1. If you read my post of 15 Sep 08 on this very blog, you should not be surprised seeing the things happening the way I predicted and in a short span of 7 days only.
2. Killing of Mr Chowdhary and injuring several other senior managers of Graziano Co. in Noida, India on 22 Sep 08, by the employees who were laid off about 2 months back, are the signs of social unrest that we are going to face in this situation? Couple of enterpreneurs have commited suisides in NCR region because of these very reasons of economic downturn.
3. Writing is clear on the wall. Now the question is that if we can forsee the events with fair amount of certainty, why are we not initiating the corrective measures in time?
4. I expect few suggestions from my learned readers because it is our problem as a soceity and nobody can be immune from the grave implications if the frustration bursts out the way it did in Noida. We have to face it point blank and face it now.
5. One of the way I can suggest to the Industry is, to reduce the salary across the board as cost cutting to prevent layoffs. Under-performers may face more cuts but at least will get the money to feed his dependents. This will keep the criminal outburst in check for the time being till either the situation improves in that specific Co. or other avenues where the employees laid off may find employment.
6. I am available to discuss other options also with anyone who is interested. I also sincerely invite the suggestions on this problem which is worldwide and not limited to India alone.
25 Sep 2008