Skip to main content

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...


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..

Popular posts from this blog

All they want is a pleasant experience for us

My experiences with this gloomy world continue. I may sound repetitive and annoying, but there's a reality check for all of us who think that the world is fine as long as the Covid-19 doesn't hit us and our paychecks continue to flow into the banks. 
The store in the picture is amongst the busiest in the area, always remains full and explodes with the people on the Saturdays. A typical brand in a store, let's say a Van Heusen makes about ₹200,000 to ₹220,000 of sales on the weekend. As of today, the store does about ₹10,000 to ₹15,000 of revenues of the same brand, and the footfalls are not even 5 per cent of what they otherwise used to witness. Ironically, a store of this size would have 8-10 salesman with an average basic salary of ₹10,000 to ₹12,000 a month and the balance they earn (~₹5,000-₹7,500) is all linked to the sales of the brand. For them, purchases from the store cover-up for the livelihood, savings and the investments and there are no concept of "work fr…

The new age crisis

I don't know who I should credit or discredit, but last couple of years have been incredible for India and it's people and it is not in a good way. Disappointed to note that the politics has completely taken over us and the ideological differences have reached our houses and personal devices. We are not only fighting amongst us on difference of opinion, but also ensuring that the dissent against a majoritarian view is killed to its core, to the extent that the voice is never raised against any impending thoughts or disagreements we may have. 
I am deeply saddened by the fact that most of us now are actually made to believe that the opinion shared by a larger section of society is deemed right since it has the weight of a the population around, and in case you have reservations to even contest that, you are probably branded as a threat. 
I may have had little problems with CAA or NRC if it wasn't done for the political incentives and the treatment of the people not sharing th…