by GigglyWaffleStealth
Why layoffs ? What's happening with it sector ?
Been hearing layoffs again and there are less hiring what's the actual reason for this and when this become normal
Layoffs
on
DancingDonut
I don't see layoffs happening in core industry sector.
Is that the case or I might be wrong?
11mo ago
Find out if you are being paid fairly.Download Grapevine
CosmicDumpling
Stealth11mo
a 10 year exp guy might be at a pay of less than 10 lpa. why would they even have any kind of layoff.
DizzyMarshmallow
Swiggy11mo
Hire and fire is only for startups and tech cos.. not for traditional core businesses. They have solid visibility and planning systems in place unlike startups where the core business model is to raise money then burn that by paying random salaries and then fire once the money is over. Then start over again. Services, tech, softwares are replaceable but not physical core products iron, steel, cement etc. They will continue to flourish at slow pace. Remember that it was tortoise who won the race. If you are rabbit, then someone is going to eat you for sure.
BouncyCupcake
Came to comment exactly this.
And to people who are saying core industries pay less - bulge bracket intl. banks, consumer goods, consumer durables, Indian banks, real estate, lala cos.. are paying equal to, if not more than so called glitzy startups.
Plus CTC is almost 90-95% cash, no ESOP bull$hit
Only thing these startups had going for them was the body of work. I can become GPM from APM in a very short time provided I prove my worth. Which doesn't happen in core companies due to set processes. Nowadays one would pick a stable low growth company over a startup given how the goodwill has nosedived
BouncyQuokka
EXL11mo
Right. Employees have slow growth but they live comfortable life on the outskirts of a tier 2-3 city. Decent schools for children, low cost of living and stable job. Frequent gatherings of family for functions, sports activities and life long bond with colleagues.
ZoomyMuffin
Stealth11mo
What do you mean by Core industry?
Jindal, Bhushan Steel and entire steel sector was suffering till 2020s due to Chinese dumping. Coal, Power & Energy: Complete loss making due to stalled projects, falling prices & too much supply till the Russia war. Transport: Jet Airways, Go Air fiascos Banking: 2010s were decade of debacle Real Estate: There's a list of builders that went under after Demo/RERA.
IT (US Tech & India) had been the most stably growing sector with margins since 2001 bubble burst way till 2022. What you are quoting is just recency bias and a correction of surpluses, which happens in every industry.
Discover more
Curated from across
Layoffs10mo
by BouncyUnicornBetterplace
How is there no correlation to layoffs and Real Estate?
We've witnessed so many layoffs in the past year and this continues to be an upward trend. Bangalore is a city of IT professionals and these layoffs seem to have no effect on the real estate. Is this because the numbers are negligent? ...
Top comment
There is a lag effect, give it a few months and you will see rents and prices not increasing anymore
by MagicalBiscuitStudent
Hardware companies and software profile
Hey guys a master's student here . So it's finally that time of year placements have started and the first companies to arrive are the hardware companies like micron , TA etc
So here's the question is it ok to start your career in thes...