by Arvind SinghalOne of the most clichéd phrases of the last few weeks is that “current times are unprecedented in terms of uncertainty and economic turbulence.” If one were to add to the economic challenge the other challenges facing India at this time, the picture becomes hazier. These include a government that has never really governed the nation in its almost five years of existence and is now entering into the next general electionphase, one that will further stymie any determined action by the various policymaking arms of the state and central governments to provide some positive thrust to the economy. Besides, there is an environment of increasing internal insecurity and deepening social schisms.
Under such circumstances, notwithstanding the public furore on layoffs and the subsequent exchange of promises from corporate India to refrain from enforcing any mass attrition of workforce, it is inevitable that most businesses, big and small, will be looking at enforcing cuts in their overall wage bill.
Under such circumstances, notwithstanding the public furore on layoffs and the subsequent exchange of promises from corporate India to refrain from enforcing any mass attrition of workforce, it is inevitable that most businesses, big and small, will be looking at enforcing cuts in their overall wage bill.
Contributed By:
Param Shah
(Asst. Registrar - Globsyn Business School, Ahmedabad)
Param Shah
(Asst. Registrar - Globsyn Business School, Ahmedabad)
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