What lies ahead in year 2009

In the year just gone i.e. 2008 we saw some unprecedented economic situations. I can clearly say that I have never seen anything like that but then I’m too young to say that anyway -:))

Talking to more experienced people in the industry I came to the conclusion that this recession indeed one of the worst one.

It's a very tough economic climate out there and there an every chance that no one will be reprieved by its effect. What I men by that and even if you haven't been touched by the downturn thus far, you will be. There is an argument that IT or technology shop has some advantage over other departments which makes sense as well as I can rarely think of a business these days which doesn’t use telecoms these days. Nevertheless, it would be unthinkable not to be wearing your flak jacket at all times.

Jos losses have started to happen in telecoms now with the likes of Motorola, Nortel already involved in this procedure. More than 50,000 tech workers lost their jobs before the financial meltdown hit, and more jobs may soon be axed.

Everyday we see ourselves into more gloom and doom with more bad news coming our way. Even India is getting affected by this and especially after what happened Satyam. The Satyam scandal had shocked India specially the IT world. This has definitely not helped to boost up the confidence with some of the IT companies shares plunging. The Satyam scandal what many has labeled as India’s Enron has put a big doubt into investor’s mind which is a very serious concern.
In way this scandal has done woken up many and will do some good in the future. Telecom companies are working feverishly to get their balance sheet right and hence already started taking drastic measures. I view it like this where everybody is anticipating a tsunami and to save themselves from high waves they are already moving onto high grounds.

I myself is involved in the situation where the salaries of the staff are frozen for at least one year. I believe any measure taken now although painful is a right thing to do. So when tsunami comes the high waves may not do the much damage and if doesn’t then it’s even better.
Companies are in the mindset of not spending in the coming months and plans to invest only in what it call key projects but with an increase of only 1 or 2 percent in the next 12 months.
LTE is considered as one of the key area of development but at the same time provide immense dilemma as well. Companies are no doubts thinking of concentrating on the current projects which guarantee a source of revenue but then want to spend in LTE product as well so that they are not behind when the good times begin.

People with high skills especially in wireless and VoIP may have got good chances of just clinging on to their jobs.

Remember everybody would need the skilled people when good times come back so it’s in companies interest to freeze the salaries instead of making make people redundant.

It's important, above all, to keep your skills at top form and be flexible with an employer going through tough times.

In the end I will mention the line from Judi’s blog which is
“Remember, don't panic. The trains cannot run without you”