Job Losses In Manufacturing Sector

A year and a half since its new law came, Andhra does not seem to have had any troubles. But the case for Haryana, a land-locked industrial state close to four big states, might be different

The blow from a virtual shutdown of a nation of 1.3 billion people has been so severe that economists are struggling to forecast how long it will take to recover

Major manufacturing firms axed about 30 per cent of staff in 2016 with levels of retrenchment expected to reach 40 per cent in 2017, according toTeamlease services, the largest human resources services company in the country.In an internal assessment of its more than 2500 corporate clients, the Fortune 500 company has found out that entry level jobs are at the most risk as companies continue to drastically cut costs and try to claw their way out of the current sinkhole of low growth that the sector has fallen in.This can be put in context by taking a look at the latest macro economic figures which showed that the economic growth has took an over three-year plunge in the first quarter of 2017-18. At 5.7 per cent, the growth was at the lowest level since the Modi government took charge. Demonetization and massive de-stocking before the launch of the goods and services tax (GST) regime took a toll on the manufacturing sector which grew by just 1.2 per cent in the first quarter of ...