Huge job cuts after lockdown

This is what most CEO’s in the CII survey say :
MUMBAI: The Confederation of Indian Industry (CII) has confirmed that there will be huge cuts in jobs across the country as a result of the lock down in the wake of corona virus. A survey of over 200 CEO’s by the company last week revealed many interesting facts. About 52 per cent of CEO’s have said that there will be job cuts in many sectors after the lock down period is over. CII conducted a survey last week titled ‘Impact on industries in the wake of the Covid 19 lock down – CEO’s Snap Poll’. With the announcement of their results on Sunday, employees in the manufacturing sector are being troubled.
According to the CII, 47 per cent of CEOs said there would be less than 15 per cent job cuts after the lockdown. Another 32 per cent said they would lose 15 to 30 per cent of their jobs. Many companies have reported a 10 per cent decline in revenues and more than 5 per cent in profits. CII Director General Chandrajit Banerjee said, “The government is optimistic that the government will announce economic stimulus packages for the development of industries and implement it in FastTrack mode.” He said the industry’s operations were significantly affected by the sudden lockdown.