Many Indian companies started laying off people in a low-profile way. No press releases and no media reports. These companies silently let people go. This trend will continue at least for another 6 months until U.S. stabilizes itself both politically and economically.
Hexaware eliminated 300 positions recently. TCS, IBM and similar companies let go many people citing poor performance. Companies can’t keep poor performers especially in poor economic environments. Situation in U.S. is deteriorating even more. Some companies convert full time positions to part-time positions.
The number of people, whom the U.S. government classifies as working part time involuntarily swelled to 5.3 million last month, a jump of greater than 1 million over the last year. These workers now amount to 3.7 percent of all those employed, up from 3 percent a year ago, and the highest level since 1995.
If you already have a good job, consider yourself lucky and do everything possible to keep that job! I personally feel that it is the right time to hire good candidates, but still it’s tough to find them.
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