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Feeling insecure about job...

 
Greenhorn
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Hi friends,
Today I heard that a software company 'X' removed 2500 number of employees as it was getting loss due to dollar price. I fear that slowly every company will start to discontinue employees.

What can be the exact reasons? is it a something that we should worry about? what do you think what shall we do to secure ourself from getting discontinue ? it can be anybody..
 
Saloon Keeper
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I take it you haven't experience a recession before. The news this morning about Lehman Brothers and Merrill Lynch can be expected to result in more layoffs.

So far, the IT industry has suffered only lightly compared to the last recession. I think that in part it's because IT is a growth industry but the companies never really built back up staff after the last recession. Complaints about overwork are rampant - any attempt to pare down staff much further would likely fail.

Nevertheless, it's a good idea to make sure you keep your finances well-managed.
 
Author
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You and I have no control over these events, but what we have control over is

-- to prove ourselves as great contributors to our current employers, so that we can survive lay offs.

-- to expand our skills, both technical and non-technical to put ourselves in a better position if needed to look for another job.

-- to learn to market our skills and capabilities more effectively to stand out from our competition.

-- Network with the fellow professionals. Keep in touch with our former colleagues and bosses.
 
Ranch Hand
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I assume you are from India and in India the job market is not bad at all comparing with recession period during 2001. Yes many companies removing employees based on the employees performance. So as long as your performance is good you don't need to feel insecured.
[ September 16, 2008: Message edited by: KJ Reddy ]
 
Ranch Hand
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Is the India job market not tied to the US recession ?
 
Ranch Hand
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Why not ? India still has greater dependency on US market. For instance with Lehman Brothers coming to an end, even Indian workers are feeling the heat.
[ September 16, 2008: Message edited by: Srikanth Basavaraju ]
 
Ranch Hand
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Sorry for deviating fro topic ...Is US market is really so bad that Lehman Brothers has filed for Chapter 11 bankruptcy after Barclays and Bank of America abandoned talks to buy the company .Moreover the Bankruptcy represents the end of a 158-year old company that survived world wars and the collapse of Long-Term Capital Management, but could not survive the global credit crunch.

It is still unclear for me why Bank Of America preferred Merill-Lynch rather than Lehman-Brother ???
 
Ranch Hand
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I understand being insecure as a fresher. Its common at that stage. However once you gain experience loss of job should not spell big trouble.

Loss of job is troublesome if you have lot of bills to settle. My suggestion is never to get in to credit mode. Its a vicious cycle. Come out of it as soon as possible.

As mentioned above by Arul, improve your skills. Always have some backup plan just in case..Teaching at college

Starting your own small time business.

Dont be worried about things which might not happen for sure !!!

Enjoy !!!

---Ayub
 
Ranch Hand
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Can you tell me whose job is secure for lifelong? Atleast we guys are lucky that we atleast know we will get salary when there is no recession..what abt those vegetable sellers , daily earning people, they don't know if they will earn anything after full long day of work just a thought ..so just chill
 
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