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Recession

Discussion in 'Money Matters' started by Rogo, Jan 23, 2008.

  1. Rogo

    Rogo New IL'ite

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    Hi Ladies,

    I guess there are lot of women here who work in IT...
    so what do you think abt all this economy downtime ..do you think it will affect your IT jobs ?
    Are you prepared for it ?
    I was a fresher during last recession and faced a lot ...
    I am worried about how it is going to be now ....
    Ladies do share your thoughts ...
     
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  2. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Re: Recession ?

    Hi Rogo,
    At Fidelity, we already started seeing layoffs.
    We don't know how we will be affected by this. But for sure, we can get over it by god's grace.
    Only thing which I have started is 'spending less' and not investing back home.
    Just want to save for couple months mortgage and other bills.

    ~Punitha
     
  3. roopadadia

    roopadadia Silver IL'ite

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    Hi Friends,

    What is your take on the recession that is looming large on us???

    Warm regards
    Roopa.
     
  4. sathyavenkat

    sathyavenkat New IL'ite

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    Hello,

    Because of its increasing exports to other countries like China and Japan and its strong economic status, i believe India can withstand any crisis resulting from a possible U.S recession.

    -Sathya
     
  5. roopadadia

    roopadadia Silver IL'ite

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    Dea Sathya,

    thanks for the immediate response.

    Warm regards
    Roopa.
     
  6. MaltiN

    MaltiN New IL'ite

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    Unless Indian IT professionals climb up the skill and value chain we have no hope of maitaining our competitive advantage - recession or no recession. Countries like China and Brazil are fast catching up and we really cannot rely on low end jobs for too long.

    I think the IT sector is likely to be affected at least in the short to medium term as Indian software companies are heavily reliant on the US market and we haven't created enough demand for comparable IT products or services in the Indian domestic market.
     
  7. Sabitha_K

    Sabitha_K Gold IL'ite

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    IT sector in India is definitely going to be affected as the reverberations owing to the global meltdown will be felt even in India.

    I heard there are pay cuts, cancellation of perks and immense cost cutting going on in IT firms.Not sure if these are rumours or which firms have been affected.
     
  8. orion80

    orion80 Platinum IL'ite

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    Dear MaltiN,

    India has moved up the value chain. Previously, almost all the jobs which were outsourced to india were the ones which needed freshers or who had very little experience in IT, for eg: testing, customer support. The control of the product/project used to be in the mother company which was located abroad (US/UK).

    Now the jobs being outsourced to India range from Senior management to freshers. Some software products are being designed, developed and supported (entire life cycle) from india only. I agree that countries like China and Brazil are catching up with us, but companies in US (for ex: my own company) are not willing to outsource senior management jobs to China (yet). For ex: the China team in my company is managed jointly by one manager from India and another from US. Mostly bcoz their english is terrible :)
     
    Last edited: Dec 15, 2008

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