A couple of weeks back, we heard about Intel slashing 1000 jobs. Yesterday, it was AOL, cutting down their workforce by 5000.
All this brings back the not-so-fond memories of dot com crash couple of years back.
Though India so far has not been affected so far since we are cheap, that might no longer be the case anymore in the near future due to the rising wages here. The IT boom and the resulting high salaries of IT professionals in India is the very thing which migh take away the Indian advantage, of Indians being more cost effective.
Are these a sign of bad times ahead? Not a very comfortable thought I must say ...