Wednesday, November 19, 2008

Shown The Way Out

The global financial crisis has affected almost everyone. Either its the looming danger of losing your job, or the fear of complete closure of the industry itself. In this current scenarios, as small and large companies are desperately trying to be in the green, cutting down on the excess workforce seems to be the first viable solution for them, as generating any profits seems definitely seems out of the question. So spending so much on operational costs seems most "wasteful", given the fact that they are getting back very little in return.

Cutting cost by other means, certainly was of some help, but wasn't enough. Like the lavish perks showered on the managerial level have been choked this year. So no expensive gadgets, leather handbags or luxurious Caribbean cruise for them this year. Others got their salaries cut down significantly, or were denied the raise that was promised to them. Companies planning to come up with new launches have put their plans on hold. But things didn't seem to get better in spite of all this, and some were even forced to shut down.

Many IT companies have or are planning to cut down the so called "non performing" work force. And hence the dreaded pink slip with the dismissal notice, makes many cry these days. Or the fear of getting one soon, gives nightmares to many. Even the small scale workers are feeling the pinch. Working on a daily wage basis and with not much of financial backup, things seem very bleak for them. Searching for alternatives is quite difficult. Though i believe these workers will probably be more successful at getting work in alternative fields, than the IT chaps.

So, how do people react to this. Well they certainly wont be jumping with joy. There is a lot of anger and resentment among the workers, towards their employers. But it hardly seems the appropriate course of action. The employers either have the option of hitting the floor with bankruptcy or facing the wrath of the employees. Trying to toe the line carefully between a communist and capitalist ideology, the later seems to be the most appropriate, as it gives the opportunity for the employer to maintain financial credibility, and maybe even take back the employees in the near future. But that's just what i feel as the most appropriate thing to do. Whether it will happen or not, I am not sure.

Whether they are air hostesses, banker or a daily wage worker, times are tough. But we all have to go through it nevertheless. I just hope that things go back to normal very soon, and people can safely afford to sleep at work, without the fear of getting dismissed. Till then, people will be at the edge of their seats, hoping that its not them next. That's the situation all over the world. How good or bad things will go from here on, is a big mystery that no one is sure about.

1 Comment:

Anonymous said...

Hey Aslam yeah it is now becoming a Threat to People all around the World as we don't know when we will become a Victim...I think it will take along time considering the hike in Prices of different commodities etc..Lets c