Friday, October 03, 2008

The smell of something burning

This article rubs its hands in glee as it takes a look at the slowdown. It is worth a read for the simple reason that it confuses cause, effect and everything else in between.

Until recently, in India's outsourcing hub it used to be one big Googlefest, with all the pampering and cosseting that employees enjoy at the company's Googleplex headquarters in Silicon Valley. I don't know what the latest from Googleplex is. But in Bangalore, it sure looks like the party is slowing down.

This is patently stupid. One, Indian outsourcing companies have, in general, been quite tight around the waists - for a long time. Slowdown or no slowdown, spending is way lower than a foreign company of the same size or lesser. Google is a different story altogether.

The first sign is in real estate. In a city where residential communities like Silver Manor, Golden Enclave and Platinum City sprouted to house thousands of young, upwardly mobile technology workers, instead of 200 million-rupee homes, developers are now beginning to market 2 million-rupee condominiums.

Again, there is a market for lower cost homes, tech slowdown or no tech slowdown. As with everything, real estate chaps are trying to go lower down the market. This is a much bigger marketing trend in itself.

For tech employees, jobs no longer come with a lifetime guarantee.

When did they, ever? Anyway, read on. Watch this for there will many like these, like there have been for atleast 8 years now.

1 comment:

ggop said...

About raises - that is a natural consequence of a maturing industry!
Doesn't surprise me at all. Am I missing something?