One of the most glamorous and sought after industries, especially among the Telugu people, is the software industry. The plush MNC environment, centralized AC workplaces, fat packages, five day weeks has got into all. However, the shine and glamour of the industry is now showing its other side.
Just recently, the market came out of a global slump but again it is heard that the software industry is gripped by recession tensions. This would mean cost cutting measures and it could lead to massive lay-offs, cut in salaries or hikes etc. Due to this, many software professionals are finding it hard to go for purchases of flats or houses.
Even the financial institutions and banks are now stepping back from issuing loans since they are not sure of amount recovery. On the whole, the system appears to be reaching a standstill position once again. While the SW professionals are making their own preparations, let us wait to see how the markets will shape up.
Just recently, the market came out of a global slump but again it is heard that the software industry is gripped by recession tensions. This would mean cost cutting measures and it could lead to massive lay-offs, cut in salaries or hikes etc. Due to this, many software professionals are finding it hard to go for purchases of flats or houses.
Even the financial institutions and banks are now stepping back from issuing loans since they are not sure of amount recovery. On the whole, the system appears to be reaching a standstill position once again. While the SW professionals are making their own preparations, let us wait to see how the markets will shape up.
