Wage freeze is no solution at all...Taking terrific advantage of the Coronavirus, there are a big number of both IT and manufacturing organizations that have frozen salaries. There are reductions in the salaries. There are some companies that have made it clear that for the next three years, there will be no increment at all. The lockdowns have been lifted to the maximum extent and the organizations are back to normal times. For example, the auto-component companies that are exporting to Europe, have now seen a massive surge in demand.
Yet, most companies have frozen salaries. This has lead to less spending in the economy. There is only a good demand only in substitute products and this is not helping the overall economy to revive, as people are spending far less. There are hundreds of houses available for rent, as the employees who have moved to their native towns and villages have stayed back there and put their children in schools that are nearby their native places.
This has resulted in less income in the hands of the house owners. The game goes on and on. It is high time that companies life the wage freeze immediately.