Nobody knows what is happening.. too many variables.
We will have to wait for another 2-3 months to see how the situation changes before deciding on how to proceed with our financial planning.
And wait for job stability as our living could be jeopardised.

All the dictums that had pegged the rise and fall of careers to skill and hard work, can now add a new attribute: coronavirus. An invisible factor that can spring up suddenly to not only make or break careers, but also wreak havoc on lives and livelihoods. Since the beginning of this year, when the microscopic virus popped up on the global scene, it has altered the economies and budgets of nations and individuals worldwide
In India, the lockdown since March-end has seen the country and industries come to a grinding halt, wiping out startups, bringing small and medium scale businesses to the cusp of collapse, sowing widespread unemployment and salary cuts, and altering the workplace and lives of millions of employees. While the International Labour Organisation (ILO) estimates the loss of full-time jobs worldwide to be 305 million, in India, the total number of jobs likely to be impacted is 136 million, as per the National Sample Survey and Periodic Labour Force Survey.

However, the impact of the virus on businesses and jobs is not uniform across sectors, with some taking the brunt and others barely skimming the bad phase. The worst affected sectors include aviation, travel and tourism, automobiles, construction & real estate, manufacturing, among others. On the other hand, sectors like information and communication technology, healthcare and medical supplies, e-commerce or online retail, logistics and transportation, where remote working is feasible or the need for manpower has gone up considerably, are doing well.

‘This Is The Time’: Microsoft CEO Satya Nadella says to Software’s Role In Covid-19 Response And Recovery
As the CEO of the world’s most valuable company, one that works with hundreds of millions of customers and employs more than 150,000 people, Satya Nadella has a unique vantage point for observing technology’s role in combatting Covid-19.

The Microsoft chief says he is seeing a migration to newer cloud technology in local governments, schools and hospitals that is in some cases skipping multiple generations of tech.

“That’s just a leap,” says Nadella. “We’ve talked about these things for decades, but this is the time where we are doing it at scale.
So the question is, what are we learning? What does it show which is sustainable? What should we re-imagine when we get back to ‘normal?”

Most employees are worried lot.. many Bengaluru-based company has slashed  salary by 25%. But in other parts you lose your job or are asked to take leave without pay..
For the people adversely impacted :
 Will have to alter lifestyle and focus only on essential expenses for now.

Smart steps to be taken

Adjusting budget to cut the discretionary spending so that essential expenditures like child’s education goal is not impacted.

Have life and health insurance.

Have to identify how to supplement income.

Bigger problems are for soul breadwinner for family that has quit  job recently or being put on indefinite unpaid leave. Still searching for a new job and emergency fund might last only for a month or two months.

In India, the lockdown since March-end has seen the country and industries come to a grinding halt, wiping out startups, bringing small and medium scale businesses to the cusp of collapse, sowing widespread unemployment and salary cuts, and altering the workplace and lives of millions of employees. While the International Labour Organisation (ILO) estimates the loss of full-time jobs worldwide to be 305 million, in India, the total number of jobs likely to be impacted is 136 million, as per the National Sample Survey and Periodic Labour Force Survey.

“Any sector that delivers to discretionary spends or involves high people connect, like travel, is likely to get impacted more than others,” says Rajul Mathur, Consulting Head, Talent and Rewards, Willis Towers Watson, India. Agrees Neeti Sharma, Senior Vice-President, Teamlease Services: “Most people who plan vacations around this time have stalled and so has the travel business. The automobile volume may decline by 15-16% in 2020 as the companies have shut down manufacturing and put production on hold.”

As companies try to ensure their survival by cutting costs, many have resorted to slashing salaries and laying off people. Others have put employees on indefinite leave without pay or put freshly hired staff on hold. According to an online survey conducted by the Economictimes.com on the impact of Covid-19, as many as 39% of the 3,074 respondents who took the survey are facing a salary cut, while 15% are set to lose their jobs. Despite the fact that 15% respondents are facing a salary cut of more than 25%, almost 43%of these are likely to continue with their current jobs and not look for new ones.

Response, recovery and reimagining is the way forward.

I don’t think we go forward with exactly the same type of workflows or how we do work or business process the same way.
We need to collect as much data as possible on how smart people have adjusted and is working. Plans to publish what we find and start adapting te each of our lifes at-scale and experiment.One of the areas I as a manager is particularly watching:
how managers can empathize with and connect with employees more emotionally in a remote setting.

All of us are doing lots of meetings. They’re all video meetings. That’s fantastic, we’re getting a lot done. We have more stand-ups [meetings], even more so because of the crisis. But we have not checked-in, had those hallway conversations, those few minutes that you have the person sitting next to you in a meeting where you are able to connect with them.
How do you recreate that mechanism? I think it requires a new type of culture.

As most companies are experimenting with work from home we need to creat a new “hybrid,” type of working..
Like sales field offices, most employees are already remote or remote most days of the work week. There will be no monolithic way we need to keep learning and adapting.
I think we want to accommodate for more and more flexibility. If anything, this shows let’s be even less monolithic and accommodate for a variety of workflows and work styles, and accommodate for it versus being dogmatic.

I recently got a reality check from studying on Walmart which is one of the biggest clear winners of the Corona virus lockdown both on line and in store sale and Microsoft about work during the pandemic. While Microsoft staff might be productive working from home, Walmart was sending in more than one million workers daily to its stores to allow them to do so. I think the worst mistake anyone can make is to be dogmatic and say that everything needs to be done in a particular way.
Always remember that customers are very diligent on companies that take care of both employees and customers as it requires a lot of money to do that.