Corporate India bleeds jobs as slowdown bites

With no signs of a turnaround in the economy — manufacturing output has fallen by 0.2% year-on-year between April and July while growth in private consumption dropped to a decade's low of 1.6% in the first quarter of the current fiscal — corporate India is hunkering down. The slowdown in industry has meant large layoffs. An FE survey, across select sectors, threw up a number of close to 2 lakh job losses in the last eight to 10 months.

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