Cost cutting - Fuelling the 'Great Recession'

Is your organisation acting like a scrooge and cutting costs? Is it limiting wage hikes and taking away perks? Is it introducing measures to save a penny here and a penny there in the bills? If that is the case, your organisation may be one of those contributing to the continuation of the 'Great Recession'.

Somewhere in the year 2008, the global economy went into a recession like one that the world had never seen before. Yes, the Great Depression of the 30s was 'great' but it wasn't global, the impact was limited to Europe and to some extent to the Americas. But what happened this time was truly global. Some of the leading investment banks of the western world had to be sold off. The governments had to step in to protect the leading financial organisations of their countries using the taxpayers' money. There were widespread layoffs across the world. There was a global recruitment freeze and even MBAs from the top business schools could not get jobs matching their profiles.

What was the reason behind all this? Experts gave their narratives which...  Read more>>
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