Thread: Global financial crisis

I heard that few IT professionals lost their job due to Global financial crisis.
The company was in tie-up with a US company and all the projects were US based...and it seems that it will affect all the countries.

"Thousands will lose their jobs in the global financial sector as many companies have witnessed the fastest drop in business levels, profitability and confidence in almost two decades."

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Yes, I don't think anyone is safe with the way the global economy is at the momemt. The only thing we can do is try and sit it out and hope it gets better soon.

They reckon that things will start to look up in january cant come soon enough if you ask me all this bad news is getting a bit tedious now.

our mutual funds have gone to **** this year :evil:

You know, for the first time since I went full-time, I am really scared. The stockmarket is crashing today because of more bank troubles in Europe.

There are now daily demonstrations by people who have brought Lehman bonds demanding compensation from the banks who sold them. Apparently in the last couple weeks, the business of high-end restaurants have dropped 20-30%. The asking price of luxury apartments dropped by 10-27%, and sales of cars are down across the board. This is all in an economy whose people are most confident about at the beginning of this year.

Also that my business is not doing well at the moment, although it has got little to do with the economy.

Originally Posted by Menthol

They reckon that things will start to look up in january ...

Long and hard is the way that out of Hell leads up to Light

It will be interesting to see how our illustrious leaders handle this crisis from now on.

The atmosphere is just horrible, almost everbody around the world is scared right now. It seems that Iceland is the latest casualty, its economy is colllapsing and it has just requested a loan from Russia.