Economic Crisis and US

Though the economic crisis is now global, but the roots for it are in US. We can call the sub prime fall down as the beginning of the ending.


Here is the current situation in US:


1. There is low or no confidence in Investors, entrepreneurs and employees.

2. New recruitment Freeze -- we can rarely see the job opening opportunities. Employees used to get multiple opportunities earlier, now has to wait indefinitely on bench.

3. Reduction in employee strength. (job cuts - No company is exception)

4. Less number of promotions or No promotions (TCS, Wipro etc.,)

5. Strict policy in Travel approval (BP is the example)

6. Sabbatical leave offers by employers to employees (Infosys & Satyam)

7. Extension of Christmas & New year holidays. Forced leaves !!! (SAP, BT)

8. Variable pay portion become volatile. (All most all IT companies)

9. Less salary hike or No hike (TCS is best example followed by many others)

10. No refreshments in Cafeteria (Google is the example)

11. No voice mail service in Office (Kodak did this, can you believe it.)

12. Strict policies on Tele meetings and Live meetings cost.

13. Some Health companies reducing number of floors they operate in building. On an average each floor maintenance cost around RS One Crore in US.

14. Less cost spent on Advertising, brand building and New IT projects. (almost all companies)15. Some Libraries in US stopped working on Sunday to cover the costs.


I am not sure what else we have to see going forward.........



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