HENCY R SHAH AND ASSOCIATES

Companies Restructure, Cut 3,00,000+ Jobs In 2022: Will 2023 Bring Stability?   We are at the business end of the year 2022, which has hardly been a smooth ride for the Corporate Job ecosystem. The year 2022 marked the end of Covid-19 restrictions and the resumption of most economic activity. However, be it recession, inflation, employment crisis, or economic downfall, the ghosts of the pandemic can still be seen in various forms. Adding up to the crisis were job cuts that turned out to be one of the biggest crises that hit the world on the sidelines of the 2019 global health emergency. Be it cost-cutting, performance-linked layoffs, restructuring purposes, or something else, we saw lakhs of job cuts this year. Worst of all, the economic downhill ride that began nearly three years ago has still not been curtailed. Amazon and Meta, two of the biggest tech behemoths, kicked out several thousand employees in 2022. Besides them, nearly other 600+ enterprises laid off more than 3,0...

 Moonlighting ethically Valid or not?? IT major Wipro recently fired 300 employees for moonlighting, the term used for working with other companies at the same time. What is moonlighting? Moonlighting refers to working additional shifts or jobs outside one's regular job, usually without the primary employer's knowledge. Companies have opposed the practice, claiming that having staff perform multiple jobs impacts their productivity. Working from home became the norm during the COVID-19 pandemic, allowing employees to take up additional work assignments. Same competency, double delivery. Two different laptops, same WiFi, catering to two different clients — all from the comfort of own home, in own hometown. It was impossible to catch them. Then who caught them? revealing the secret method companies apply to catch moonlighters. The most innocent looking, unassuming —provident fund contribution was the reason the employees were identified. A provident fund (PF) is a government retir...

India To Be 3rd Largest Economy By The End Of The Decade With India overtaking the United Kingdom (UK) to become the world's fifth-largest economy, a State Bank of India (SBI) report forecasts that the country will overtake two other major economies by the end of this decade. The SBI Economic Research Department forecast that India will overtake Germany by 2027 and most likely Japan by 2029 at the current growth rate, making it the third-largest national economy in the world, a move up 7 places from 2014 when India ranked 10th. This is a remarkable achievement by any measure, says the report, authored by Soumya Kanti Ghosh , Group Chief Economic Adviser, SBI. For the first quarter of the fiscal year 2022–23, India recorded a GDP growth of 13.5%. The report states that at this rate, India is likely to be the fastest-growing economy in the current fiscal year. "Interestingly, even with an estimate of India's GDP While the FY23 growth rate is currently fluctuating between 6.7...