200,000 job cuts have been announced so far this year, and nearly 2.6 million jobs were lost in 2008. this is the highest yearly job-loss total since 1945!!!
the last time i saw this number was after the millennium bug and the quick rise/fall of DOTCOM (2000). i remember thousands of IT PINOYs were sent back home as they lost their H1-B sponsorships (i for one was one of them :()
but like the last recession, i still believe that things will settle in a couple of months..
read more about the report from CNET News.