Abstract
In the immediate aftermath of 9/11, the American population had its eyes fixed on Wall Street with fears that after such an attack, the world's economic superpower might not recover. Stock exchange shares were expected to undergo a sharp drop, the airline industry was ailing, as well as the car and insurance industries. What was going to happen? The word 'recession' came up to the minds of all. After such a blow, what else but deep recession was to be expected? And such a scenario will eventually lead to companies laying off hundreds, if not thousands of their employees. This was the general belief among American citizens. The attacks created an unprecedented crisis and trauma and its ensuing consequence, were the layoffs operated by big companies out of a need for survival.
