Tag Archives : economic recession

The beginning of the year 2010 was welcomed with open arms by people across the world, as millions immersed themselves in jubilant celebrations marking the onset of the new year that has brought with numerous special events across the spectrum of politics, science, sports technology etc. The Eiffel Tower in Paris, France was decorated with gorgeous [...]

IBM will cut as many as 5000 jobs in the United States this year, which will amount to over 4 percent of the total IBM’s workforce. Sources say that the job cuts will be administered mainly in the IBM’s global outsourcing and consulting services. These turn of events are only expected after the economic recession, probably the worst in the history. [...]

An ILO report warned that the total number of unemployed could reach 230 million, and that 45 percent of these workers are below the poverty line. As a direct consequence of the global economic crisis, 2009 could add 50 million new unemployed worldwide. In 2007, nearly 180 million people were without work. According to the ILO, the estimate for 2009 [...]

Ford, Chrysler and General Motors are all on the verge of collapse. The global slow down is still taking a toll of these auto majors in the US. The Bush Government has assured that it will not allow the “disorderly collapse” of these car maker giants. With the slash in the car sales with the economic storm, all the car makers have announced the [...]