Agreed that when company is making losses it has to let some people go. But are there any rules to follow? Any regulations to govern the private companies? Can the company pick people at their will and terminate them under the tags of "poor performance" or "redundant skills"? Can the company issue letter stating their business unit is making losses hence they are releasing you? If the skills of experienced workers are not matching, how will it match with the freshers, without providing the necessary training? Do we agree that the line manager is getting promotion and hike while hundreds and thousands are being asked to leave?
Re: What process should the company follow?
by Marutheesh Bellary on May 30, 2017 06:43 PM
(contd..) the very fact that layoffs are happening shows someone at the top did not do the right thing. Should s/he be let off just like that while many at the middle and lower levels are suffering?
Lay Off itself is simple incident but its financial consequencies are worst.Twice I have faced it.Financial liabilities are most horrible to shake our confidence,I felt this in first lay off.So I created emergency fund ,worth for one year.I considered petrol bills,pizza parties etc. too in calculating this.Secondly I expanded my friend circle to help me morally and to help me in hunting job.To balance the stress spent more time in daily devotions.
Second round recession is approaching. TCS is getting prepared for that!!!!
Our software are sold outside particularly US, Europe & ME. So, if the recession is approaching there, it is better to be prepared now to avoid big impact!!!
Re: Verify this and reply
by Pat Thakur on Jan 11, 2015 09:55 PM
Case? That's the universal truth. bosses never want to let people, brighter n skilled than them, go ahead.
Nice post on how to cope of when we get laid off. Life of IT job is not permanent. Here are some of the tips for IT professional to answer to themselves;
a) Do I have emergency fund to survive in case of job loss? (At least 6 months survival which includes your loan emis and monthly expenses & children expenses)
b) What are the skills present IT market need? Do i have the skills? Where do i stand in IT job market?
c) Do i have healthy relations with my employer? If not decide yourself is it time to move out of the company?
d) Never feel too much comfort in the present job, because we never know when the disaster comes. So always prepare to accept situations. e) If loose the job, never feel shy and don't say lies about your layoff during interviews. f) You need to be confident on yourself and learn new skills which required in IT market.
I also lost the job, I listed the above lessons that i learned. I felt very happy for my layoff now. because it gave me opportunity to learn the survival in job loss and made me to learn new technologies for present IT market.
Re: Hari
by Marutheesh Bellary on May 31, 2017 05:30 PM
Nicely articulated !! Regarding...e) If loose the job, never feel shy and don't say lies about your layoff during interviews..... layoffs are generally considered as removal of bottom layer consisting of low performers. Interviewers do not encourage the categories of 'Layoff', 'downsized', 'terminated for other than misconduct', 'currently on bench' etc. With many companies following the suite, hope this trend changes now.
Its a commonsense which all employees should have that if a company is not doing good, it has to cut down its cost wherever possible. It's a question of survival.
Further, no jobs are permanent. If you get a good package with another employer you will leave without thinking about your present company and job!!! So, employees could think about their benefit, but an employer is not allowed to think or to do so!!!!!
Firstly, being an employee he shouldn't stick to one company or job. If an employee is competent enough, he will find job anywhere in the world, but the incompetent employees will stay in one place and keep on blaming their company, because they don't have confidence and courage to change the job!!!
NO employer is ready to lose good employees who really makes the difference. There are lots of idiot and self-centered bosses who don't respect quality and hardworking. In such cases where there are recognition of hard work, it is always better to leave the company.
So if an employee is competent enough, no need to be panic!!!!
Very important is Do Not narrow your job experience!!! This is too dangerous for an employee's career. Try to be multiskilled employee.
Re: TCS or any company has right to layoff employees
by killampalli sridhar on Jan 11, 2015 09:02 PM
Agree, however TCS is not in a bad situation, employees are not prepared for this situation
Re: Re: TCS or any company has right to layoff employees
by R C on Jan 11, 2015 10:11 PM
Second round recession is approaching. TCS is getting prepared for that!!!!
Our software are sold outside particularly US, Europe & ME. So, if the recession is approaching there, it is better to be prepared now to avoid big impact!!!
have done great disservice by portraying rich companies as some sort of evil.. on the contrary they manufacture most of the stuff that you use starting from toothbrush to diapers to cycles to medicines.
Better make yourself employable. Do not ask for a job, but deserve it. Be a man. Have some dignity.
Yes not all companies r not good, just like all employees r not good.
