Scared and unsure :-(

We all know about the global economy turmoil, how people are losing jobs, the companies are forced to cut-down the head count, cost cutting, units shutting down and what not.

Though at this moment, US seems to be the most affected country but gradually, other economies are being caught too and India is no exception. And since I work for a US based company and we have not been doing great in India lately, rather not even okay, I am scared too thinking what would be the future of our company and its employees.

I read on BBC that Europe is into recession too now, too bad :-(.

Future seems very unsure and that scares me a lot. I mean, market seems so bad that even if you have right qualification and experience, no one would be willing to hire you as they don’t have work for themselves so why hire a new guy?

I am in IT and we get lots of business/work from US, specially from banks and other financial institutions and since the banks are in the worst conditions, we are suffering too, if I am not wrong, 19 banks in US have already shut down their business in last few months only.

We know the poor condition of Citigroup too and I heard that General Motors is going to bankrupt soon too, my goodness, how the hell would we survive?

Few business analysts are saying this is gonna be a long term phase which might take more than a year for coming back on the track while others are saying that things should improve in the first quarter of 09 itself, as US government has declared $700bn package to fight back with the slump, let’s see, fingers crossed.

I have been working since 2000 and this is the very first time, I am worried for my job or getting insecure about it, I never saw such tough market  all my life.

I am just hoping Mr. Obama would do some magic soon and we all would take a sigh of relief :-).