Workers of Eastman Kodak Company in the US have been attending a job fair. Organised by Kodak, the fair is designed to find them alternative jobs. For, these people have either been given the pink slip already or are about to be axed.

They are long-time Kodak employees; some have served for more than 25 years with the company. But they are no longer needed or wanted. Go they must. Kodak, as a “caring” company, is doing its bit to get them placed.

Back in India, with the job market booming, nobody is thinking much about retrenchment these days. But, as Corporate India was belt-tightening a few years earlier, retrenchment was very much the order of the day. It was called the voluntary retirement scheme (VRS).

Don’t think that chapter is over. Tata Group company Voltas has just announced that most of its 820 workers at its loss-making Hyderabad unit have accepted VRS. UTI Bank is launching a VRS for its senior staff, reports a pink paper. (The management has denied it.) The Central Board of Direct Taxes has seen several senior officers ? including three commissioners ? opt for VRS. Several state governments have introduced such schemes. At Raymond, ITI, Indian Rayon, Coal India and half-a-hundred other places, the process continues.

“It’s still low key,” says Mumbai-based HR consultant D. Singh. “In the banking sector, the unions made a lot of noise and managements are being careful. But let me tell you that almost every company has retrenchment schemes ready. If more belt-tightening is required, they will be rolled out in a jiffy.”

But what’s the problem with retrenchment? You get a handsome lump sum and there is always the possibility of finding another well-paying job. “Retrenchment normally effects those in the 40s and 50s,” explains Singh.

“Never an easy proposition, finding a job after the age of 50 can be disheartening for some and overwhelming, even terrifying, for others,” says Betsy Cummings in her book How to Find a Job After 50.

The biggest problem is the loss of self-esteem. “In India, status is associated with a job,” says Singh. “I know of people who lost their jobs but kept on with their daily commute to pretend to their neighbours that they were still working.”

It’s different in the West. Yes, there is trauma. But people don’t see retrenchment as the end of the world. “The problem in India is that company managements are seen as father surrogates,” says Singh.

In the West, they even enjoy themselves while job hunting. A. Mukund and A. Neela Radhika of the ICFAI University, Hyderabad, have written a case study on the Pink Slip Party. “By late 2002, the concept of pink slip parties had become an integral part of HR. It was increasingly seen as a ‘new age’ recruitment avenue that not only helped companies get qualified employees easily, but also helped thousands of laid-off employees revive their careers and lives.”

Meanwhile, Kodak held its own version of the Pink Slip Party in Rochester on November 11. More than 2,000 Kodak employees landed up. Many were hopeful. But it wasn’t a Kodak Moment the company would like to preserve for posterity.

AFTER THE LAYOFF

What to do after being retrenched

Maintain a positive self-image.

Develop support systems.

Occupy free time constructively.

Learn to live on a reduced income.

Assess skills, needs and goals.

Look for a new job.

Evaluate entrepreneurial possibilities.

Source: Coping with Retrenchment, by Joubert