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.
Just because some companies are laying off people doesn't mean we are headed for a recession anytime soon. Laying off workers is a specific strategy adopted by companies to maximize profits. Moreover, the world is now much better off from the COVID-19 economic situation. Moreover, since the current situation is dependent on technology, people are engaged in earning more from home or some are choosing to become entrepreneurs. Moreover, when people cannot create jobs, it also means that the country's human resources are much more than the requirements i.e., overpopulation.