India’s biggest firms have retained employees, rest have seen massive cuts
- With barely two out of ten workers in some kind of a salaried job, India has always had a very skewed workforce. The pandemic has only sharpened the divide
The good news first: Contrary to fears that Indian companies would retrench workers on a massive scale to cut back on wages, the actual cutback in the overall corporate wage bill has been fairly modest in the first half of this fiscal year (Apr-Sep 2020).
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