Create a job loss fund

It should cover mandatory expenses, insurance premiums and loan instalments for 6 months to a year

Priya Nair 

After almost a decade since the Lehman crisis in 2008, job cuts are again making headlines. Whether it is an HDFC Bank (which reduced headcount by 4,500 in the third quarter) or e-commerce firms like Snapdeal, a large number of companies are pruning personnel consciously to save costs and conserve cash.  There are a lot of sectors like telecom, information technology and others which are likely to see headwinds due to an uncertain global outlook and consolidation. In India, job cuts get more difficult to handle in the private sector because there are few or no rule around ...

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Create a job loss fund

It should cover mandatory expenses, insurance premiums and loan instalments for 6 months to a year

It should cover mandatory expenses, insurance premiums and loan instalments for 6 months to a year After almost a decade since the Lehman crisis in 2008, job cuts are again making headlines. Whether it is an HDFC Bank (which reduced headcount by 4,500 in the third quarter) or e-commerce firms like Snapdeal, a large number of companies are pruning personnel consciously to save costs and conserve cash.  There are a lot of sectors like telecom, information technology and others which are likely to see headwinds due to an uncertain global outlook and consolidation. In India, job cuts get more difficult to handle in the private sector because there are few or no rule around ... image
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