One job lost in every 10 seconds in the world

• In December, companies across diverse sectors have announced at least 115,000 job-cuts, a figure which translates into an average of more than 8,200 people being laid off a day or about six every one minute.

• More than 30,000 jobs were lost in the first week of December itself. But in the following seven days, the number nearly trebled to touch about 85,000, with the U.S. being accountable for more than one-third of the layoffs. The country has already seen a shocking 5,33,000 job losses in November alone.

• some of the major companies who have been laying off people too much:

1. Bank of America-plans to axe 35,000 jobs in the coming months
2. Sony -16,000 layoffs
3. Rio Tinto- all set to trim its headcount by 14,000.
   

I think lesser jobs will mean lesser incomes leading to lesser expenditures leading to lesser market demand, resulting in widening losses and yet widening crises. This was on a macro scale, on micro scale...a good management is always characterized by long sighted vision for future....the crises was born because management of various such affected organizations went on to make quick money and indulged themselves in the subprime fraud and now later repenting...these job cuts are short cut quick recovery trick with long & wide negative impact on themselves. But these company heads are also not that stupid that they will not think about long term effect but I wonder what could it be that they are planning to curb this problem???