The Indian hiring spree is history and pink slips seem to be the order of the day. Global recession is taking a heavy toll on the Indian economy. On Wednesday, Jet Airways [Get Quote] said it will fire 1,900 employees; many more companies -- in sectors like IT, manufacturing, aviation, textiles, real estate, etc -- are likely to follow suit.

In these tough times, what should you do?

Are you afraid you might lose your job? Or have you, or someone you know, lost a job? How are you / they coping?

Are companies justified in the manner in which they are laying off people? How do you think should companies cut costs?

Will the job market improve? What do you feel? Share your thoughts with us!