The deeping economic crisis has taken its toll on the Job market worldwide. But look at our economy, most of the companies have refrained from biting the bullet of job cuts. They have resorted to reducing salaries and freezing increments instead to save the life of the employees. The companies across the globe needs to learn a lesson or two from Indian companies. Look at Satyam, there is no job retrenchment despite the deep crisis in the company business model and its tainted status. On the opposite side suitors are waiting to take over Satyam with its good assets and liability. Let us have a look at the announcements of the job cut by global companies. Some may include Indian jobs :
Caterpiller : 20,000
Pfizer/Wyeth : 18,000
Sprint : 8,000
Home Depot : 7,000
ING Bank : 7,000
Microsoft : 5,000
Texas Inst : 3,400
Times warner: 800
Deere & co : 700
Well as far I know this will really bring gloom to Employees across the globe, many an Indian working abroad may have to vacate their place offshore and land back in India. Only solace is that some may get a severance package and cheaper flight ticket back home due to winter downturn in air travel.
Another plus point from these job cut scenario, many couples are holding on to each other dearly and planning to postpone any idea of divorce. At least it would keep them company in the absence of jobs. We can expect some baby boomers in this crisis, to ward off the gloom.
The advice to those who are going to face the worst at the end of this month or in coming months. The fear of loosing the job is real. What do they do in the interiem period :
A) Update their resume and start floating the resume to various potential
employers
B) Increase their skills by undertaking some advanced course.
C) Take a break from the stressful period and enjoy your break doing all the
favourite pastimes, like travel, photography, blogging, sports, etc
D) Better time for starting a family, for those couple who restrained.
E) Undertake construction of house, join fitness program, Go on dieting, Getting
rid of vices and start meditation.
Hell friends I don t want to sound gloomy, hope the bad times will pass and good times will arrive in summer. Best of luck our wishes and prayers are always there for the victims of recession