NEW DELHI: More than 6,00,000 Indians, many employed in the gems and jewellery
sector, lost jobs in just four months from October 2008 as the
impact of the global economic crisis hit the country's shores.
About 5,00,000 people lost their jobs in the October- December 2008 period, while over
1,00,000 were shed in January this year, the Economic Survey said.
In September, the crisis turned severe following the bankruptcy of American financial
services major Lehman Brothers. Since then, millions of jobs have been shed worldwide, as
companies resorted to massive layoffs as part of their cost cutting measures.
Source:http://economictimes.indiatimes.com/articleshow/4728174.cms
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