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64% Private Sector Employees Unaffected By Job Cuts, Survey Finds
Writer: Tanveer Singh Kapoor
He is pursuing my masters in journalism at Symbiosis Institute of Media and Communication, Pune and aspires to be a sports journalist.
India, 7 Jun 2023 8:32 AM GMT
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A literature lover who likes delving deeper into a wide range of societal issues and expresses her opinions about the same. Keeps looking for best-read recommendations while enjoying her coffee and tea.
Creatives : Ankita Singh
A literature lover who likes delving deeper into a wide range of societal issues and expresses her opinions about the same. Keeps looking for best-read recommendations while enjoying her coffee and tea.
The survey was conducted on a sample size of 9,657 people across 33 states and union territories, of which 68% belonged to rural India and 32% to urban India.
A survey conducted by consumer data intelligence company Axis My India on the India Consumer Sentiment Index explained optimistic consumer perceptions around the economy, employment, and technology adoption.
The survey was conducted on a sample size of 9,657 people across 33 states and union territories, of which 68% belonged to rural India and 32% to urban India, as reported by Moneycontrol.
A significant proportion of participants reported being unaffected by job cuts or layoffs, contrasting with some global economics. The survey revealed that 17% of the respondents were greatly affected by the recent layoffs and job cuts in the private sector. Meanwhile, another 19% said they were affected to some extent. However, most respondents, comprising 64% of the sample size, said they were unaffected by layoffs and job cuts.
Positive Sentiment Regarding Economy
Around 31% also expressed confidence that India will not face an economic recession in 2023 and indicated stability for the country’s economy. The survey also highlighted positive sentiment towards AI-related tools, with respondents acknowledging their ability to reduce workload and save time.
Overall, the survey reflects a sense of optimism among consumers, with positive sentiments regarding the economy, job stability, and the rise in the adoption of AI technologies, as concluded by the Axis My India survey report.
According to the report, the June net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +9, remaining the same as compared to last month.
Pradeep Gupta, Chairman & MD of Axis My India, said the survey underlined positive sentiment among consumers regarding the future of technology, the economy, and the job market. He added that their findings showcased a slow but growing acceptance and utilisation of AI-related tools, offering opportunities to streamline workflows and boost productivity.
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