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Depression 2.0 Survival Guide — February, 2009 Edition

February 18th, 2009 · 3 Comments

In this Issue

  • State of Job Market from recruiter’s perspective
  • Laid-off Microsoft employees spoke up! — Results of GeekMBA360.com Layoff Satisfaction Survey
  • Job Search Strategies & Tips in a difficult economic environment
  • How to develop your career during recession and protect yourself
  • Feel depressed, confused, frustrated, and purposeless? — Inspirations and Tools!
  • Industry/company analysis
  • Maintain work/life balanced during a difficult time

State of Job Market from recruiter’s perspective

I recently talked to two recruiter friends. Both are seasoned recruiters who had worked in the industry for 15+ years. I’d like to share with you two quotes from them:

"The recession is killing me– everything that was on my plate is frozen.  Hopefully, I can find one or two people to give me a few jobs to work on."

"Times are tough right now for recruiters so I’m not counting on things changing for the next few months.

The companies that tend to be hiring are using job boards and their own sites more than anytime in the past as there are so many good people actually out of work."

Since we published the last issue of this newsletter in mid-December, 200+ companies had laid off more than 200,000 employees in the high tech industry alone.

The message is simple:

  • The economy is continuing to deteriorate. We haven’t seen signs of recovery. In December, when I published the first edition of Depression 2.0 Survival Guide, some readers told me that I shouldn’t be using the term “depression” since we’re only in a recession. I’m more than ever convinced that we’re in a economic depression, a major financial catastrophe that is the great depression of our generation.
  • Hold onto your job if you’re fortunate to be employed. You need to do all your can to layoff-proof you job, and continue to develop your career. See strategy and tips under "How to develop your career during recession and protect yourself".
  • If you’re laid off, you need to be very creative, proactive, and aggressive about job search process. See "Job Search Strategies & Tips in a difficult economic environment"

Laid-off Microsoft employees spoke up! — Results of GeekMBA360.com Layoff Satisfaction Survey

Layoff is painful. GeekMBA360.com launched Layoff Satisfaction Survey in January because we hoped that our survey would

  • keep employers more accountable for their actions, and treat employees fairly during this difficult economic time
  • provide an outlet for laid-off employees to tell the true stories behind layoffs and set the record straight
  • give folks some visibilities into what’s going on with layoffs in corporate America.

The results have been overwhelming as many laid-off workers from employers such as Microsoft, AT&T and Sun Microsystems spoke up.

It’s quite alarming that quite a few laid-off workers complained about job loss due to competition with H1B foreign workers. There were also complains about discrimination due to gender and race. We want to caution everyone not to jump to conclusion — it’s difficult time for everyone, and it’s easy to attribute layoffs to race, gender, and nationality. At the same time, we urge all employers to treat the laid-off workers with respect, fairness, and transparency.

Job Search Strategies & Tips in a difficult economic environment

How to develop career during recession and protect yourself?

Feel stuck, depressed, confused, frustrated, and purposeless? 

Industry/company analysis

Maintain work/life balanced during a difficult time

Tons of tips from previous edition

Comments?

Please email regularguy@GeekMBA360.com or post your comments at www.GeekMBA360.com .

About Depression 2.0 Survival Guide and GeekMBA360.com

Depression 2.0 Survival Guide for High Tech Professionals provides hard-hitting, up-to-date, practical strategies, analysis, and tips to help high tech professionals to survive and beat Depression 2.0 periodically. To subscribe to the Depression 2.0 Survival Guide and receive daily post update, please go to www.GeekMBA360.com to subscribe.

Founded in September, 2008, GeekMBA360.com provides hard-hitting and practical online content and services to help high tech professionals to Beat Recession, Grow Career, and Build Wealth.

To learn more about GeekMBA360.com, please visit the About Us section of GeekMBA360.com .

Tags: Beat Recession

3 responses so far ↓

  • 1 Jane // Feb 26, 2009 at 9:47 pm

    You are missing a category – Real Estate Concerns of the unemployed. I would love to write the article.

    I was laid off from my 6 figure job in NYC in Oct 09 and with my severance running out soon, and no job prospects in sight, I fired up ” Plan B” – get a real estate license. I am now a licenced real estate agent and am trained to handle short sales and other complicated real estate situations. Would love to share my knowledge and experience with your group in the spirit offering assistance only – no sales.

  • 2 Jane // Feb 27, 2009 at 2:47 am

    You are missing a category – Real Estate Concerns of the unemployed. I would love to write the article.

    I was laid off from my 6 figure job in NYC in Oct 09 and with my severance running out soon, and no job prospects in sight, I fired up ” Plan B” – get a real estate license. I am now a licenced real estate agent and am trained to handle short sales and other complicated real estate situations. Would love to share my knowledge and experience with your group in the spirit offering assistance only – no sales.

  • 3 Mold Removal Oceanside // Dec 17, 2010 at 8:02 am

    Thats an excellent idea will have a go at making one of these sometime….

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