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The New economics of India and world :-(

The global meltdown has adversely affected many countries, same is the case with India, The World is getting new dimensions in terms of new highs and new lows, new processes of recruitment in terms of number... Did we expect the stock exchanges to come back at 10000 level, we expected the markets to cross 21000, and we actually saw such kind of heights..

The changing Scenario:
  1. The new highs and lows of stocks
  2. IT seeing a U turn again
  3. Reduction in the jobs for freshers
  4. Industrial Production@1.2 %, which was around 10% last year in the same period
  5. Inflation still a 2 figured percentage
  6. Global meltdown
  7. Decreasing export orders
and many more, it may not be a brighter diwali for many ... Ppl who were placed with good firms have suffered a lot...

In terms of Job cuts following are few problems:

1. Kingfisher to cut 300 jobs, Lehman 2,500

Most of the 2,500-odd employees working for investment banking giant Lehman Brothers in India stand to lose their jobs.

With the financial crisis spreading and oil prices rising, the airline industry too is under heavy pressure. Just a fortnight after it launched international operations and integrated low-cost carrier Simplify Deccan with it, Vijay Mallya-promoted Kingfisher Airlines has laid off at least 300 employees.

2. HSBC to cut 1,100 jobs

HSBC will cut almost 1,100 jobs worldwide following the financial meltdown in US and European markets. The cuts will affect the bank's global banking and markets operation.

3. GSK to cut 1,000 R&D jobs

GlaxoSmithKline, Britian's largest pharmaceuticals firm, plans to axe almost 1,000 people at its American and British R&D units. The cuts are likely to improve productivity and save costs.

4.H-P to sack 24,600

Hewlett-Packard will lay off as many as 24,600 people over the next three years as it seeks to cut costs at Electronic Data Systems, the IT major that HP recently acquired.Although most of the jobs will be cut at the Plano, Texas-based EDS, some HP workers too will be affected.

5. UBS to lay off 2,000

European banking giant UBS plans to cut 2,000 jobs in its investment banking, equities, and fixed income units.


And the story is still on... 


These crisis are one of the largest downfall stories in the history of Finance, I wish the countries take the best decisions to survive...


Comments

Anonymous said…
:(:(iske koi alternative nahi hai???
retrenchment ki jagah kuch aur???
M_U_K_U_N{U_V} said…
YE to hai hi sir JOBS ki gadbad ho rahi hai kafi or prob. aane wali hai is sisaab se to placement time pe..

HAME Job nahi milegi aise raha to
is recession ko jaldi U turn lena hoga..

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