Monday, April 27, 2009

Recession!!

"Recession", this word instills in me an unsettling feeling . Makes me think how many people have lost their jobs? How many people are getting laid off as I am writing this?

Recession, is nothing but a general slowdown in economic activity over a sustained period of time. It isn’t a minor headache that would just go away by popping a pill.


We all know that today almost all the big companies are announcing massive layoffs and pay cuts too. And also the current employment rate of 8.5% is at a 25 year high.

During recession, companies try their best to minimize their costs by all possible ways, before they decide to lay off their employees.

For example we will see that now Google will stop selling radio ads. Google paid $102 million to acquire dMarc Broadcasting, a radio advertising company, in 2006. If Google’s business still does not pick up, it will result in more layoffs this year.

Another saddening event is the closing of Circuit City, which has been around for almost 60 years, its sad to see that closing it would leave about 34,000 people unemployed.

But the future is not altogether bleak. I just read an article which says that the recession is abating( I cross my fingers and hope its true) and that there would be many job openings in companies like Wal-Mart, Hewlett-Packard, Bank of America and many more.


So all we need to do, is just wait for it to be finally over and when it is , well folks its party time!!

2 comments:

  1. When Recession period will end?What about fresher's job.Is there any hope for them?

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  2. hey deepak,

    Recession is abating now, and hopefully it should end by the year 2010.. Its going to be a little tough for freshers but towards the end things will get better for them tooo :)so just keep at it... As i had said many companies will have openings soon...

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