So far, we are hearing lot of job cuts around the globe and not much affected in India..

But, since from last month we too are hearing lot many job cuts, reduction in pay, only 15 days pay etc in companies around us..

One of the software company in Bangalore has shown the way from the entrance itself for hundreds of their employees, and even not allowed to enter into the premises. The same is followed with all the major companies, but not this rudy. Because of high salaries, most of the employees had taken huge housing loans, car loans and other loans and due to sudden this recession affect, most of the employee's houses/cars are being auctioning because of their default in repayments. I believe, if this trend continues, there would be lot of social unrest, especially, among educated persons, mainly because of loosing/not getting jobs in the right time, inspite of very good educational backgrounds..

I didn't know whether to blame US alone or other factors, but impact is mainly due to wrong policies adopted by US. Being a fully advanced country in the world, Analysts/Researchers need to focus only on US and the corrective actions as soon as possible or else it would swallow the present employee community much quicker than expected. It is more worse than Taliban or Al-Qaida, which are known threats and can be identified and restricted, whereas, the present economy policies following by US is unknown and their impact on the entire world is like a virus....