Yes Bank lay off employees

Were you ever laid off by your organization? What reasons did your employer gave while exiting you? How did you find other options of employment? All those who have faced similar kind of situations know how difficult such phase of life is. At that point of time, it seems that there is no silver lining to this dark cloud. But as human beings have such high survival instinct, we somehow find ways out of such dark times. Rise of entrepreneurship during COVID pandemic truly showcases this skill of humans.

There was recent news that the fintech firm paytm has asked so many of its employees to leave.  In continuation to that, another huge bank has asked its approximate 500 employees to quit. The reason that Yes Bank is giving is that they are into restructuring process. But how far is it okay to ask employees to leave in the name of restructuring? The bank says that they are focusing on operations part and that all departments got affected including wholesale and retail but banking employees are mostly affected. They also said that they are providing 3 months’ salary to the laid off employees to accommodate with this sudden change.

But how far this payment can help them is a question mark. First of all, the mental agony and fear of future would lead to immense mental harassment. Secondly, it may create rift among family members.

So, what’s the way out of such situations? Do give your views in the comment section.

Bhavya Taneja
Bhavya Taneja
Bhavya Taneja is a Practicing Company Secretary, speaker on various academic and non-academic topics and a writer. She has an experience of 8 years as a professional and 5 years as a faculty of Economics. She has authored a book of quotes called 'Crisp Talkings' and is actively involved in social welfare activities as well.

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