We asked Get Ahead readers to send their layoff tales and we are getting mails from employees belonging to different sectors of the Indian economy.
In the 33nd part of this series IT executive Palash Gupta* who switched careers from the hotel industry tells the story of how he was sacked.
Name: Palash Gupta (*name changed on request)
Company/Sector: Financial services
Work experience: 6 years
Background:
I had a good time working in this Fortune 500 company in the finance sector. After I completed the first two years in India's biggest private sector bank I thought of joining an MNC. I joined this company and right from the day of joining I had been performing well; I was always in the top performers' category and my superiors praised and appreciated my work a lot.
How I lost my job:
When the global meltdown began, the heat was obviously felt at home as well. Our company was not doing well and delinquencies were rising; we were slowly taking our steps towards a shutdown.
The team in which I was working considered itself safe because we were the most qualified and were told we will be shifted to some other business we all being chartered accountants. I thought they will kick those people first who have done their BE /MBA from second grade colleges.
Suddenly, one fine day in January 2009 the management decided to pull the plug and 75 per cent of team was asked to resign with two months notice.
How the layoff affected me
Initially I was shocked at the news and felt sad because work was going on well and, and on a personal level, I was learning a lot. After this development, it wasn't all gloom and doom, at least for me. Well, that was what I felt but sadly (or in fact I would say luckily at this point of time) I was proved terribly wrong.
I had worked in various domains, my performance was on the higher end of the scale and that's why I felt I would be indispensable at least in relative terms (ie there were better candidates for laying off). But management decisions are as unpredictable as the stock market.
The reason he stated sounded ridiculous -- at least to me. What he said was: "You have been an exceptional performer. Your ratings reflect that. But due to the uncertainity in the financial sector, you do not fit in any role as of now, so we have decided to..."
I was shocked, I knew for sure that the man was not making any sense. He agreed as much. I mean everybody knew I was a good performer (if not exceptional) and as far as visibility was concerned I had proved my potential.
Job hunt:
Initially I was rattled, lost my calm but got some interview calls immediately. I was very unlucky though, I landed in the weirdest company India has. Though the CTC was higher, I got a pay cut of Rs 1.5 lakh. All credit goes to bogus and nicely designed pay packages. But I could do nothing just waiting for my time to hit back.
Fortunately, the earlier company was decent enough to share the bonus with the laid off employees. So with some money in hand and a monthly package that had taken a severe hit, I could now pay my EMIs for sure.
Illustration: Uttam Ghosh
Do you have a layoff tale to tell?
Have you lost your job? Do you know someone who has lost her/his job recently and is trying to come to terms with the situation?
If you, your friends or relatives have a layoff story to tell, to inform readers about the lessons that you have learnt, please write to us at getahead@rediff.co.in. Your name and identity will not be disclosed unless you want it to.
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