More Job Cuts in this Financial Downturn

With financial crisis and the fear of global recession engulf everybody in the world. With financial crisis there are some sectors which are more vulnerable to job cuts.

Some industirs which will suffer the most :

1. Housing : The sector which was the root cause the worst financial crisis after 1929, Great Depression, is now also the most vulnerable in terms of job lost, and will witness more layoff in days to come. Jobs which are more vulnerable in housing sectors are Mortgage brokers, homemakers, mortgage lenders, commercial real estate and real state agencies.

2. Financial : After housing , financial people found their jobs more un-secure in this crisis. With stock market tumbling world over, and no body in the financial markets are lending money to each other, which leads to a bad business for banks and the financial sectors and thus may result in more job cuts.

3. Retail : Even before the financial crisis, retailers were railing with the rising oil prices and rising inflation, which kept the customers out of shopping counters. But after the financial crisis, the thing seems to even worsen for the retailers, with more layoff looking over different sectors, and people want to cut on their spending, in order to save money for the worst time ahead. As more and more customers, spending less, which means hard time for retailers.

4. Autos : Just like retail, first it was oil and now its liquidity crunch which is falling on the revenue of the auto majors in the industry. While sales at big three automakers had already taken a hit this year, and prediction is not that good for the last quarter, which may leads to more job cut in this sector also.

5. Travel : Airline sectors have already started layoff before the crisis, and after the crisis, with customer liked to save their money and corporates liked to cut costs by leveraging technology which kept their employees from traveling. So as less people travel this season, which means more layoff in this industry.

Thanks&Regards,
Mohit