A dozen or two companies have retrenched about 10,000 employees in various countries due to the
financial crisis.In United States of America half a dozen firms have started to retrench their workers.Companies
like DHL,HCl,Microsoft,Walmart,etc have closed some of their units in U.S.
In India several firms have retrenched their employees and some have given an unpaid leave.Jet Airways has
retrenched around 1000-2000 airhostess and stewards.Bigger Firms like the TATA motors have shut down
their factories for a week or so, as the number of buyers have decreased.Ashok Leyland has also shutdown
some of its units in the country due to the crisis.The number of placements in several colleges in India have
been reduced and the students are finding it difficult to be placed as they need to score high in their UG or PG
courses.
It might take a year or so in bringing back the countries to square one.
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