Monday, November 17, 2008

Road down to recession?

After Sun microsystems news on laying off 6000 employees, Citigroup is now planning to down-size by 53000 employees. 53000! the size of a small town may be. It sure gets depressing to think of a small town of people without work.
Traveling around the city I find so many shops that have put banners that they are closing down. Even behemoths like CircuitCity have filed for chapter 11. I'm not sure how many financial companies could be saved with the $700 billion, or how many more automakers could be given a bail-out. Can US afford to support so many companies? Wonder how all this is going to percolate to the developing nations.

1 Comments:

Blogger Samaali said...

Hey Guys,

Just came across CNN's India Means Business week website, www.cnn.com/india. it has some very interesting and amazing stories on India and its business culture. This is a part of CNN's special programming on India's business and economy starting from Nov 24. Apparently, we can also put in our comments or post videos on its website - www.cnn.com/ireport/
CNN has also come up with a B-School contest on www.knowcnn.com asking students to write their views on why India means business to them in 500 words or less. Do log onto the website. It’s definitely worth a try!

18 November, 2008 04:01  

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