and I feel fine…Or do I? After yet another day of dismal news regarding job cuts (I no longer follow the market because I feel it is too erratic, but I do follow job reductions), I could not help but wonder if the world has changed in a way that we have never seen before.
The short answer in my mind is, yes, it has. I mean AT&T alone announced 12,000 job cuts yesterday, Citicorp, 50,000 several weeks ago and the auto industry is claiming 200,000 best case and 3million worst case (Although I do not agree, another topic, another time). While I am not an economist, for g-ds sake my MBA is in management, I do believe that these jobs are lost forever and will not be regained without the emergence of a new sector/technology/market.
The scary thing is the only sector I (again, only my opinion) see emerging is that of web 2.0 (or are we up to 3.0). Most of the uses of these technologies will be to help businesses market and promote themselves in more inexpensive ways and probably with the help of less people.
I am wondering if anyone out there has any thoughts of where all these people losing their jobs will go and what they will do?
Thoughts? Anyone?
