Media industry shocked as Corporate Giants are announcing layoffs

I was shocked when I saw news items saying layoffs in various media companies. I knew that recession will affect digital media industry as it's revenue model largely depends on conventional media industry. However, recent news coming from various sources about layoffs is alarm for this growing industry.


Real media is laying off 7.5% of its staff. More important is: company communicated this news through its blog. Company did not event felt to communicate it through official mail. Anyways, another news came from Giant NBC Universal.

Reports say that NBC Universal is laying off 500 employees. Of course, this is effect of global recession which we are going through. Well, telecom, only segment of industry which was expecting to register growth this year is facing problems.

Telecom giant AT&T is laying off whopping 12000 jobs as a part of reducing capital expenditures. I don't know where this will end but one thing is sure that so called globalization and open economy has failed to create sustainable ecosystem.

Viacom, another in the list has also announced 850 job cuts through official mail. Of course, all these news are coming from global headquarters and regional operations would suffer more or less due to this.

We are lucky enough that still our economy has not been affected. However, I am not sure how long we would be sustaining. Weak political structure and dependence on foreign economy are major forces which will afect Indian economy and I don't think we can stay out of this for longer period. Lets hope for good...

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