Thursday, January 08, 2009
Posted at 2:39:00 PM
Industry chamber Assocham was lambasted for making some scary predictions late last year. They had said on 29October that post Diwali, Indian industry would see job cuts as high as 25%. Most newspapers picked it up and ran it prominently on their business pages. Not surprisingly, unable to substantiate the 25% bit, the chamber had to run a formal apology the following day for creating needless panic. But now when you do go back to the story, their ‘prediction' that "lay-offs, slashing of perks, incentives, bonuses and freeze on recruitments.