My Views on Hiring and Firing

I have been recently reading a mail chain on one of the yahoo groups I am subscribed to. The gist of the first mail was about the lay-offs done by some companies. Many members replied to the mail criticizing the contents and questioning the sender. People were of the opinion that the companies who have fired employees were correct because they have done it on the basis of performance and background check. No body was accepting that there can be other reasons also. This is what I have to say.
Hello Janata,
If you read the chain, most of the janata is talking about firing in case of under performance and back ground checks etc.
Guys, lets accept that there are companies who are cutting the cost by firing employees. The reason given can be anything. I am not going to buy the claim that the firing has happened solely based on under performance and back-ground check. If there were no finance crunches, they wouldn't have done it.
We all know that US has already entered into recession though its not official. Dollar value has significantly gone down. Service companies like TCS, Infosys, Wipro, who earn in Dollars and pay salaries in Rupees have already have their salary expenses increased by 20%. Also, most of the companies do salary revisions at the calender year end. How many companies have increased employees' salaries significantly? I haven't heard of any.
So, I agree with the gist of the mail written by Varsha(The author of the first mail), though, I do not agree with the specific data mentioned in the mail.
And guys, please understand, lay-offs are no more a surprise in India. With highly paying jobs it has already entered here.

Lets hope that the wave settles down quickly.