With demonetisation set to reduce India’s economic growth by 1% over the next one year, the job market is likely to see over 400,000 job cuts.
You should worry if you work in the e-commerce sector, since firms could handover around 200,000 pink slips in the next one year. “Cash on delivery being almost 70% of the overall e-commerce business, the sector is likely to take a hit and lose almost 20% of their headcount in the next few months,” said Rituparna Chakraborty, co-founder at staffing firm Teamlease Services. E-commerce firms currently employ around 1 million people in India.
“Companies manufacturing and selling luxury goods would also be immediately impacted,” Chakraborty added.
Real estate, construction and infrastructure are the others that are likely to feel the heat of demonetisation. Recruiters and head hunters expect the sectors to lose over 100,000 jobs in the next 12 months.
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