Over 71 per cent workers worried about potential layoffs due to market inflation: Report

Source | economictimes.indiatimes.com | PTI
More than 71 per cent of people surveyed are worried about potential  layoffs  due to  market inflation , while 36 per cent believe over-hiring is the reason for attrition, a report said on Thursday. According to a report by HR solutions provider  Genius Consultants , 30 per cent of the respondents said that cost-cutting is the reason behind the layoffs, and 23 per cent blamed the mass economic downfall as being the reason.
The report – Layoffs to Gauge the Present Work and Mental Scenario of Organisations and Employees – is based on a survey of 1,537 executives across sectors, including banking and finance, construction and engineering,  eEducation , FMCG and hospitality.
As per the survey, organisations are struggling to balance their workforce with the available resources and are facing financial challenges or looking to improve their profitability by reducing expenses.
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