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Meltdown impact: 'It was over in five minutes'

Bangalore, November 20: : Sandeep Jadhav, a 27-year-old professional in India’s outsourcing industry, had only seen the good times. He worked hard as a support technician in the local subsidiary of an American software company and took home an annual salary of about Rs 5 lakh. He frequently bought expensive sarees f ....Read more

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Melt down impact.. all over in 5 minutes....By: M Krishnamachary | Sunday , 1 Feb '09 11:27:57 AM Reply | Forward Most of Jadhav's fears are his imagination run riot. My grand children work in similar jobs. They have not lost jobs. Their parents are always their forts. No Mom or Dad think of the money of their children as their own. All children are safe and will receive all the moral boost that will do good. Money comes , money goes. Mr. young Jadhav is naive still. Family relationships are still strong in India. Centuries of history to it. As Bill Gates of Microsoft says that it might takes 4 years for economies to run towards growth in full swing, Jadhav can hunt around and become a skilled hunter. He will land a good job at any rate sooner than he thinks. Good luck. Miss. Saritha Rai's story is lucid. Mmade reading the life of soft professionals a enlightening experience.

Melt down impact.. all over in 5 minutes....By: M Krishnamachary | Sunday , 1 Feb '09 11:08:41 AM Reply | Forward The story by Saritha Rai about Sandeep Jadhav. A soft ware professional.Recession recession and recession. Why recession, How recession and where recession. These questions too must be well researched and told the public. In he recent past George soros a financial wizard caused the melt down of markets in many Asian countries starting with S.Korea in the north to Taiwan, Hong Kong, Thailand, Malaysia, Singapore and Indonesia. Engdhal's report underlines that George Soros was not alone and there is a coterie of rich financiers behing that melt down. Some financial Mafia. To say that recession is upon us all on a sudden is unreasonable.A great oak tree is felled by one stroke of the axe. We know who axed it the oak. The woodsmen.Similarly we must be able to know who are the authors of this recession. Can not subsume climate change, or some such gradual thing the cause.Unless we identify the authors of the recession, the clever men, this time around, we will never be able to take right corrective steps. Robert Gates(Bill Gates of Microsoft) opined that it will take atleast 4 years to come out of this present melt down.One great trouble with foreign direct investment (FDI) is its ability to fly by night. So, steps must be taken to make sure that FDI is properly regulated to give us boost but not the bust. May I request Mr. Anand Rao of FE and Saritha Rai to respond to my request ? Thanks

Tommorow is Ours...!!!By: mogudotcom | Monday , 24 Nov '08 8:59:46 AM Reply | Forward Dont worry buddies...Its a lesson...Try ur best..wait

The young and the foolish...By: IT Worker | Friday , 21 Nov '08 21:31:38 PM Reply | Forward I work in the IT industry too. It pays handsomely...but not forever! Most of the kids that were laid off today were too young when the same damned thing happened in 1999. I had just graduated with an engineering degree to find out that the recession had hit...and I was born and brought up in Bangalore.In contrast, most kids of today have truly indulged in a lifestyle that they probably couldn't afford thanks to easy credit - personal loans, credit cards, what not!Come on kids, learn to live within your means, not beyond it.

Salary beyond limit!By: listen up! | Thursday , 20 Nov '08 18:24:32 PM Reply | Forward millions getting laid off...this one no big deal, however I feel jadhav got paid more than what he should be. Extravagency is not his fault, its all the salary structure that puls one into greedy limits and extravagency! He could have definitely saved a ton for his future and towards the family with that kind of a salary...so now what????

Job Hopping and Careless LifestyleBy: Raj | Thursday , 20 Nov '08 18:16:28 PM Reply | Forward This gentleman has been earning a whopping 5lakh per annum which is 5 times what a normal man earns. Still he is bankrupt in few months? Unbeliavable! He must be really stupid to lead a carelessly lavish life. Even if he saved for tax purpose over 5 years, he should have 5lakhs in hand to sustain for at least 2-3 years without job. The pink slip practice is prevalent where the salary pack is heavy and hence justifiably Jhadav has no complaint against his bosses as he had bargained a good deal.

Dumping groundBy: intipa | Thursday , 20 Nov '08 15:45:28 PM Reply | Forward so many people are getting laid off, why only this story is getting highlighted?. Westerners especially America is using up india's intelligence by dumping non value adding jobs here, This created a fake economic growth and techies were on cloud nine. India let all Engineers do these crap job for multinationals and went years behind in technology, infrastructure, defence, agriculture and everything that is needed to make our country strong and self reliant. Youngsters lured by the attractive compensation and life style MNC software jobs had to offer fell prey to it. But cant blame them because if it had not been for these companies, unemployment would have been horrific which would have resulted in devastating consequences. This serious threat of global meltdown and lay offs by MNCs seem to take India back to the 80's where unemployment was order of the day. India should have invested in Industrialisation and projects for our country and employed our youngsters on those jobs.

Meltdown Impact.By: VENKATRAJ | Thursday , 20 Nov '08 10:57:51 AM Reply | Forward Stretch untill your bed is an old saying from our forefathers. God gave the intelligent a thing called Software to escape the onslaught of Reservation, but they made merry with night life ,pizzas and what not? Now it is back to Square one. God is Great.

Shrude layoffBy: SA Hasan | Thursday , 20 Nov '08 9:22:33 AM Reply | Forward India is predominantly is an agriculture country and about 75-80% population depend on agriculture sector for its livelihood and neglecting the agriculture sector would have its negative impact on prices of essential of coomdities and over exploitation of other resources and wating the reosurces on luxory items and manipulated economy scenario was doomed to be failed and it failed. The prices of houses added to another foe as only a meagre number of people were investing into the realty stock whereas 95% people could not even think of having their own houses and only few persons were employed at a high salary whereas majority did not. Such imbalances were counter productive which were completely ignored by the governments and rising consumerism which played a devatic role is also to be blamed. Right time for India that it should invest in cottage industry, agriculture sector, and stop escalting the housing costs etc.