People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
It is true that many people have been laid off from their companies due to employee reductions. This is the impact of COVID-19, many companies have experienced a very drastic decline in turnover. Regarding the issue of a recession, I am not so sure this will happen, but the difficulty of getting a job is not only caused by the limited number of job opportunities which are far less than the number of job seekers. However, it is also because there is a gap between the competencies or skills required by the company and the skills possessed by the person himself.