Is it true that there will be massive layoffs in Canadian Banking Sector starting December 2008 after they start revealing their losses from the US exposure ?.

Luckily nationalized banks are hiring in India !.

Can somebody share from their personal experience who have lost their jobs are on the verge of layoff which sectors in Canada are shedding jobs or will shed jobs in 2009?. I salute those who will come out and share the truth for the sake of potential immigrants in 2009.


Thxs,

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Sunny Leone a true Canadian DESI now back in India !.

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Originally posted by Vandematram

Is it true that there will be massive layoffs in Canadian Banking Sector starting December 2008 after they start revealing their losses from the US exposure ?.

Luckily nationalized banks are hiring in India !.

Can somebody share from their personal experience who have lost their jobs are on the verge of layoff which sectors in Canada are shedding jobs or will shed jobs in 2009?. I salute those who will come out and share the truth for the sake of potential immigrants in 2009.


Thxs,

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Please do read the papers of Canada for more accurate news.
You can read : Toronto Star, Globe and Mail for the most accurate information.
In the Radio news that I hear is all doom and gloom. Based on what I hear is the following :

Banks will be set to trim jobs with the relase of the 4th quarter results.
Though the govt. denies it, Banks are in a worse position than was earlier thought.
Auto sector is going to go through a period of job losses and wage cuts irrespective of if they get a bail out or not.
Alberta oil sands jobs are set to be lost and the laid off workers will return to their previous jobs, thus putting pressure on the system.
Construction jobs will be lost as building activity will reduce.
Home values will decrease.
People will not have jobs to afford spending.
Retail industry is going to take a hit. Service industry is going to take a hit b'cos people will not spend
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To look at the situation positively :
This was even the condition when I came to Canada in 2002. But then I started off in labour jobs at $8 an hour and after lot of struggles landed up in a office job which paid me $10 initially and now $13 (after 6 years). If you really are coming to Canada to start a new life and want sucess after 1 or 2 years of struggle, this is a time to come. I would advise you to come and retrain yourself for a year so that you will be welcomed in to the banking industry after 12 to 18 months when things start to go well.
However, if you earn around Rs. 75,000 or more in a metro (and Rs 40,000 or more in a town), then you really have to set your priorities as the roads in Canada is not paved in Gold and it is mostly for the poor and struggling people in India to make it big here or you have to be a ultra rich guy in India to make it big here. Professionals (excluding IT) are the people who take the biggest hit in Canada and need the biggest struggle in Canada.

Hope this helps.

Peace by TK

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I am a Gents and not a Ladies.

Here are recent Job cuts announced

Citigroup to cut 53000 jobs
Sun Micro to cut 18%
Yahoo to cut 10%
Goldman Sach 10%
Morgan Stanley 10%
American Express to cut 10%
Wells fargo to cut thousands of Jobs
DHL to cut 9500 jobs
Gannett to cut 3000 Jobs
Whirlpoo to cut 5000 jobs
yahoo to cut 10% jobs
LAT to cut 10%
Nortel to cut 1300
Philips to lay off 1,600 workers
Circuit City filed Bankruptcy
Linen and things filed bankruptcy
GM, Ford to cut thousands of jobs or will go out of business

additionally many mutual funds, and other sectors have annouced and or will be laying off

Corporate Layoffs: The Worst is Yet to Come

Please read the story by copy and paste :

time.com/time/business/article/0,8599,1856392,00.html

Keep well,


Cheeers!

The following companies are at a serious risk of going bust as well -

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Originally posted by Krazzyfour
Goldman Sach 10%
Morgan Stanley 10%
Nortel to cut 1300

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Quote:

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Originally posted by Krazzyfour

Here are recent Job cuts announced

Citigroup to cut 53000 jobs
Sun Micro to cut 18%
Yahoo to cut 10%
Goldman Sach 10%
Morgan Stanley 10%
American Express to cut 10%
Wells fargo to cut thousands of Jobs
DHL to cut 9500 jobs
Gannett to cut 3000 Jobs
LAT to cut 10%
Nortel to cut 1300
Circuit City filed Bankruptcy
Linen and things filed bankruptcy
GM, Ford to cut thousands of jobs or will go out of business

additionally many mutual funds, and other sectors have annouced and or will be laying off

Corporate Layoffs: The Worst is Yet to Come

Please read the story by copy and paste :

time.com/time/business/article/0,8599,1856392,00.html

Keep well,


Cheeers!

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