Meltdown Effects

  • More layoffs, Philips to cut 1,600 healthcare jobs November 24, 2008

    New Delhi: There seems to be no let-up in lay-offs. The latest in nad news on the economic front is the announcement by Dutch electronics giant Philips which is cutting about five per cent of its 32,000 strong workforce in the medical division worldwide. This will affect 1,600 workers, most...
  • Brown warns UK heading into recession October 23, 2008

    London: British Prime Minister Gordon Brown said Wednesday that the global financial crisis was pushing his country and other major world economies towards recession. Brown's warning follows similar gloomy predictions a day earlier by Bank of England Governor Mervyn King, who also hinted at further interest rate cuts to come, prompting...
  • Economic meltdown reaches grassroots, claims life October 23, 2008

    Mumbai: The Sensex closed 500 points down on Wednesday. The volatility and the meltdown is slowly claiming victims. A man committed suicide in Mumbai after killing his pregnant wife, he is said to have lost all his investments in the market meltdown. A deathly silence hangs over this building in...