Financial crisis is heating the aviation industry in india, yesterday Jet Airays laid off 1,900 staffs now, India’s largest careet Air India is in move to temporary layoff of 15,000 staff
Air India said it is considering a plan to give 3-5 years leave without pay to about 15,000 of its staff, but it would be voluntary action on the employees part.
The United States is heading towards recession with major global slowdown amid financial crisis International Monetary Fund (IMF ) in its latest World Economic Outlook (WEO) predicts.
- World growth will slow amid most dangerous financial shock since 1930s
- No growth in many advanced economies until at least mid-2009
- Global economy expected to stage modest recovery later in 2009
The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.
In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 2008— 0.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.