Layoff wave: 65% employees feel demotivated about work due to uncertainty

Apart from global tech layoffs which have already left more than two lakh people jobless and threaten many more, 18,000 professionals have been fired by Indian startups. As the job cuts spillover into other industries, 65 per cent aspirants say they feel demotivated due to the gloomy situation, and are less likely to put extra efforts at work.

Demotivated and looking for flexibility

A survey by job searching platform Indeed found that uncertainty in the market has also bogged down enthusiasm among employees at their current job. More than 50 per cent are already bored at the workplace, and about half of that number are honing their skills in search of new opportunities. A healthy work life balance as well as flexibility and happiness were priorities for close to a quarter of all employees surveyed.

Employers remain hopeful

At the same time employers were relatively positive with almost half of the firms eyeing a 20 per cent rise in hiring for 2023. But 64 per cent firms hired in the October to December quarter this year, compared to 78 per cent in the two quarters before that.

Global economic shifts have caused the dip, while inflation and job cuts have been in focus.