India, along with the rest of the world, is witnessing a wave of layoffs. Over the past two years, an estimated 100,000 people have been laid off by tech firms alone in India and other sectors have not been immune to the contagion either. Blame it on choppy revenue figures, falling valuation, supply chain disruptions and other factors.
The job losses come at a time when unemployment is high and prospects seem bleak. Also, other than the economic cost of job losses, there are social and emotional implications. India, therefore, needs some sort of safety net.
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