Hi all…..!!!!!!!!!!!

Everyone is eyeing for United States of America for this recent economy meltdown. US are hit by various bankrupts and scandals. Now the initial claims for unemployment benefits in the US soared to 6, 69,000 for the week ended March 28, reportedly the highest in 26 years, as recession continued to grip the world’s largest economy. It is reportedly the highest figure since October 1982. So we don’t know when US will back to his normal position. I believe US President Barack Obama will make some efforts to bring back US to normal Situation.

In addition to this, the four-week moving average was 6, 56,750, an increase of 6,500 from the previous week’s revised average of 6, 50,250. According to the official statement given by US, the advance seasonally adjusted insured unemployment rate was 4.3 per cent for the week ending March 21.With the recession deepening, the American economy has shed millions of jobs as firms are reducing their headcounts to reduce costs.

Due to the financial meltdown and severe economic crisis leads the Financial services giant Barclays to lay off 2,100 headcounts in investment banking and money management. According to the Financial Times, it is stated that Barclays were going to slash 1,300 people from its Capital, the debt-focused investment banking business, 500 from the Barclays Wealth private banking arm, and 330 in asset management business Barclays Global Investors. It cuts overall seven percent of its employees in three division of Business.

Also it is stated that job cuts are expected in London, Glasgow and the Channel Islands in the Barclays Wealth Sector as well as Barclays had acquired the US operations of bankrupt Lehman Brothers.

In addition to this Barclays Wealth’s division, the daily said, “We cannot continue with this situation of daily job cuts without any justification or explanation of the broader strategy for the bank.”

Hi all……!!!!!!!!!!!

One of the leading Company Motorola Inc will start to lay off another 4,000 jobs, or an estimated 6 per cent of its employees. It is stated that that 4,000 new job cuts will include 3,000 positions in the mobile-devices business and about 1,000 jobs from corporate functions and other business units.

According to experts in this field, it had been expecting a new round of job cuts at Motorola, after 6,700 employee departures in 2008, as the economic downturn and a slump in demand for mobile phones add more pressure on a company that had already been losing market share to rivals like Nokia.

It is stated that Motorola fourth-quarter net loss per share at 7 cents to 8 cents, including unusual charges of 6 cents a share. In addition to this, The Schaumburg, Illinois-based Company said its fourth-quarter revenue would range from $7 billion to $7.2 billion, compared with the average analyst forecast for revenue of $7.5 billion, according to Reuters Estimates.

Hi all….!!!!!!!!

One of the top most institutions in India for Technical Education is Indian Institute of Technology (IIT). Everyone knows we are in severe financial meltdown also we can say this is a recession period in the history of IT, banking sector and in many of the fields. Every year IIT will make a record in placements by 90 % compared over any other institutions in India. But due to economic crisis and slow down in IT sector hit IIT placements very much. IIT Students are finding it increasingly difficult to find placements. This year in IIT only 25- 40 per cent of M. Tech students have been placed so far. This is almost half the figure compared the 90 per cent placements the institutes’ students saw last year, reported Business Standard.

In addition to this, Bachelors in IIT is suffered much more compared over Master Degree holders. Only 75 percent of B. Tech students placed in IIT-R till now compared over 100% against last year. According to IANS, Wipro Technologies, a high recruiter of students from IIT-R did not visit the campus this year. Similarly other IT giants like Tata Consultancy Services (TCS) hired only 13 students against 36 last year and Infosys Technologies only four in number. International Business Machines Corporation (IBM) has also lowered its recruiting pattern.

Hi all…..!!!!!!!!!!!

What you are understanding from the above picture ????? It’s none other than the problem now the whole facing because of drop in Stock Markets in US and in various countries. This is generally named as Recession. It means temporary drop in Jobs during economic slow down.

Ya, right- we are in this situation only. No way to escape from this recession.Even if you are from USA or from any part of the world, we are supposed to cross this period. Now  the condition in US is very worst as  like as compared over the  period of Roosevelt during World War II. Because everyday US sending out as many people from their concern in the name of Recession. Also due to its consequences, developing countries like India, China also suffered very much. One in tenth is getting job in India in a IT field or in their prospective field.

Due t this the financial meltdown, unemployment rate is went to very high peak compared over last 2-5 decades. So we donno when this problem will set over, But hope for the best…!!!!!!!!

Hi friends…….!!!!!!!!!!!!!

May i know what is the future for the 1,00,000 Engineers in the IT industry. I saw that there is a sever hike in job prospects for IT field for the past three years but now the situation is completely reversed. No jobs at in this field due to recession in US and the various issues in Stock Market.  I donno when this problem will set over but many experts told that it will take a minimum of two years to set back yo its normal position.

Due to this recession problem not only engineers suffered , there is problem in each and every field of this world. US is giving bailout for several companies. I think if hey give bailouts continuously means at last one day, there will be nothing in the USA treasury and we all gonna suffer for this. SO 2008 is the worst time period for all folks in this world due to the financial meltdown and its consequences.