Demonetization has hit the Employment in the automobile, real estate, and organized sectors very badly. Owners who used to pay salaries using black money no longer can do that and are sacking the staff in phases. The businesses were severely hit and it has impacted the sales and profits.
Since there are no signs of revival at for a few more months, they can not bear the additional burden towards salaries. So are laying off the staff. Most of these staff are not on the official pay rolls and have no identification in record books.
According to an estimate, at least 10000 jobs will be lost. Demonetization is said to be a historic decision but the implementation of the aftermath effects are very bad. There is an acute cash crunch with all the businesses losing out and governments registering bad incomes.
