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Is IT slump a major crisis???

With IT sector experiencing a slow down, the global financial situation is facing a critical time that is being felt by everyone associated with the sector. It also seems that the current situation is so bleak that many employees are quite uncertain about their jobs in terms of security.

The Slump in IT industry is slowly but surely affecting other businesses to a greater extent. The share market getting down day by day which is actually presenting a loss to many of the stack holders. Also the rent offered for flats is dropping by miles. Even if a two bedroom flat whose rent is fixed as Rs.18,000 is offered for Rs.12,000, no one is ready to accept it. The real estate business is dipping too. Cab services are another casualty experiencing 35 to 40% decrease in its turnover. The land owners who are ready to sell their lands at a considerable lower price are also stumbling upon to get their work done as no one is coming forward to buy at this Black time of information technology.

An environment of uncertainty and financial tensions increases stress levels. The employees who are brought to work recently are also experiencing the maximum fear of losing their jobs. For example if in a family both husband and wife are bound to IT then the tension doubles. Also the formula of “Hiring and Firing” make the situation even more complex.
When will this situation recover???

Can IT recover back??? If so it will reflect in the growth of other businesses thereby increasing the global economy.

February 16, 2009 Posted by | Business sector, Fact, Personal | , , , , | 6 Comments