Its snip- snap time...the companies have got themselves Edward scissor hands- they are all aggressively cutting either jobs, man hours, pay or even businesses.
With the recent financial turmoil putting in a lot of insecurity into every average employed household- especially the BSFI[ Banking Financial and Insurance] sector and Tech sectors. We are not asking if there are appraisals happening- we rather ask each other if the other still has a job.
No wonder then that my friend who didn't contemplate further studies after 6 years of work ex decided to take the CAT this year.
Here are some of the shocking news that reflects the business scenario :
- The best and the craziest of all- Air India(AI) is not cutting jobs, but is offering leave without pay for 3-5 years.Oh! isn't that good? so considerate! Not removing the employees form the pay rolls, just not paying them for 3-5 years, asking them to go on a forced leave. Hats off to you Raghu Menon- CMD,AI.
- Tata Yazaki- manufacturer of wire harnesses for auto industry- says no electricity in its company after 06pm- OOps!.. Dark days ahead fo the employees- I am sure the management would fend this off saying- "its an eco friendly decision" [hmm...]
- The tops execs at ThyssenKrupp and Kirloskar no longer would travel by Business class, in fact, Kirloskars went a step further and shun the practice of using luxury cars like the Mercs for travel- The top brass may have to be content with an Indica!! Perhaps the Three wheelers and bicycles would be the next viable option.
- Citi's Vikram Pandit announced that the company would cut 52000 jobs across the globe to get a leaner look- However, speculation is rife that Pandit himself may not be able to hold on to the job for long.
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