Financial Tremors

After the fall of the Lehman bother’s and Merrill Lynch selling to Bank of America.Today’s global economic scenario had made the people panic and to worry about their finances. There are very many reasons to believe that. Why this announcements are happening all of a sudden without giving any clue to any one.

Traditionally if you look into some of the steel industries in India which has faced some rough weather in late nineties early2000 this decade .It was known to every one that this Industry is in trouble or so and so company is in trouble. But no such lay off happened to a surprise.

Now the momemntum of this cascading effect of the economic turbulence in the US and global economy had a very great impact on Indian economy as well.Todays times of India expected lay off from India would be 25000 Jobs Excluding the job loss from the people who are working with Lehman brother ie 2500 employees’ announcing job cut of 25000 as a consolidation phase with EDS. As it would be a very serious hit for the BFSI segment. We dont know where the next bad news going to be.

The question unanswered here is working with company like Lehman brothers may be dream for an IIM graduate but these dreams are all burnt out all of sudden…How this happening all of sudden? Yesterday colleague of mine confirmed that 5000 employees have moved out from Lehman brother’s office at UK..

The exponential growth which had happened with the IT industry had projected a big expectation with the Indian youth not for looking for other option based on the salary and the lifestyle of the IT employees had lured many to this Industry. India has an out flow of around 100,000 engineering graduates every year .Now those dreams are???

Already companies have tightened their recruitment process .Out of 1000 only 4 people are getting selected in some of the job fairs organized. Though the respective governments are injecting some 240$billion in their economies.. Let we wait and see how this effect is going to be handled.

A revival will be expected after the US elections. Let we keep the fingers crossed and watch.