Abstract

Today people with qualifications are still jobless and if an individual manage to get one, the fear of losing their job still haunting them. with advancement of technology and changing working culture every business house focuses on implementing those changes to gain more benefits but that cost livelihood of others. As most of the companies prefer to hire new ones rather than upscaling the skills of existing employees which results in large number of layoffs. With Unemployment already being the consistent problem of the country ,Layoffs is making these conditions worse. These layoffs became a trend now days in most of the sectors, among which sectors such as IT ,manufacturing ,e-commerce etc.in which adoption of technology advancement is a most common practice are affected most. There are more reasons behind the Layoffs but one thing that is common in all the cases is the suffering of the individuals who lose their jobs. The question of job security becomes more evident creating restless among both individuals who already have job and who are still searching. Layoffs are becoming serious threats to job security which is affecting many lives as well as the country as whole. The study will cover this critical issue as how it is becoming a matter of concern including data which shows clear picture of the current scenario and will discuss the problem with relevant examples to show the fact that It is a problem and we need to find ways to change the situation or deal with it in a way that will consider both the businesses as well as the welfare of the employees.

Keywords: Layoff, Job Security, Unemployment, Upscaling, Technology Advancement, Ai