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Out of Work: Layoffs and furloughs across sectors have rendered thousands helpless

Behind the staggering number of layoffs are individual stories of loss — of income, financial security, confidence and identity. To capture some of the turmoil and anxiety, ET Magazine spoke to employees who have been recently laid off across various sectors

Source | economictimes.indiatimes.com | Indulekha Aravind

The figures are numbing. During the two-month lockdown to curb the spread of Covid-19 in India, millions have lost their jobs across sectors. The Centre for Monitoring Indian Economy estimates unemployment rate in April 2020 to be 23.5%, up from 7.6% a year ago.

Behind the staggering number of layoffs are individual stories of loss — of income, financial security, confidence and identity. That this blow fell during a lockdown — with the news conveyed over email, a phone call or a video call — has not helped.

To capture some of the turmoil and anxiety, ET Magazine spoke to employees who have been recently laid off across various sectors. While some have savings and a security net, others are in a precarious situation, with dependants and loans.

Click here to read the full article

Source
economictimes.indiatimes.com
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