World banks like Citigroup, HSBC, Bank of America Merrill Lynch and Barclays are axing their employees with a rapid pace and fears amongst the employees are the same as it was during 2008 credit crisis. Last week Citigroup has shed off 100 jobs and HSBC will soon axe its staff as it plan to cut as many as 30,000 worldwide in the next couple of years.
“First we lost our jobs and now it’s the time for Indians to face the music. The effect of recession are worldwide it is just like chain reaction where everybody who has benefited earlier would be affected now in some way of other, says Frenk Bani, of Fred Loya Insurance.
“Over the years Americans have seen their jobs are being taken by Indian and other South Asian countries and now it is time that even their jobs are safe and slowdown is taking its toll their job, adds a rep of Fred Loya Insurance. “I fear what will happen in future as slowdown is going to stay here,” says an intern working with Fred Loya Insurance.
No comments:
Post a Comment