The latest to announce job cuts are Airbus and BMW. Companies across the world are cutting down jobs due to low sales triggered by Covid-19. The employment market is likely to be tight for at least 18 months till 2021 end, assuming that a vaccine is discovered by the first quarter of 2021 and is disseminated across the world between March and December 2021. Till the world is safe again after vaccination, people are going to be wary to spend and economic activity will be sluggish.

Clearly there is going to be a massive pressure for jobs in most markets. Unless a person is from a business family and can be absorbed in it or has ample savings, the future could be tough. It may therefore be wise for a person to stay on in his current job, even at a salary cut. It would be smart not to make any aggressive moves in the current situation. A job is a blessing these days. The wise will hold on to them.

Rajendra Aneja Mumbai

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