Team-BHP - Effect of Recession on our Jobs

Quote:

Originally Posted by kpbhatt (Post 1220882)

Getting retrenched next week -- on 27th June -- Gudi Padwa day. Will be paid(hopefully) for 2 months of salary for the notice period shortfall. Am starting a job hunt for a PM position in all possible cities -- Pune, Mumbai,Hyderabad, Bangalore, Noida, Gurgaon, Ahmedabad. Do PM me if you have anyone in your organizations looking for a 10+yr experienced IT PM.

thanks
kpb.

Error in above statement -- its 27th March and not June . Looks like I'm loosing my brains along with my job

I think the really sad and unfortunate thing is the lack of empathy for IT folks because of the ridiculous tinged with heavy does of envy misconception that they are overpaid and spoilt.

Coming from fellow Indians this is pathetic and juvenile. Before the IT boom folks were barely paid with margins being monopolized by employers and what good does that do to the economy, how many mercs can you buy, with IT at least we had a more fair sharing of revenues with IT employees which fuelled the tremendous boom in our economy leading to growth and employment in other segments like realty, auto, retail, telecom, finance etc.

This is how an economy grows, with well paid workers consuming and driving more emplyment and growth in the economy, not being underpaid. It appears some folks don't like growth and prosperity to spread to larger sections of our badly off population. And what makes this useless perception event worse is even in IT relative to the rest of poorly paid Indians they may appear to be well paid but employers charge 5-10 times their salaries while paying them a fraction of that. So by no means are these folks overpaid. This is business, if anything they should be paid better, but In India we have evolved a business culture of high margins and huge disparities reflect this.

Where was I when this thread was initiated!!??

I am a story in this recession now.

Everything was fine, hunky dory till last year. Our company in India was feeling the heat but was going on fine.

Meanwhile I got an opportunity at RBS US, for their Information Security Team, which looked like something that I really fit in. I took the plunge and quit this job to come over. I had a couple of rounds of interview in India earlier and they wanted to meet me now.

I met everyone from the team, from the cable guy to the director, and they all welcomed me with open hands.

I came here to US, on the promise of a fine 1 year contract with RBS in January. While I was waiting on my SSN, they said they had pulled back the funding.

I simply curse that day of taking plunge. Quotes like "ships arent meant for harbors" urged me to take this risk even in bad times.

I cant believe what this incidence has done to my self esteem and confidence.

It reflects in everything, the way I walk, the way I talk and the way I see the world.

Everything looks rutheless in NY. That "risk free suit" is an ultimate joke on capitalism and humanity in general. It is a bad joke.

Sorry to hear that,Sid.
Having gone through a lay-off myself, and being unemployed for 4 months I know exactly what you are going through.
All I can say it,Keep the faith and do your part.As long as you are not out of status while in the US, you should be fine. I'm guessing you are on a H1-B.

While I have not been laid off or anything, I recently graduated from Temple University, Philadelphia in Mechanical Engineering, I am definitely feeling the heat. There are just NO jobs for recent grads, no one wants to hire. I had a few interviews with some companies only to hear from them later on that the position has been pulled off. This is the worst time to come out of college ! Any of you guys having knowledge of any entry level position for a Mechanical Engineer, please get in touch, I'd be very very grateful. Needless to say I am all over the job sites and calling people.

Our industry (pulp and paper) has been badly hit in North America and Europe because of the recession. Asia (China) is the only place where the market is actually growing. Everywhere else, exports have dropped drastically and mills are closing down or taking massive downtime.

Our industry was losing quite a few people to the oil industry for the last few years, but even that has stopped now as the oil companies have cut down on their projects aggressively.

Quote:

Originally Posted by RJK (Post 1221876)

RJK -- check your PM

take care
KPB

My business has shown a positive incline for this financial year over the previous years even in the time of recession. I run a no frill, low budget neat and a clean Guesthouse in Jaipur. I think this positive growth has been achieved due to the following reasons.

1. Clientele:- Since the begining i have concentrated on Corporate business rather than the tourists. And now the tourists are less and the corporates are looking for cheaper options and this is where I come in.

2. Believe in quality not in quantity:- My rooms/bedhseets/towels/bathrooms are neat and clean and the room quality is comparable to other 3-4 star hotel. Hence if the corporates are getting cheaper options with the same quality, why not.

3. Marketing :- Till now i havnt spent a singe penny on Marketing, dont even have a web site. The cleints that i get are mosty thru word of mouth publicity, and these cleints ususally stick.

But on the other hand I do sometimes get scared with the market situation and hope my positive growth continues even in bad times.

From what I hear of late, there is some tinge of reversal in the recessionary trends in certain sections of industry in the US. I hope things will improve by second half of this year. The US stock market movement may be a good indicator. We have got some fairly big deals in our company of late even though we have lost equally. But the deals pipeline has not dried up completely except for some industries such as BFSI and mfg.

Quote:

Originally Posted by nithinnarayanan (Post 1221298)

Was referring to Both :) (Admin/Facilities and on the same boat)

Aha! You are a part of Admin or in HR? i keep shuffling between the two:D

Quote:

Originally Posted by vasoo (Post 1222532)

Good sign for your company.

OT: I am in a different mood altogether. I think of going on a long drive but then think of paying toll and change my mind. Instead of Burger, its a vada pav. I have started enjoying and appreciating small small things that probably I would have never done while I was earning a good salary. Getting a "gajra" for my wife is total filmy stuff but I liked it! Having sugarcane juice at a road side stall. Having pani puri from a thelewala, street shopping, its fun. I am actually enjoying my life.

They say that small small joys/ events, make life...I tend to agree now. Money is not everything (there's mastercard always!)

Topic Related: I have loans, I have some liabilities, I need to repay them. I want the economy recover, and soon.please: