Global Recession and Layoffs in Indian Jobs

What are the effects of a global recession?

The global economic recession led to a worldwide consumer spending and business investment downturn. This led to a decline in exports, leading to a sharp slowdown in economic growth in many countries.

Why are companies forced to fire employees?

These layoffs occur simply because employees don’t make any money anymore! Companies spend money on hiring new people instead of investing in their existing workforce as they had done earlier.

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