Just this morning around 30 employees from my company were made redundant for reasons that their skills were not in demand on the present economic climate.
This is now the second year in succession that my company have made people redundant. Last year's was acceptable but this year, in my personal opinion, was a little bit unacceptable.
Higher management said that there was a $2M loss last year, that was acceptable due to the global economic crisis. On the contrary, however, the Company President, said that there is about $1B liquid cash for the company. Why then the redundancy action?
On the part of those affected, I believe, this is a better time than last year as there are so many job opportunities now on the market contrary to last year. Job hunting this year probably will be a little bit better and easier.
This is one of the last bites of the global economic downturn. People may believe that it was already over but it is not. The after effects of the global crisis is still affecting peoples lives.