Is my job secure? That is the question haunting most middle and senior level executives working in Indian and multinational companies. The repercussions of the downturn in the US coupled with slowdown of the Indian economy, has hit corporate India pretty hard.
Recent reports suggest that several companies in India are cutting down their workforce. Reliance Industries Ltd, Bombay Dyeing, General Motors and AV Birla Group of companies are among those giving pink slips to their employees.
Business Standard spoke to a few established human resource professionals to find out what steps should the companies take while handing over the pink slips.
Smita Anand, head, Organisation Change Strategy at PricewaterHouse Coopers says that it is as much a nightmare for the HR team to ask an employee to resign as much as it is for the employee.