Coronavirus And The Jobs Lost In Pandemic

Coronavirus And The Jobs Lost In Pandemic

Job Losses during the coronavirus pandemic shows a grim picture of the country‚Äôs employment scenario. Whether you’ve been laid off or on indefinite leave without pay, the situation is burning a hole in everyone’s pocket.

In the new data by Centre for Monitoring Indian Economy (CMIE), unemployment in India has mounted to 24.3% in the week ended May 24. In this period of a pandemic, the Urban unemployment rate is 22.72%, while the rural unemployment rate is 25.09%.

The CMIE data had already shown that around 121.5 million people were jobless in India in April 2020. Of the 121 million, daily wage earners and employees in small businesses found to be in bulk. Uncertainty continues to loom over until the demand comes. The figure fell by nearly 20 million in May because of the relaxation in nationwide lockdown.

The lockdown since March-end drastically hit jobs, startups and businesses among various industries. It wreaks havoc on lives and livelihood. Given data is just an assumption or it could be nearabout, the ground reality could be worse.

What’s More Devastating?

Migrant Laborers are the worst hit by this pandemic. The government couldn’t make up to it by supporting migrant workers. The shortage of basic amenities leads them to go back homes on their own. Whenever something pops up, the poor are the ones to face it. These people direly need help.

After this, middle-class people who are working as employees in some companies suffer. What’s more devastating is the bizarre behavior of companies and factory owners. At the beginning of lockdown, ‘salary slash’, ‘layoff’ and ‘indefinite leave’ become the trend. This all happened, despite the government’s advisory of not slashing salaries.

News Agency ANI reported that the Finance Ministry has asked labour ministry to collect data on the jobs lost in pandemic.

Coronavirus And The Jobs Lost In Pandemic
Source: Insider

We all are in this terrific situation and know that businesses hit harder. The economy shackled worldwide, but the process of companies to convey this salary slash kind of message is terrible. Some companies just sent a mail or some just drop a WhatsApp message that “You’re on indefinite leave”. Without even assuring job security or advanced salaries, companies cut-off all ties with their employees through a single message.

Just, take a look at this-

  • Uber fired 3,700 workers over a 3-minute Zoom call
  • The Times of India allegedly sacked its Sunday magazine team. Journalist Nona Walia claimed, “The entire team of Sunday magazine of Times of India asked to leave. Got a call from my boss Poonam Singh. Sacked after 24 years from a company I served with love for more than two decades. Wow.”
  • Social commerce startup Meesho laid off around 150 executives.

There are many more cases like this where employees even did not get a termination letter or proper support of the company. Companies must understand the importance of communication. Under Communication kills relationships. This practice just brings the company in a nasty shade. Some even so-called companies are also using this lockdown as the major reason to not inform an employee personally. This is totally devastating and degrading employees’ morale.

What Are The Options?

Coronavirus And The Jobs Lost In Pandemic
Source: Unsplash
  • The whole situation is worse for everyone, including people who have lost their jobs and people on indefinite leave without pay. Still, panicking is not an option. Times are tough, but this too shall pass. Companies slashed employee’s salary and some even sent them on unpaid leave. If your company has not given you a job security letter in written form, looking for opportunities is a better option.
  • Start circulating your resume on platforms like LinkedIn, etc. Brush up your skills in this lockdown period. You deserve a better job after this all ends. Invest in upskilling and reskilling yourself. Find some freelancing projects side by side.
  • The future is digital. Put your hands on the e-commerce platform and start something online. All businesses will operate digitally in the upcoming time. In this lockdown, digital platforms are working indubitably good.
  • This period could be a blessing in disguise for some people. After this lockdown, demand will hit the market and it will skyrocket some businesses. If you think you’re at the right place in the company, then waiting is a suitable option. You can expect a big increment next year. Try this option, if you have savings to stay afloat in this situation.
  • Last, but not least, save as much as money you can. Nobody knows when will this pandemic go. Start cutting down expenses of eating outside and unnecessary expenses. Prioritize your things, because money is paramount in this situation.

Also Read: Taming The Dragon: Economy To Geopolitics

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