Is the Global Meltdown
Beginning to Affect The Indian Youth?
meltdown is taking its toll on Indian Youths as well. Those
already in job are trying to save their jobs and new jobs are out
of question. The depression rate is increasing as no one feels safe
because of pink slip which was recently shown to infinite employees
in recent past. The situation is worst in engineering and banking
field. The most effected ones are those who are struggling to get
a job. Youths have lost hope. And,
those waiting for increments or change in job are having sleepless
nights as are putting more working hours so that to be on safer
sides which is leading to stress.
There is large
cut down on outsourcing so those in BPOs and KPOs suffered
a lot. Just think about those who were handed pink slips and
that too while working. And, this depression has its effect
in the whole market directly or indirectly. Everyone is suffering.
Many shops in malls have been closed because of slowness and
lack of capability to buy goods. In a recent survey it was
estimated that even Event management companies have
cut down their costs up to 40%.
masses can not afford that lavish weddings.
are told to wait for some time before their final placements
by college from where I graduated and those who were selected
by some software firms too are told to wait till the time
economy turns smooth and hence, is leaving young ones devastated”,
Shubhra Rishi, System Analyst in HCL quoted. Now, we
can very well make out what can be the scenario in other engineering
colleges or B-Schools..
| Since, jobs in India
is a danger so looking for a job abroad sounds next to impossible
at this point of time. When Jet airways and Kingfisher airlines
merged, then several air hostess’ and flight stewards along
with Pilots and other staff were told to leave their jobs. Although,
matter was fixed after strike and whole staff was told to join
their jobs back but on certain terms and conditions, decreased
pay scales and other parameters. There is peril of losing jobs
indeed with it which is really disheartening.
Now a days, youths
are compromising their careers in less than what they actually deserve.
It can be seen engineers taking calls in call centers underestimating
their qualifications, burring their dreams keeping in mind “Beggars
can not be choosers”. They are depending on the career by chance
and not career by choice.
USA is one of the countries which was affected most out of
all. And since most of the US companies do business in India and
with companies in India and the world over, India is affected a
lot. However, for the next two years the whole world, including
India, is expected to reel under the effect of the current financial
crisis considered as the worst since the Great Depression of 1929.This
meltdown has resulted in slowness in jobs as Lehman Brothers, Powai
unit employed 2,200 people which are rendered unemployed till the
time any other company will take over same. Increase rate in inflation
rate can be expected in future as well. And, for those in share
market and Sensex, it is a roller coaster ride.
Hence, squeeze is
that only wait, watch and having patience is the cure for now. Those
in job needs to stick with their job and those struggling need to
grab opportunity. But, one benefit of this meltdown is that Youths
are patient and have started valuing money then ever. But, hope
sun of 2009 will take positive vibes along. All the Best!
Contributed By: Kriti
Sharma, an IT professional pursuing MBA in marketing and International
Business from GGSIPU.