Recession, economic downturn and how reality bites ! – Part 1

Today was more of an uncertain day for me. As there were discussions going on around for the project to be ceased and a new contract to be formed with the company for continuation of the same, under a different umbrella, but nothing was really coming out and it was really making people here in office bit nervous about the future in project. Call it economic downturn, credit crunch or recession, we were first time getting directly affected by that and so many things were happening that was making life rather uncomfortable around for everyone, with regards to the jobs assurances.

Some of the direct impacts that were seen were in the form of a few colleagues of mine who have been asked to leave the UK and go back to India to work there. Quite a few senior resources who have been in the UK for over 5/6 years also have been asked to go back and this was kind of shock to all of us. Probably reality bit somewhere, somehow of how bad the times are currently indeed !

We were a group of 10-15 good office colleagues and the group is now shrinking fast. Some colleagues are leaving this weekend, some at the end of the month and some will be off to India by mid of next month. Whilst, some have chosen to go back, some of them will be mandated to go back due to company requirement and cost savings to the company.

As per the mandate of the customer’s organization the ratio of offshore:onshore people strength was already 90:10 and today itself I had heard that that will further be pushed to 95-98% in favour of offshore working and with a nominal onshore presence for managing escalations. I am not sure if this will actually come as a new requirement and we will be required to implement that going further, but who knows, we doubted the previous 90:10 movement as well and well, it was a success.

Meanwhile, enjoy Dilbert’s latest strip on recession that probably explains my state of mind !

dilbert_recession

 

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