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Layoffs Due to Coronavirus

LAYOFFS DUE TO CORONAVIRUS First Major Reported Layoff in India: On 19 March 2020, Bounce, a Scooter Rental Startup, laid off 120 employees. First Major Reported Layoff in the World: On 27 March 2020, Reitman (Canada) Ltd. a clothing company, reported a lay off more than 6000 employees. Industry wise layoffs: Automotive 8.6% Consulting Travel 5.2% 27.6% Tech 20.7% Real Estate 1.7% Retail 3.4% Healthcare 6.9% Consumer Goods 15.5% Based on analysis of 200 companies which laid off their employees Major Layoffs in India: Udaan 3500 Indiabulls 2000 Ola 1400 Swiggy 1100 Raymond 1000 Нехаware 800 800 520 Cure.fit Zomato Foodpanda 500 450 350 Livespace Makemytrip 270 250 Bookmyshow Traveltriangle Lendingkart 200 Cardekho 200 Meesho 200 1,000 2,000 3,000 4,000 Major Layoffs in the World: Air Canada 20000 Renault 15000 Hertz 10,000 Rolls-Royce 9000 Norwegian Airlines 7300 7000 Вoeing Under Armour 6700 Cirque du Soleil 4679 Uber 3700 Sephora 3000 GE 2500 5,000 10,000 15,000 20,000 (The data is based on news till 5 June 2020) Unemployement Rate of Top 5 Economic Countries Country Jan 2020 May 2020 US 4.4% 5.3% 2.4% 3.3% 7.2% 14.7% China Japan Germany India 6% 2.6% 3.5% 23.5% Worst News: • The global airlines industry said it will need up to $200 Billion in emergency support. • Norwegian has cut 85% of its routes and laid of 90% of its staff. • The US travel Association is projecting that close to 5 Million travel- related American jobs will be lost. • Analysts predict that the global film industry is facing a US$5 billion loss from diminished box office revenues and production restrictions. • 7 million youth in age group of 20-30 years lost their jobs in April. Best News: • Amazon is adding 100000 new jobs to manage the demand generated by the pandemic. • Due to their key role, all pharmaceutical companies are poised to benefit from coronavirus. • Videoconferencing startups like Zoom reported an increase in sales and share price by over 50% in 2020. • Over $49 Million has been raised by 8 EdTech startups recently Facts: • Online Shopping Spiked 55% Globally Week-Over-Week. • 46% of people who never worked from home previously now plan to work from home more often in the future. • Consumers are now more mindful of what they're buying and wasting less than ever. • 43% of consumers are considering paying for a subscription service like Netflix & Amazon Prime, they didn't have before the outbreak of coronavirus. • 70% of startups have their survival at stake with less than three months of runway left. Major sources of our research Brought to you by . https://tradingeconomics.com/ • http://qz.com/ . http://economictimes.indiatimes.com/ • https://www.reuters.com • https://www.moneycontrol.com • https://www.dailymail.co.uk https://www.businesstoday.in • https://entrackr.com • https://www.livemint.com • https://www.newindianexpress.com • https://www.cnbc.com • https://www.hindustantimes.com/ • https://www.businessinsider.in https://www.statista.com/ • https://www.hkstrategies.com/ • https://startuptalky.com/ • https://www.networkworld.com/ • https://www.tribuneindia.com/ • https://www.lexology.com • https://trak.in/ • https://www.outlookindia.com/ • https://www.peoplematters.in/ • https://www.huffingtonpost.in/ • https://www.calcalistech.com/ • https://www.livelaw.in/ • https://www.newslaundry.com/ • https://www.theweek.in/ • https://www.thequint.com/ • https://www.inventiva.co.in/ • https://analyticsindiamag.com/ · https://www.freepressjournal.in/ Startup Talky StartupTalky.com

Layoffs Due to Coronavirus

shared by lakshyas155 on Jun 22
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Its a comprehensive infographic telling shocking facts related to the layoff scenario in India and the world, which are happening because of Coronavirus Pandemic.

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Lakshya Singh

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Economy
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