The Associated Chamber of Commerce and Industry of India (Assocham) has said that there is going to be a 25-30 % job cut in India Inc. It includes IT, aviation, steel, financial services, real estate, cement and construction. Well, that accounts for a lot of jobs. By most conservative studies, the total work force in all these sectors will add up to around 3-5 million. So, at least 1 million layoff!
The optimist in me estimates that at least 500,000 jobs will be cut. And they have named this "Job Scenario post Diwali". What else can be more insulting!
They haven't named any of these companies. But as per this news, it is gonna happen in 10 days. So, is it a Black November?