Workplace tremors

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We are now experiencing the aftermaths' of the US financial meltdown and BPO companies are not spared by this problem. One sad experience is the place where I work. We are catering and supporting outsourced services like copy writing, data entry, web designing, phone support, and programming from clients in the US, UK and Europe. End of last year, many of our clients are slowly canceling their accounts. I had a premonition of this, that some thing's gonna happen and indeed it really is. Many of our newly hired employees are the victims of this sudden announcement. Up to now, we are still in the grip of confusion and sadness of our security and future of our jobs .There were no solid reasons, there were no evaluations aside from the fact that they were newly hired. Their clients left them and the company could not sustain to the overhead costs plus the salaries of the orphaned employees. Based from my source, they'll only be getting their one month last pay and an additional separation fees, is still something to be argued with. Is the management doing the humane way? Are my friends still has the right to calculate and demand for a higher separation fee if they could have employed to another company and might have the chance to enjoy the benefits but were deprived of them because they thought that they were in a stable company.