Its in the biggest slump in years!!!!

Projects have dried up!

Hiring was minimal in the last fiscal year!

IBM, last years biggest hirer didnt conduct a single "OffCampus" Placement drive, and the ones it did pick right off the most prestigious institutes are still awaiting a date, more than 8 months post completion of their degrees!

Infosys, Satyam and TCS didnt conduct any major drive all most of 2007, all drives postponed to 2008!
Accenture had the maximum intake, but soon realised that it had no work on hand! So everyones put on hold, its still trying to fit in the last few hundreds HOPING thats some of them would be thrown out in the rigorous training process, to make room!

Companies are firing employees left right and centre!
TCS fired over 500 employees!
Accenture fired around 1200 benchers!
IBM fired around 900!
Other significant numbers for Infosys Satyam etc!

All fresh recruits are on hold! Fresh Joinee's have been postporned to the nest fiscal!
I know, im on the recieving end!

And with the Sensex plummeting, or now unstable, this trend would take time to mend! The rupee gained too much comapred to the Dollar! Its on a 11 year high!
Judgement day, anyone? Wot's Dubya doing??? Does he need Iran to stabalize the economy now? Or Korea?

Nothing like poorly coded software and terrible documentation strait from India