In a large multinational company…………..
A fire alarm rang at 4 PM in a large office when almost all employees
were in office (approx 5000). As usual the entire office was evacuated
within 3 mins & all employees gathered outside the office in the designated area
waiting for further announcement.
The Security Officer in charge made the following announcement: “Dear
employees - with sincere regret I have been asked to announce that for
many of you it will be your last evacuation drill. Due to the recession
the company is laying off almost 50% of its employees. So when this
announcement finishes, I ask all of you to move back into the building
and if your swipe card does not work then it means you have been laid
off in which case you will not be allowed inside and all your belongings
will be couriered to you by tomorrow.
The Company has used this innovative approach as we didn’t want to fill
up the email box with lay-off mails and good bye mails in thousands &
also to avoid any fight inside the office and the consequent security
issue for all staff.
Hope you have had a rewarding career with us and all the best ahead.
Please move back in & try your luck!!!
After AIG bailed out, following of Morgan Stanley, Lehman Brother, Merrill Lynch struggled in the credit crisis. The global economy crisis is coming as Tsunami effects, the crisis spread anywhere and lead us into difficult time at this moment. Goldman Sachs, which has fared better than many rivals during the downturn, last week began a planned 10 per cent reduction in its 32,500-strong global workforce. That cut is part of the expected fourth-quarter cull. Most other US banks have already announced cuts. Citigroup is in the midst of scrapping 23,000 jobs, Merrill Lynch has lost an estimated 5,700 – nearly 9 per cent of staff – while Morgan Stanley has made 4,400 workers redundant, according to Bloomberg data. Read the rest of this entry »
Spain encouraged the mining of precious metals, but Central American deposits were thin, and agriculture came to dominate the economy of the colony. Cacao, mostly grown on the Pacific coast, was the principal export of the 16th century, but in the 17th century it declined because of competition from areas with better access to markets. Indigo eventually replaced it as the principal Central American export. Yet most people were involved only in subsistence agriculture, with large haciendas, in feudal style, raising cattle and grains for the local population. In the 17th century especially, as European rivals and Caribbean-based buccaneers raided Spanish commerce and shore settlements, the Kingdom of Guatemala withdrew into a self-sufficient, feudallike existence. Read the rest of this entry »
The Niger valley is sparsely settled, although there are population concentrations in the lake region and near the confluence of the Niger and Benue. From the 13th to 16th century the valley was the heartland of the Mali and Songhai empires, and some of the river towns date from this period. The ethnic pattern along the course of the river includes larger groups—such as the Bambara, the Malinke, the Songhai, and the Zarma (Zerma, Djerma)—occupying both sides of the river above the Nigerian boundary, below which there are many small ethnic groups. Read the rest of this entry »
Is a growing and relatively open economy. In 2007, the economy of Malaysia was the 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion with a growth rate of 5% to 7% since 2007. The Southeast Asian nation experienced an economic boom and underwent rapid development during the late 20th century. With a GDP per capita standing at US$14,400, it has, from time to time, been considered a newly industrialized country. Read the rest of this entry »
The Japanese Economy experienced a ‘miracle’ growth phase after the end of the Second World War and up until the 1980s to become the second largest economy in the world. However, in the 1990s it experienced a ‘Lost Decade’, and some of its structural problems continue to hold it back. Thanks to low tax rates, plenty of economic freedom, and a system dominated by the private sector, Japan’s economy is the second largest economy in the world and the largest in Asia, based on real GDP, market exchange rates, and nominal GDP. Read the rest of this entry »
Singapore’s far-sighted economic policies have helped to transform the Singapore economy into an Asian powerhouse. Exciting developments such as the integrated resorts will continue to change the face of the Republic.
The Singapore economy is an example of a vibrant free-market economy that is developing at a rapid pace. The per-capita income of the country is very high and it has been supported and strengthened by a corruption-free environment, an educated and motivated workforce, and well-established legal and financial business framework. Read the rest of this entry »
The old Soviet banking system was established by the credit reforms of the early 1930s, which centralized practically all short-term credit in the hands of the Gosbank (State Bank, established in 1921). There was much restructuring of banking during succeeding years, mainly to ensure that the system became an effective instrument for carrying out the national economic plan. The Gosbank’s control over payments flows was also tightened in order to maintain stability of prices. The activities of the Gosbank are by no means limited to purely financial operations, and it actively controls the implementation of production and financial plans and the spending of wages funds. In addition, it has a monopoly of the note issue and is responsible for putting money into circulation. Read the rest of this entry »
Branch of social science, which later developed into economics, concerned with the raising of revenue by the state and the increase of the state’s general resources. The term was introduced about the beginning of the 17th century to describe the study of the problems of the princely states, which at the close of the Middle Ages in Europe replaced the feudal-ecclesiastical political order. Adam Smith, the first to present a comprehensive systematized study, seemed to equate political economy with the treatment of “the nature and causes of the wealth of nations.” Read the rest of this entry »
Economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises. In such a system, determining the proportion of total product used for investment rather than consumption becomes a centrally made political decision. After this decision has been made, the central planners work out the assortment of goods to be produced and the quotas for each enterprise. Consumers may influence the planners’ decisions indirectly if the planners take into consideration the surpluses and shortages that have developed in the market. The only direct choice made by consumers, however, is among the commodities already produced. Read the rest of this entry »