India Witnesses Major Job Cuts Despite Having Fastest Growing Economy

India Witnesses Major Job Cuts Despite Having Fastest Growing Economy

Indian flag #WorkersStrikeBack: 180 Million Indian Workers Strike for Higher Minimum Wage (PHOTO) New Delhi — Despite claiming to be one of the fastest growing nations in the world, every day 389 people are losing their jobs in India. According to a study conducted by ASSOCHAM-Thought Arbitrage, around 70,000 workers were let go in the second quarter of 2015.

Livelihood opportunities in export units particularly shrank during this period. While the slowdown in global demand compelled some employers to conduct layoffs, the reduction was facilitated by the increasing contextualization of jobs as well as automation in some sectors.

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