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hospitality , travel industry to cut a lot of jobs
a lot of airlines in the usa – american airlines , delta , united are negotiating with unions to cut wages , offer retirement packages ..
american airlines likely to layoff 16,000 employees , delta around 6,100 pilots , united – as yet unknown
mgm resorts , which had furloughed 18,000 people will now fire them permanently
if the demand was coming back soon , these companies would not be firing people now , would they ? so , all this talk of a vaccine coming soon is just used to take the stock market up ? something stinks here..,
it’s not just the hospitality and travel ,even the great coca cola is cutting jobs as the covid 19 crisis cuts into the sales
as for the IT industry in India ..
- cognizant laid off close to 10,000 people in the last 3 – 4 months
- accenture will be laying off 5 % of it’s global workforce ( a lot of them will be in india )
- the work from home culture has reduced the demand for rental apartments – their rents have gone down due to a higher supply
if you want to divert attention from the crisis – high unemployment , covid 19 deaths and other problems that your country is facing , what do you do ? create a diversion – like the sushant singh rajput mystery – keep people busy in the media stories so that the real issues are not discussed…
or you start a war or pretend to go to war – just to rally the people around you – pseudo patriotism