Anyone else get the feeling?

[Liability]

..just wait till the Hedge Funds start going.... thats when itll get fun!

[Francko]

These big companies laying off 1000s. They've been known to overreact to events in the past. Give it 4 or 5 months and some places will be desperate for bods to sort out their neglected systems. Ok, some places may not survive and fold. But my guess (and it can only be a guess) that the contracting market will pick up in the New Year. Unless the system totally self-destructs of course!

Unfortunately big companies are also very slow to react. They will have to scrap the bottom when they realise that they can't run the company with only the CEO.

I would give it at least a year (so would say 2009 would still be quite in deep tulip) before they realise the disasters they have made, fire a few big heads and then start again in the opposite direction hiring even more than needed.

[DodgyAgent]

These big companies laying off 1000s. They've been known to overreact to events in the past. Give it 4 or 5 months and some places will be desperate for bods to sort out their neglected systems. Ok, some places may not survive and fold. But my guess (and it can only be a guess) that the contracting market will pick up in the New Year. Unless the system totally self-destructs of course!

Dont hold your breath the debt markets are unravelling.

[swamp]

In the '92 recession banks laid off too many staff. They had to recruit and train from scratch in order to grow their businesses years later, and it cost them dearly. This is why they were cautious in the 2001 dip, and they have been cautious so far this time so far, just trimming the fat.

Well now it's clear we're all going to hell in the proverbial handcart the downsizing has started and it is going to be brutal. 75,000 from Citigroup, who next? Some very good people are going to be put on the scrapheap, and the recovery will be too far off to help them. This time the banks aren't worried about future growing pains, they're just clinging on for survival.


Well that's my gloomy outlook anyway!

[chris79]

The general wave/cycle will always point down, then go back up.. it's the same as the housing market.

I do share your view though that once systems begin to crumble, or lose competitive advantage, budgets will start to be authorised again.

[MrMark]

These big companies laying off 1000s. They've been known to overreact to events in the past. Give it 4 or 5 months and some places will be desperate for bods to sort out their neglected systems. Ok, some places may not survive and fold. But my guess (and it can only be a guess) that the contracting market will pick up in the New Year. Unless the system totally self-destructs of course!