'Recession' is less cited to teams today in corporate India. The job market is up and coming. Everyone's a keen observer of the business and economic trends these days.
Employees lay low and even still as companies have used and abused whether rightfully or not the recession period as a chance to fire their employees, cut down various perks, even salaries, tighten the finance outflows and so on... To broadly define it, companies have done a great deal of restructuring whether in a planned manner or as a knee-jerk reaction - some interventions with high impact some low. Some strategically, some tactically; a few with long-term vision, and many blindly fighting issues at hand.
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Well, the jobs market is teeming with openings again, and time will tell how rapidly the graph would rise, and then, we'll see a high level of attrition, only this time, it'll be called 'Employee backlash'.