Currently many of the IT firms are facing an economic downfall due to which they have started firing the employees in huge number. It all started when Lehman brother’s a Global Investment Bank faced a huge financial crisis and went debt. This financial crisis has gone to the extreme now, where economic condition of many countries went down.
An Employee feeling the hotness of Economic Recession
United Kingdom, United States of America and many of European countries have started to feel the heat already, so they have started firing the employees. AIG (American International Group) which was once the 18th largest public company in the world and Merrill Lynch & Co went bankrupt.
Due to this recession, many of them have lost their jobs. Currently Citi Group has fired more than 20,000 employees throughout the world. Satyam, Tcs, Wipro and many of the companies have also fired employees. This recession is not only in IT firms, but also in industrial sector. This is not the right time for employees to shift jobs. So, I would suggest the employees to stay tight in their same seat. We hope that as the day’s goes, there will be an improvement in the financial crisis, which is now taking a toll.The list of companies employees fired recently is Citi Group, Wipro, Satyam, Accenture, Merryl Lynch, AIG.
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[...] though many of the IT firms are feeling the hotness of Economic Recession and firing the employees, Infosys has decided to hire 9000 employees next year in march. This is [...]