Already CISCO has fired 10,000 employees followed by WIPRO with 5,000 and also by HSBC and other companies have started slowly. All CMM Level 5 co's have initiated and in the third quarter they will start firing the employees. It would be better to join in small and upcoming co's for job security and also this time it will hit in a very different manner with a different style.
So let us all keep watching and this time it will be bad for all kind of countries including developed countries too..........
8th August 2011 From India, Secunderabad
Recession Starts (bad time for all economical growing country)
For first time, US loses AAA credit rating - Yahoo!
US credit downgrade creates no ripples afterall - Yahoo! India Finance
S&P: Asia would be hit harder by a second global crisis - Yahoo! India Finance
Lakshmi Mittal loses 2.16 billion pounds following market crash - Yahoo! India Finance
Last time in recession period, maximum small org. had lapsed. It was bad effect on cmm level org. but small org. cant carry the major economical change.
This time the way of hitting is different but the way of carrying all changes is difficult.
This Recession will be stay for a next 2 year. (according to the researcher )
Also, In this period too many IT and ITES org. will shut down their shops.
For the economical way, other non IT org. also think through that angle.
8th August 2011 From India, Mumbai
Are we moving towards another recession? The global economic developments after Standard & Poor's (S&P) downgraded the U.S. credit rating, point towards the advent of a global economic meltdown. Leading rating agency S&P for the first-time downgraded its long-term sovereign credit rating on the U.S. from 'AAA' to 'AA+' and kept a negative outlook. The debt ceiling could not prevent the S&P downgrading. The historical downgrading also worsened the word economy which is already on the brink of a recession driven by the weakened U.S. financial recovery and the debt-ridden European economy.
While the debt crisis is likely to hit banking, manufacturing, real-estate and pharmaceutical sectors in the U.S., the crisis is said to cause only a minimal impact on India. It will presumably result in less capital flow to the Indian economy and our capital markets may face volatility head. Being the 14th-largest creditor to the U.S., India has exposure to close to $41 billion in U.S. treasury bonds. U.S. has an overall national debt of around $15 trillion of which the country owes $4.5 trillion to foreign countries holding government debt securities. However, the recession fears have gripped the world economy and here is a short peek into its impact across the globe.
Even our RBI has also invested a lot in US securities where the loss is being incurred. Let us see now wait n watch the show.
9th August 2011 From India, Secunderabad