Paycuts,lay-offs and dismissals-Lockdown aftermath

Published On: Saturday, April 25, 2020 | By: Team KnowMyStock

Despondency is taking hold of employees at startups in India that are shrinking operations amid the Covid-19 lockdown putting jobs on the line. Over the past four weeks, at least two dozen top companies have fired employees and contract staff according to sources. Some others have cut salaries, according to some data available. The salary cuts range from 15% to as much as 50-70%. Some have put a few of their employees on the bench. The government has been consistently urging companies to refrain from layoffs and pay cuts as they cope with economic distress. A common thread at all firms is a high level of anxiety, fear of the unknown, and pressure to outperform in a suboptimal market.

Source: various sources

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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