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.
When a company can no longer handle the expenses that's accrued to them, what do we expect, I think redundancy is better than going bankrupt, a company whose monthly or annual profit is no longer enough to pay their actual work force number should either sells of their stake or remain relevant in the market by doing the needful.
If we should consider the the things that are happening now, I will say that many countries are in the recession already.
Some countries can no longer sustain their workforce because of this recession but though this might be as a result of the government mismanage of funds meant to be used to foster more production.