as the market would go down even lower.
Rakshit and Praney talk about how the recession graph will turn out after 6-12 months, its impact on employees and the hiring session, and what should be done to overcome the impact of the recession with many fun stories in between.
Don’t forget to tune in!