American Sub-Prime Crisis & India
Merill Lynch's sudden merger, Lehman Brothers filing for bankruptcy... These are few lines which are enough to send the panic signal in India among the employees of different private sector players. Is this so grave and alarming? Do we need to worry about this? Lets see, how these may effect us...
Its true that the global slowdown is there because of the US subprime crisis but this never means that whole world is equally hit. Its an alarming situation for America that it has given so much of loan to the whole world that now its own loan is depreciating its Dollar value. Its a temporary phase as US has now started taking very stern corrective actions to tame the situation and if consider the India point of view, India is not getting whole of its business from US but we have major contributors from Europe also and more or less Europe is in a stable position.So, its not as alarming as it is flashed in media.
Now what will happen with the employees who were working with these big players and now are sacked or going to be sacked? Why do we forget that we have many other similar players in the markets and who are big wigs e.g. HSBC, Citigroup, ING, JP Morgan, etc. These companies have a 24/7 open requirement. And these are big enough to accomodate 3000 headcount... So, this is also not something which we need to bother about...
What we need to do is keep on improving our quality and effectiveness... So, Don worry be happy... Lets pray that the government also comes positively in the favour of this to support the future of we Indians...
