I take it you haven't experience a recession before. The news this morning about Lehman Brothers and Merrill Lynch can be expected to result in more layoffs.
So far, the IT industry has suffered only lightly compared to the last recession. I think that in part it's because IT is a growth industry but the companies never really built back up staff after the last recession. Complaints about overwork are rampant - any attempt to pare down staff much further would likely fail.
Nevertheless, it's a good idea to make sure you keep your finances well-managed.
"privilege" comes from the Latin words for "private" and "law" (legal) and dates to feudal times. To "claim privilege" meant that you were above the laws that applied to the common people.
I assume you are from India and in India the job market is not bad at all comparing with recession period during 2001. Yes many companies removing employees based on the employees performance. So as long as your performance is good you don't need to feel insecured. [ September 16, 2008: Message edited by: KJ Reddy ]
Why not ? India still has greater dependency on US market. For instance with Lehman Brothers coming to an end, even Indian workers are feeling the heat. [ September 16, 2008: Message edited by: Srikanth Basavaraju ]
Sorry for deviating fro topic ...Is US market is really so bad that Lehman Brothers has filed for Chapter 11 bankruptcy after Barclays and Bank of America abandoned talks to buy the company .Moreover the Bankruptcy represents the end of a 158-year old company that survived world wars and the collapse of Long-Term Capital Management, but could not survive the global credit crunch.
It is still unclear for me why Bank Of America preferred Merill-Lynch rather than Lehman-Brother ???
Can you tell me whose job is secure for lifelong? Atleast we guys are lucky that we atleast know we will get salary when there is no recession..what abt those vegetable sellers , daily earning people, they don't know if they will earn anything after full long day of work just a thought ..so just chill