We asked Get Ahead readers to send their layoff tales and the mails keep pouring in. Tales of how employees across ranks and levels are being sacked as the dark shadow of recession grows longer and longer.
In the second part of this series, Prashant Dube reveals how he was sacked even after he took a 40% salary cut.
Name: Prashant Dube (name changed on request)
Educational qualification: BE (Computers)/PGDM(customer relationship management)
Work experience: 2 years, 6 months
I finished my engineering in computer engineering in May 2006 and got a post graduate diploma in CRM (customer relationship management) in 2008. I was selected during the campus interview at my college by a software company based in Pune which I didn't take. I joined another company in my hometown.
I worked in India for almost two years and got an opportunity to work abroad in an IT firm. I was happy for the first 4 to 5 months, but then came the recession. Companies began to fail. I saw the fall of Lehman Brothers and a few more big IT companies laying off their staff.
How I lost my job
I was pretty happy since things were good abroad. I could not only save a good amount, but also afford a good lifestyle.
During the start of the recession, my company initially told us it was doing fine financially so there was no need to worry. But after December 2008 we saw people getting sacked and the company had to cut costs in order to sustain itself.
In December my salary was reduced by 40 per cent. My boss told me the company would revise it in a few months when the situation became normal; I was a bit worried and had to cut my expenses, but could manage.
Despite taking a hefty pay cut, I was asked to leave in January.
The company sacked a majority of my team members.
I have no liabilities, but was planning to get married at the end of this year, which I feel needs to be delayed further. I have appeared for interviews, but companies are taking advantage of my situation and offering me a very less salary as compared to my current compensation and my abilities.
I haven't got many calls as most companies are not increasing headcount right now.
My family is really supporting me in this hour of crisis, and I am sure that I will have a job soon.
Companies taking advantage...
Companies do take advantage of your situation and try to get good talented people with lesser amounts. I was really shocked at an interview when a company, which is a market leader, offered me half my current salary.
Never think that bad times won't come
Save some money for bad times
Have an offer ready when you know the situation is getting worse
Spend wisely; try to minimise your extra expenditure
Always remember this: However good or bad a situation is, it will change
Realise your potential and be positive. If you are talented, you will surely get a job
Illustration: Dominic Xavier
Do you have a layoff tale to tell?
Have you lost your job? Do you know someone who has lost her/his job recently and is trying to come to terms with the situation?
If you, your friends or relatives have a layoff story to tell, to inform readers about the lessons that you have learnt, please write to us at email@example.com. Your name and identity will not be disclosed unless you want it to.