Assocham, withdraws, job, cut, report

 Assocham has predicted that Indian companies are set to trim the workforce by 25-30% post Diwali. That study has invoked a lot of criticism and panic. I wasn’t thoroughly convinced about that study and did not feel like blogging about it. Now government and finance minister has rebuked the study and Assocham has decided to pull it off the shelves. 25-30% reduction in work force would lead to a slump in the realty, banking, commodities market. All the booming sectors depend heavily on IT. Most of us do not have a Raj Thackerey to defend. One can only imagine the civil unrest that will follow a massive scale cuts. India’s capitalism is an accident. Nehruvian thinking and socialism is still our DNA. That is the reason why you cannot hire and fire people as swiftly as you would like to. If you cannot fire then why bother conducting a study and reporting it.

Read my longer version at trak.in.