Nov 26, 2008

The economic wasteland?

I am less worried these days. The headlines are not screaming figures of pink slip issues in thousands. And, if the 'pink slip pandemonium' is not a front page story but is now occupying a 2x2 space somewhere inside, I am not complaining. For a person like me, who is working in a sector which is least likely to be affected by economic tsunamis, I can only imagine the plight of the employees who have been at the receiving end. I really do not understand the dynamics of 'systems & operations' & 'finance' of the corporate sector but I do wonder if sacking was/is the only solution.

My very very limited entrepreneurship sense says that a more moderate approach could have been adopted.Instead of laying off 2000 employees, perks of say 5000, employees could have been scrapped, threreby covering part of the loss & cost.One does wonder, if the employees who managed to save their necks , do not mind the extra work that has ended up on their laps.Even if they are complaining, they dare not be vocal about it.Maybe , there is a paragraph somewhere (in some page of a thick book on Corporate law& finance) about a lower scale being offered in exchange of retaining one's position in case of an economic crisis..I am just wondering.

With each one of us burdened with mortgages & instalments, I can only hope that our economic pundits come up, fast & quick, with some plans of economic salvation.

Who said life is difficult outside the Earth?!! It isn't easy here, either.

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