The story of sacking employees in IT industry is not new. We have been coming across stories of people getting sacked for various reasons. But recently this has increased to such an extent that the future prospects of surviving is getting reduced day by day. Recently all the companies have started the trend of cost cutting and also due to the crisis of projects the sacking rate is continuing to rise.
Very recently IBM, TCS, etc. sacked a lot of employees. People are still looking for jobs after this incident when another big news came up with HP, Wipro and Satyam planning to sack employees on a large scale. The already poor condition of the job Market is going to deteriorate even further with these incidents.
This situation is further going out of control with companies like Lehman Brothers going bankrupt and others like AIG going at a huge loss. The markets all over the world are crashing and inflation everywhere on a high the future at this moment of time looks very scary.
Also these incidents are leading to mental trauma and tension. On one side you are under pressure to perform in your current job and on the other hand you are in tension of losing your job. Also in the current situation searching for a job has also become a headache. People are compromising at a higher rate. Working at lesser salaries than what they deserve, are afraid to switch jobs also.
What is next that is going to follow? No one has the answer to this question. What will be future of so many people still struggling and many more joining them. Also huge no. of people passing out from college each year are going through this situation. Has this industry reached its saturation level? Only time will tell.