A Global Economic MELTDOWN

A global economic meltdown-IT's biggest problem

A global economic meltdown has taken its way in the sectors of Information Technology and Banking. With the Pink slip being given to all the employees the IT is in great trouble. With the great fall in IT all the it has a cascading effect in all sectors.

With this rumors of Pink slip should an employee get out and find a new job are wait till he gets a layoff? This is the biggest doubt in the minds of employees in IT sector. Every one is now listening to the stories of layoff and forced resignation

One IT company has sacked 1000 of its employees during its annual appraisal.some one say more than 400 jobs have been lost in the past two months.A fine morning if am employee enters his office he is not sure completing his working hours.Two options which the company gives now a days is get out are we will send you out.

Even some of the employees are going early to the office to show as if they are working hard for the company so that he can prevent his job.Its more wise to marry some one in another profession than marrying a techie.Money which earned may be there but the jobs they feel.Every small time they get, they talk about lay off are forced resignation.

Its no more a cakewalk for the students of IT.The lucky once who get into the best institutions in the country dose not seam to have a big problems, but those who are in second are third rated institutions are now a days in a hectic trouble. "The companies are still coming for campus interviews", is just to maintain their brand image and nothing else. The number of candidates being selected has gone down.

Banking sector which were giving fun trips has stopped their credits.Even the companies have stopped their foreign trips are holding them back." Those who were spending Rs.200,000 for holiday is now spending not even Rs.50,000" says shrimathy of the World Travel Club.

Most of the IT employees are a part of equal monthly installments. The problem here is weather they will be in a position to pay their monthly installments if they wont what will be their condition??? Those who were spending a lot,have cut down their expense to a greater level.

Since the global economic meltdown has started, both IT and banking is suffering a lot. With this level of recession in economy,will take much time to recover as it already existed.The worse part of it, is for the students who had taken the course of computer science in second and third rated institutions and universities.Being knowledgeable person does not fetch any job,because of
the cascading effect of "GLOBAL ECONOMIC MELTDOWN..."

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Different cause for World's Problem!!!

We all know, now the world is meeting its old friend"Recession", there are lots of reasons given behind it by many experts. Some of its reason which we felt caused recession has been listed out as simple as it can be done.

Current recession has been caused by high oil prices inferred from a recent report by CIBC chief economist JEFF RUBIN

Recession took its victory under the lead of oil price. The rapid fluctuation in the oil market made the countries to have a sit back in its economic position. Well before the other nations entered the recession Japan and Euro zone rushed for it.

Oil price changes had a close effect in stock market too. The invest made by the investor had an adverse effect over it,which reduced the values of investments by 40%. The world's strongest economy, U.S withstood this to some extent in the beginning but not fully,the other nations which were depending could not bear the stock fall which made them feel the heat of recession.

The fundamental cause for this recession is the regulatory norms followed by U.S.for the past two decades U.S had a low inflation rate. Which resulted it to ignore the completely basic economic cycle. This was first visible to united states 20 months ago,when they were trying to control the excess liquidity in the market. Then came the fall in their real estate. Amazing fact is that the real estate fell as much as, an house can be purchased in California for Rs.98000 which had a same effect all over the world.

The next main cause for this economic problem is,the world so called strongest bank failed maintain its position and was judged insolvent,it was none other than "LEHMAN BROTHERS". Its unsound idea to purchase a asset worthing more than its reserve caused its great fall in the industry of banking.

What so ever the reason may be for the world's fall the one who suffers are the developing nations only. Lots and lots of people are being driven away from jobs and result is fall in the economic level of the nations. The only person who get good job even during this time of recession are charted accountants by the name of cost reduction every company is sending their employees out and have also freezed their recruitment. With the worst economy policy of the U.S. every nation depending on it is now facing a lot problems which they are not able to manage.

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