Background:

I finished my studies in 2001. I was selected during the campus interview at my college by a company. I joined the company and left after four months on account of non payment of salaries. I got an offer in two months and joined another company on a 30 percent lower pay scale. I was zero in IT so I didn't think about the salary.

I learnt my lessons and focused on learning new technology. After working for around two years, I decided to quit and got an offer from a multinational company. After that, I started changing jobs frequently as I gained good learning experience as well as big names and in the process got some very good pay hikes. I also managed to get a job in a foreign country in 2007.

How I lost my job:

Things started falling apart in mid-2008. I was told to leave without a notice. I came back to India but I had higher expectations about the salary. Already, there were signs of a coming recession. I tried to get a job in a big company but it did not work out due to various reasons. I was jobless for one month. This wasn't a blow for me as far as finances were concerned. I managed a good job in a start-up company as my skills were very good.

I thought the recession was over for me when after around four months in the job, I started sensing some financial trouble. But I could not do much as the job market was not good and I had recently joined the company. Then suddenly one day I got an e-mail stating my termination on account of the financial situation.

I kept my cool and told my wife about this. She was tense, but she had seen similar situations earlier.

I kept applying for a job. I got lots of calls, but companies were waiting and watching as their requirements were also not certain. They keep changing for them as well. One company went to the extent of calling me and asked questions to check if I was the same person who had given a personal interview when I had met them.

After about 2 to 3 months I got an offer from another multinational company. My salary is less by 10 percent. I also got a better salary offer from a small company but this time around I turned that down.

Liabilities:

I have two home loans for which I need to pay around Rs 40,000 per month. Certainly, I have very less liquidity. Had I not got a job I would have sold one of the houses. In these times of economic slowdown, I would certainly have not got a good deal for the house, but at least I would have been able to pay off the home loan.

Family support:

My family really supported me in my time of crisis. My parents, wife and brothers helped me with finances. Special thanks to my wife for saving some money in a fixed deposit.

Companies taking advantage...

Companies do take advantage of your situation and try to get good talented people for a lower salary.

Lessons learnt:

• Make a good portfolio as liquidity is important.
  
• Learn... Learn... Learn.
  
• Realise your potential and be positive. If you are talented, you will surely get a job.
  
• Never think that bad times won't come.
  
• Save some money for bad times.
  
• Have an offer ready when you know the situation is getting worse.
  
• Spend wisely; try to minimise your extra expenditure.

Illustration: Uttam Ghosh

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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