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  1. #1
    Outsourced Program Manager Nick Prussakov's Avatar
    Join Date
    July 23rd, 2006
    Posts
    220
    Crunching On...
    Every single day brings us astounding news on that credit crunch issue. Tens of thousands of highly-qualified people are getting a boot. What is going to happen to the recruitment market now?! It will be mental!

    Lehman Brothers goes bust
    HP's restructuring program

    Who's next?

  2. #2
    ABW Ambassador
    Join Date
    January 18th, 2005
    Location
    Nunya, Business
    Posts
    23,684
    Yeah, not good:

    Dow falls 504 as Wall St. woes batter stocks

    Lehman Bros.' bankruptcy and deepening worries about insurance giant AIG send stocks to their lowest levels in two years. Early euphoria about Merrill Lynch's sale to Bank of America fades. Crude oil falls below $100.

    http://articles.moneycentral.msn.com...6682&GT1=33002

    What's more amazing to me are some people are still delusional about our economy. Oh, it's still good, this and that. I'm talking about as a whole, individually there's going to be people doing fine.

  3. #3
    Moderator
    Join Date
    April 6th, 2006
    Posts
    2,689
    I was in the investment industry before going this self-employment route, and watched CNBC all day.. to see people leaving the Lehman offices in midtown carrying personal belongings in boxes was shocking. I also used to work at AIG, and there is now a mad scramble to save the company.. which is incomprehensible to me.

    Affiliate marketing has been challenging lately, but today I realized it's nothing compared to what thousands of people will face.

    The financial industry just isn't used to this type of massive disruption in employment.. I don't know where many of these people will find jobs..

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