Sunday, 4 December 2011

Recession and its fury...

The current recession that started from the US and Europe has spread across the world and its fury is being experienced across the world. The effect of recession is being experienced almost in all the fields of industries with IT being the worst hit. This is not a physically visible phenomenon rather than a more complex change or down turn in the mechanism of the world economy. Every sector of business is being affected by this turn of economic crisis.
This is also being known as a technological crisis as the IT sector is the worst hit part of the economy. Though the nearest relation according to a student might the effect on the recruitment and placement opportunities, there is a deeper agony caused by this phase of wild crisis.
There are many employees from many multi-national companies who have been made to shift from full time job to half day jobs so as to be eligible for half salary from full salary; there are also long period of job where there are no increments, no incentives as well as not bonuses; the employees were kept under careful scrutiny so that any little point in their phase of doing the job found any mistake could be taken for reason to throw that out of the company!
This kind of global economic crisis started from 2009 and it is also being said as the biggest turmoil the world economy after the WWII. Though the situation has little improved from 2009 by now, this recession is still at its rage and wish it is going be fine after all.

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