2012 is turning out to be a difficult year for global jobs market. Corporates worldwide in their efforts to cut costs are going back to the age old formula by chopping at the most vital resource of all i.e. human resource. Nokia recently announced job cuts of around 10,000 globally. According to reports corporates worldwide have already announced job cuts of over 70,000 this year, including HP and Nokia. The cuts have been announced by companies from various sectors, during the first six months of 2012, and those from the technology services space are the worst hit.
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