30 Oct 2008

The CE Ultimate Layoff Debate

This thread aims to seek various views from our crazy engineers all over the world about the latest wave of lay offs happening all over.

To start with here are few points that we'll cover:-

  • Layoff : the ultimate option for the companies in its bad times
  • The companies lay off its people: brutal or 'professional'?
  • The 'layoff package' offered to employees: justified?
Et al.

Get started!
gohm

gohm

Branch Unspecified
04 Nov 2008
It is all about the $$ now. That is why companies lay off without furlough nowdays. Really you are having your employment terminated for economic reasons. It is more cost effective for the company to reduce overhead by eliminating positions and then filling them later at a reduced cost with new hires.
neo1786

neo1786

Branch Unspecified
10 Nov 2008
layoffs are unprofessional......the company is letting go of ppl who wud stand by it in diff times..........i agree tht some companies dont hav an option,but it is still unjust on the employees part
sauravgoswami

sauravgoswami

Electronic
10 Nov 2008
well i wonder if any employee can work in the company without being paid for 6 months even if the company promises hefty bonuses after making profits.
durga ch

durga ch

Communications
13 Nov 2008
Intel , Applied MAterial and National semiconductors have put forward thier estimations for the fourth quater.
And Sadly it looks sacking is on its way 😔

https://www<dot>nytimes<dot>com/2008...echnology&oref=slogin&oref=slogin&oref=slogin

source NewYork times
sauravgoswami

sauravgoswami

Electronic
14 Nov 2008
So global reccession has not even left semiconductor companies,wonder which profession is safe these days,goin back to farming is a good option
durga ch

durga ch

Communications
03 Jan 2009
something different form the trend

big shots like Yahoo! and CISCO are finding alternate employement for the staff they fire.

IT cos hunting jobs for their staff - Software & Services-News-Indiatimes - Infotech


:smiles:
aashima

aashima

Branch Unspecified
04 Jan 2009
Different companies are incorporating different ways to do away with the losses due to recession. Iflex has reduced the package flat by 60k per annum. Many companies are increasing the working hours while under the same package to generate more revenue per hour. Wipro has done something all the way different. They have provided the joining letters well in time but have made them join Wipro BPO instead of Wipro Infotech for which the recruition was carried out.
Reducing the packages, increasing the working hours is still better than laying off. Getting another job in this tough time is far bigger a task.
sauravgoswami

sauravgoswami

Electronic
04 Jan 2009
well most of the compaies are using it to their effect,even if they are not in recession they are still giving pink slip to their employess as far as IT is concerned IT cos which are depended on finance sector have been hit hard,those who havent diversified their business have suffered the most!!!! and there are still job in companies who are not catering to finance sector,of-course you will paid less but quality of work is far more better than IT czars!!!!
Differential

Differential

Branch Unspecified
27 Jan 2009
Here is something.


Over 70,000 job cuts announced in a day

January 27, 2009
The deepening global economic recession claimed over 70,000 jobs in a single day, with six companies, ranging from manufacturing to telecom across the US and Europe, announcing job cuts as part of a cost cutting measures to grapple with the slump in consumer spending.
With the bloodbath in the job market on January 26, the tally of total jobs lost in January so far crossed two million.
Construction machinery manufacturer Caterpillar, pharma major Pfizer, telecom firm Sprint Nextel Corp, home improvement retailer Home Depot were among the six major firms that announced massive job cuts.


Read the full story here...
rediff.com: Over 70,000 job cuts announced in a day

Share this content on your social channels -

Only logged in users can reply.