Cost Cutting
Seems like party for the IT software companies are over now.They won't be getting the same kind of growth of 40-60% as they were getting sometime back. Different companies are adopting different strategy to cope up with this situation. Some companies are on hiring freeze mode, some are on firing mode, some are in cost cutting while some are in salary cut mode. Or to say in simple terms most of them seems to be planning for short term or are just in survival mode. But is industry really low? Well, if you ask me, answer is both yes and no. Let us look to some specific industries, say Telecom. The sales of mid- & low-tier phones may be down as compared to last year, but it is being projected that smart phones will show a huge growth, projected around +50%. Now, smart phones category is a totally new segment and with the price of smart phones being on the higher end means that it will bring more revenue. So even if the number of units sold will be less, the revenue will be more. Same for auto-industry, though sales of more generic petro-automobiles are on downtrend, but consumers are now looking more inclined towards automobile which runs on Bio-diesel / Electricity / LPG... So for me no industry is down we just need to look for opportunities.
Whatever I might say or think but I fall on the side of being affected by one of the survival modes adapted by my company. AHhhhh ......no.....but yeah....there has been a salary cut of 10% through out my organisation .....& if you are in bench your cut will be 40%.........Thank God I didn't take any loans so don't have to pay any EMI's....But when I think of some person who might have taken a loan and has some EMI's to pay ...how will they cope up with it.....
With bloodbath all in the market...it seems right time to upgrade my skill - may be for an MBA....
Lets see ...Hope for the best
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