Job loss is a big concern in the ongoing economic slowdown.

Prime Minister, Narendra Modi has angrily reacted to the criticism that the Indian economy is slowing down. There is no use in becoming angry, but needful actions, to put the economy on the right track, are required to be taken. Narendra Modi came to power, by assuring to create 1 crore jobs. It was not achieved. To the contrary, the Demonitisation and introduction of GST have killed a large number of jobs. Some details are as follows:-

v  67 textile units are shut down between 2015 and 2017, which have resulted in the loss of 17,600 jobs.

v  L&T has laid off 14,000 staff in the first 2 quarters of 2017. 

v  HDFC Bank’s net jobs losses in 2017 are 3,230.

v During the first 3 months of the Financial year 2017-18, TCS work force went down by 1,414; Infosys went down by 1,811 and Tech Mahindra went down by 1,713.

v  Suzlon Energy Ltd, ReGen retrenched over 1,500 workers in the last 6 months.

v  212 start up companies are closed down in 2016.

[Courtesy: Indian Express, dt.03-10-2017]