’)Jobs Cut-off Trend, Its Getting Scary!
Since last month, I am only looking at the most scary news all the time. Every other company is cutting off their jobs because they can’t pay their employees and also reduced their productions because no one is there to buy their products. How would the next 2 billion growing population of this world would get jobs?
Few days back I heard the news that one of the most economically stable country like Japan started cutting off jobs. Toyota announced last year that they will not be renewing the contract of their 3000 employees due in March 2009. After Toyota, Honda also announced earlier this year that they will be cutting of the jobs. Honda will be cutting 3100 jobs in Japan only this year. Honda lowered down 10% of their production from last year because of the slump in the world’s economy.
The other companies which announced the jobs cut-off are Google, Microsoft and Sony. Google’s job cut-off is not yet confirmed to me, but I heard that they are not hiring more people this year. And on the other hand today Google’s Q4 report of 2008 showed that they have gained 34% of revenue compared to the last year. On the other hand Microsoft announced to layoff around 5000 jobs. Microsoft will be eliminating jobs from R&D, marketing, sales, finance, legal, HR, and IT over the next 18 months. Looking at the jobs cut-off trend then Sony Corporation won the race by announcing the most number of jobs to cut-off. Sony cuts 16,000 jobs and reported net loss for the first time in last 14 years.
Everyone is blaming George W. Bush for all the economic disaster in the world. I searched the Internet on this topic and found this above figure showing the curve of jobs in US only after bush takes control of his office. I wonder what will be the future now? The new president Obama in his campaign speech gave hope to the nation and gave plans to create around 3million new jobs in the country. I am still wondering that the people who just got eliminated from their jobs would get those new 3million jobs or the new upcoming graduates? Just in the first month of this year 2009 four major companies – Sony, Honda, Toyota, and Microsoft announced jobs cut-off of over 25,000. What is coming next in this year, Only God knows!
Comments