Situation No. 1: Lack of competence in the employee: Every individual is fully aware of his own strengths & weaknesses more than anyone else. A poor performer with lack of professional competence in his designated areas of operation will not have many regrets in getting a Pink Slip.

Situation No. 2: Operation against company objectives: No company will ever tolerate an employee functioning against its corporate objectives. This may include espionage, indulgence in corrupt practices, leaking of company secrets / confidential data and in-discipline etc. Such an employee knows very well of getting a pink slip immediately on getting exposed and thus have no reasons to regret in getting a Pink Slip.

Situation No. 3: Company is sinking financially: If the company is sinking, may be due to any reason & is unable to foot the bill of the employees. In such events the companies try every means to cut down the expenses by curtailing its manpower, cutting down the company overheads & many other expenses, without having major impact on its operations.

If someone can suggest a reason other than the three described above, please share with me for inclusion in this article.

Due to continuous decline of economy all across the globe, there is hardly anyone, whether an individual or corporate, that are passing through nervous moments for last couple of months. Thus the present situation is more appropriate with situation No. 3 described above

Financial sector is shaken badly due to steep fall in disposable income and liquidity crunch, stock markets are tumbling, sales all over are declining causing great uncertainty everywhere. Every company, whether big or small, is unable to bear the financial crunch & planning to cut down the costs by downsizing the manpower to the barest minimum. Consumers are also not left behind in this race and are cutting down expenses on essential commodities even the food products. Manufacturing companies are also cutting down their expenses in every corner.

Who are the people most affected by the present Global Crisis?

Serving class of people is the worst affected and is forced to live in an environment brimming with fear of losing the job. Even the supposedly safer High -Technology areas like IT sector, which had been on its blasting boom till a couple of years ago, is now passing through rough weathers & great turbulence. No one is certain as to when such situation will come to an end.

In industry, low performing staffs are found to be most vulnerable to layoffs. After laying-off the low performers, companies tend to cut down the costs across the areas not directly affecting the operations of the company, such as HR, Marketing, Publicity, Communications etc.

Remember that in most of the layoffs (especially in the IT Sector), aimed at reducing the head count; long experience & corresponding high salary is likely to make you a vulnerable target for pink slipping.

Where do you stand among the present moments of crisis?

If you are one among a band of such IT guys, who either has already got the pink slip or got a hint from the HR personnel of the company; there is no reason to get panicky or getting depressed & staying under the constant apprehension of getting a pink slip anytime. Remember that tough time comes to test our mettle & never stays forever, thus there is no reason to lose hope.

If you happen to be in IT sector, you can adopt several means of being gainfully employed even after getting a pink slip, and easing out your tension and migrate to plenty of new opportunities waiting for you.