Big Layoff 2022 | Impact on Companies, Economy & Individuals | CA Rachana Ranade

"Is the situation going to persist in 2023?"

"well unfortunately there are strong indications that this situation may persist in 2023 again"

"Now if you see from January to February, March you can see this number was continuously dropping and now if I check out the latest data which is available with me right now January 2023 that's just the previous month data you can see this number has fallen down to 40 percent"

"if they are there are layoffs it is going to lead to unemployment, if there is unemployment it will lead to low disposable income that will further lead to low demand which will further lead to low production and low sales going ahead with low profitability and again it is going to complete this Vicious Circle wherein this is going to again lead to layoffs."

"The third point is again a very very important one and that is creation of an emergency fund"

"The second thing can be creating a side hustle or creating a side income"

"The very first remedy is making ourselves industry competent now what do I mean that what do I mean by that simple thing is that keep yourself updated try and get more and more knowledge about the latest industry trends so that just in case if you lose one job you should be confident enough that yes I am updated with the latest trends and I will apply for another job and I will be in a position to get another job."