JOIN USUneasy chill of the recession
Mainly the IT and ITES companies, whose prime business target is the USA, are suffering due to financial downturn. A significant decline is visible in India also in industrial production, employment and wholesale retail trade due to recession.
Financial analysts say that it is difficult to generate proper employment growth and give the economy a solid base in the wake of second recession. Some of the companies in Bangalore have removed unskilled workers and a pause has been put on hiring.
Many young professionals, who have just joined their job, are apprehensive about their career as they feel they, being new recruits, will be axed in case their company opts to downsize the workforce. Rajesh, an engineer says that he has been under pressure, both in his professional and personal life, for the last few months.
“It’s a bad time to start a professional career as most of the companies are not hiring freshers. Even though employed, I’ve no idea about the nature of my job or what I’m supposed to do. For the past few months, my colleagues and I have been asked to work an hour extra everyday as there has been no recruitment for the vacant posts. Extracurricular activities to rejuvenate the staff, like team outings and fun activities on Fridays, have been completely stopped. Obviously, office tension and pressure affects my personal life as well,” he says.
He adds that anxiety and uncertainty have increased in his colleagues also. Soujanya, a software engineer, has seen many of her friends being affected by recession.
“I am working in R&D division of a networking company, hence my work is intact. There is no threat to my job due to recession. But many of my friends are sitting jobless even after getting their offer letters,” she says.
“The companies, which hired freshers in mass recruitment, are now finding it difficult to employ them. The joining date has been postponed for my batchmates. Though some of my friends finished their training period, they didn’t get a chance to continue working. Some of the employees are jobless on their workstations,” explains Soujanya.
Sowmya C, a professional, says that the IT industry is more affected by recession than any other sector.
“I am working in a biotechnology company. As research activities keep on happening in this field, there is no dearth of work or funds. I hope there will not be any threat to my job and recession does not become severe in nature. I now of some companies which have made their employees work extra hours. Most of the passed out students from my college are still searching for jobs. If recession continues for long, unemployment will be a major problem in the country,” feels Sowmya.