A stronger-than-expected first-half performance will see the big four firm return another portion of COVID-19 pay cuts to its staff, along with a one-off “thank-you payment”.
outlookindia.com 2021-01-28T11:25:29+05:30
IT doesn’t bear reiteration for most of us, but a new survey report puts in print the obvious: the employment scene in India is worse than two years back, particularly for the salaried class. Still, the findings are unexpected, given the optimism that the lifting of the lockdown would push things towards normality, as economic activities pick up and jobs are created. It really hasn’t worked out the way it was envisaged, as work from home (WFH) seems to remain in vogue globally, leading to a shift towards flexi or contract jobs.
“The employment scene is quite bad. We did see some improvement in September, when it rose to 398 million. But there has been a steady deterioration, though not worrying, in the last three months, with the number of salaried jobs falling to 389 million in December, which is lower than two years back, when it was 398 million,” says Mahesh Vyas, MD and CEO of Centre for Monitoring Indian Economy (CM
Coronavirus UAE: How to boost savings amid pay cuts, job losses
Photo: Alamy
More than 80 per cent people said that their incomes were affected by the pandemic
Last year with all its movement restrictions, health issues and advisories, pay cuts and redundancies, in many cases, was difficult for many of us. The unusual nature of 2020 tested not only our mental and physical resilience but also our aptitude for managing money matters. How we fared as individuals and families is personal, yet there are lessons that can be learnt and remembered from each other’s experiences.
A survey conducted by MyMoneySouq, an online aggregator of financial products and services, in the last quarter of 2020, highlights the experiences of over 440 individuals and families in the UAE.
Honey, they shrunk my salary!
Honey, they shrunk my salary!
BySridhar VivanSridhar Vivan / Updated: Jan 13, 2021, 06:00 IST
With school and pre-university (PU) colleges limping back to the old normal by resuming
offline classes, the hurdles are not yet over for PU college lecturers. Many of these
lecturers have had
pay cuts going up to 50 per cent, and a reduction in
leaves. While management blames students for not paying their full fees, teachers also fear being put on covid duty.
A PU college lecturer said, “My take-home salary has been reduced by half. There is no clarity on when I’ll get my full salary again.”
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