The economy around the world is in bad situation.Moreover the Aviation Industry all around the world is getting worst everyday.As a lead to this the Kingfisher Airlines has made a salary cut to its 50 trainees in as pilot.After this salary cut,the Jet Airways has now announced that there will be 10 percent reduction in the salary for junior pilots and for the employees in maintenance side.Around 2000 employees are getting one lakh as salary.

The renumeration of the pilots here in JetAirways is said to be higher and now this will be reduced considerably.

According to aviation analysts, Jet Airways, which posted losses to the tune of Rs 384 crore in Q2 of the current financial year, is likely to post a net loss of Rs 1,890 crore in 2008-09.

Many aviation industries are involving in cost cutting strategies and layoffs.There may be more news related to cutting the expenses down from the aviation industries in near future.

The world is facing the recession.As the economic condition globally goes worse, day by day,the companies are in fear to get into bankruptancy.Earlier it was Lehmann brothers and Meriyll Lynch which were the giant banking sectors of America announced their bankruptancy.

Many companies started to involve in cutting down their expenses and underwent all the strategies to save their company from downfall.In this line, now the banking giant of United States,JP Morgan has announced that it will reduce 10 percent of its workforce this year, i.e nearly 3000 employees will lose their jobs.After Goldman Sach’s layoffs,JP Morgan has announced this.Since there is no other option for the company to be financially strong in this economic gloom, they have to undergo firing the employees.

Moreover the company has announced that, they will freeze the salary of employees for the next year, who earned $60,000 to $70,000.These announcements made by JP Morgan will definitely have a great impact on the markets.

The economic gloom and the layoffs started to haunt the governments all over the world and especially India has started to feel the Buzz, since the IT companies here which are dependent on the financial sectors in United States, will be forced to loss, and the projects will be reduced affecting the outsourcing too.

The Unemployment in United States will also definitely have a significant impact on India and outsourcing might be cut down.Anyways lets hope the best to happen soon.