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Poll Highlights Job Insecurity

Light Reading
News Analysis
Light Reading
2/22/2002

After so many company closures and workforce reductions in the optical networking industry in the past year it’s perhaps not surprising that a lot of people feel very insecure in their jobs.

All the same, it may come as quite a shock to see the results of Light Reading’s February Work Poll, which shows just how deep that insecurity goes. More than 300 people have already taken the poll, and this is how the results are shaping up:

  • More than half of respondents (53%) say the chance of them losing their jobs this year is evens or higher. That doesn’t include the 15% of respondents who have already lost their jobs.
  • More than three quarters of respondents (81%) say the chance of them finding an equivalent job within three months is evens or lower.
  • 41% of respondents say that large, established systems vendors offer the best job security right now. 26% say large, established service providers are the best. At the other end of the scale, startup service providers got the lowest rating (3%), followed by startup systems vendors (7%), and startup component vendors (9%).
  • Most respondents aren’t expecting an upturn in the job market any time soon. 38% think things will improve in 7 to 12 months and another 35% say it'll take one or two years.

    Take the poll yourself by clicking here. Once you’ve taken the poll, you’ll see the full results so far.

    — Peter Heywood, Founding Editor, Light Reading
    http://www.lightreading.com
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    fleshpeddler
    fleshpeddler
    12/5/2012 | 2:35:20 AM
    re: Poll Highlights Job Insecurity
    Almost 2 years later...was he right?


    Author: realdeal
    Number: 90
    Subject: Re: Equipe 3rd round
    Date: 3/4/2002 8:49:02 AM

    Stay_tuned: It was a bit of a generalization but please show me a wireless/Storage start up with a 50-80 mil valuation after 2nd or 3rd round. Don't forget- VC's are still funding new wireless and storgae plays so by nature the valuations will
    be higher.
    The_Holy_Grail
    The_Holy_Grail
    12/4/2012 | 10:54:01 PM
    re: Poll Highlights Job Insecurity
    You are right. There is an uptick in hiring. Nearly every major employment site has reported an increase in the number of jobs available. Companies which have dim pospects may fail anyways due to its employees leaving at the first opportunity.
    reidslayton
    reidslayton
    12/4/2012 | 10:54:01 PM
    re: Poll Highlights Job Insecurity
    This is exactly what everyone needs right now. Such a bleak picture to report on, I am only seeing a resurgence of confidence out there among VC's, Companies and Candidates. I am sure I will get slammed by the usual people who post messages but I really am seeing a tremendous uptick in hiring and confidence.
    Milano
    Milano
    12/4/2012 | 10:54:01 PM
    re: Poll Highlights Job Insecurity
    I guess reidslayton works for Afghanistan Telecom.

    M.
    Lord of the Light
    Lord of the Light
    12/4/2012 | 10:53:59 PM
    re: Poll Highlights Job Insecurity
    Just as the Nasdaq and the rest of the stock markets are going through a series of correction, the job market is also correcting itself after those high-flying days of over stacked cubicles. It just takes time to settle down the correction to compensate for the over zealous gains during the boom days. Time is what it takes to filter out the poor performers, those pesky employees, those slow folks...you get the picture. For you H.R. people out there, now is the chance to hire people who are still working, not the laid-off people. The ones still working should tell you something important...that they survived rounds of layoffs due to theirs skills. Of course, this is just a rule of thumb...special attention is always respected. This message is sensitive and always ugly to discuss with others. Therefore, just keep this to yourself for thoughts.
    sundevil
    sundevil
    12/4/2012 | 10:53:58 PM
    re: Poll Highlights Job Insecurity
    I know you didn't want to get in to this, but you posted your feelings and now I'm posting mine.

    >>The ones still working should tell you something important...that they survived rounds of layoffs due to theirs skills. Of course, this is just a rule of thumb...<<

    What a narrow minded, ridiculous statement. I am laid off right now and totally resent everything you just said. I am very good at what I do, and was very well respected in every job I've ever had. I took a chance on a startup and it didn't pay off. I'm not sorry I took the chance, but things didn't workout. None of this was my fault, and now I have to deal with this?

    What do you know about the people laid off? Are you one of the millions sitting at home now trying to find ANYTHING, forget just finding a comparable job. Don't lump any of us into ANY catagory. There are just as many slackers and undesirables that survived this as there are that didn't.

    I know you said to hold our feelings, but what you said was plain STUPID.
    horse of a different color
    horse of a different color
    12/4/2012 | 10:53:57 PM
    re: Poll Highlights Job Insecurity
    ...when you're on the inside looking out. Try the view from the outside. Not so pretty, is it? I have friends...qualified people with experience...that have been looking for over 8 months after being laid off with no luck and nothing in sight. I was lucky enough to get a job after being laid off (large system company that starts with a C) only to be laid off again (from an optical component startup). So I've seen it go from bad last April to the worst I have ever seen now.

    Sure, there are people out of work that should have never been in those positions in the first place. But I think that's a smaller percentage than you may realize.

    The problem here is that jobs will lag BEHIND the market recovery. Right now, the market is going (in my opinion) from contraction to stability. That means that companies will stop or at least slow down the lay-offs. As for the job market, it will be static for some time. Companies only hire for 2 reasons - attrition and growth. For now, we're in the attrition mode (dead man's shoes). Until people start buying again, in enough volume to justify growth, new req's won't open up.

    Bottom line: Time to change professions unless you have enough working captial to weather the storm. If you have a job, hold on to it with all your might - at least for a while. It's worse out here than you think.
    marete
    marete
    12/4/2012 | 10:53:57 PM
    re: Poll Highlights Job Insecurity

    I am sorry I respectively disagree with you here. Yes, it could be a correction, like the stock market and everything. BUT do you mean those massive layoffs at Boeng, Ford, Lucent, Nortel and a lot of other companies were targeted towards under-achievers? Come on, you must be kidding! What company do you work for? I am not sure which HR person or manager would believe your story that you "survived the layoffs because of your skills"...
    sonet49er
    sonet49er
    12/4/2012 | 10:53:55 PM
    re: Poll Highlights Job Insecurity
    "This message is sensitive and always ugly to discuss with others. Therefore, just keep this to yourself for thoughts." What color is the sky in your world?

    I am still employed at a company that has had a round of layoffs. Sadly there were not the poor performers to weed out like my previous 2 companies had so some very good engineer's were part of RIF.

    If your part of project is cut from requirements you become a candidate for layoff despite skills. If your company shut downs and just a few are kept on to help VC with fire sale than you are also a candidate.

    glb
    glb
    12/4/2012 | 10:53:52 PM
    re: Poll Highlights Job Insecurity
    "For you H.R. people out there, now is the chance to hire people who are still working, not the laid-off people. The ones still working should tell you something important...that they survived rounds of layoffs due to theirs skills."

    Not really... I have survived around two-dozen layoffs in my career, until this one. This time, though, I happened to be working in an area where the R&D was cut, for lack of orders. Other areas with orders were already filled with good people, too, so I, along with my unfortunate coworkers who were working the same project, were all laid off. It is not so much about skills as about the luck of where you happen to be that determines whether you get the axe or not. When everyone goes, so do the good with the few that you describe. With your narrow-minded attitude, perhaps you will have to learn this personally from getting laid off yourself. Ummm. Should be within 3-6 months, or less! Write back at that time!
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