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Friday, January 2, 2009

2008: Black year for job market

Year 2008 has been added to the history books. Employees can't forget the year 2008 for lot of reasons. It was a year which has ducked thousands of employees job. And employees who had job, they had to spend their days fearing about loosing of job.

If you look back to 2008 you will find two scenarios. First three months of the year 2008, lot of people got job and people who had job were searching for lucrative job. Last three months of 2008 was disaster for the employees by loosing their jobs. Series of pink slips has been given to employees by employers. People who were searching for job cursed economy. All over the world - banking, finance, insurance, automobiles, airways companies had to stop their extension plans and it may take at least 1-2 years to get back to normal rhythm.

Past and Future
After September 2008, more than 10 Lakh people lost their jobs. Companies had to stop promotions, foreign trips, travel expenditure and lot has been axed by companies to survive in this recession. I am feeling that people who are in government job are in "safe heaven". Because there is no job cuts in government sector. If you look at the future everything is not yet over, according to the survey in coming days there will be more job cuts in IT/BPO, manufacturing companies.

I Hope future years will bring cheer to our life.

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