Home News Business The effect of layoffs around the world, two-thirds of the people are afraid of losing their jobs

The effect of layoffs around the world, two-thirds of the people are afraid of losing their jobs

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The effect of layoffs around the world, two-thirds of the people are afraid of losing their jobs

For more than a year, the whole world is troubled by the impact of Global Layoffs. Be it new startup companies or well-known and old corporates, everyone is affected by this wave of retrenchment. The situation is such that even the big companies of the world are resorting to retrenchment. It is natural that in such an environment one should be afraid of losing his job. A recent survey has also confirmed this.

These things came out in the survey

Genius Consultants, a company providing HR solutions, conducted a survey to know the opinion of people about this. Surprising figures came out in the survey. In this survey of Genius Consultants, more than 71 percent people told that they are afraid of losing their jobs. He said that he is afraid of being fired due to the effect of inflation in the market. Similarly, 36 percent people believed that due to excessive recruitment, employees leave the job.

Layoffs due to these reasons

The survey also asked people about the main reasons for the current round of layoffs. In response, 30 percent of the people surveyed attributed the efforts of companies to reduce costs. At the same time, 23 percent of the respondents said that the decline in the economic situation at large is responsible for this phase of retrenchment.

report prepared in this way

Genius Consultants released a report titled Layoffs to Gauge the Present Work and Mental Scenario of Organizations and Employees after the survey. For this, the company spoke to 1,537 executives from sectors ranging from banking and finance to construction and engineering, education, FMCG and hospitality. The company prepared this report based on the responses received from all the respondents.

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This challenge before the companies

Only 11 per cent of the respondents in the survey believed that technological progress and dependence on manual labor are responsible for the retrenchment. At the same time, 57 percent people have concerns about job security in their company in the current situation. According to the survey, companies are struggling to strike a balance between available resources and existing workforce. They are facing financial challenges in increasing their ability to earn profits by reducing expenses.

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