Economic slowdown is viewed differently by different companies. This has compelled many of them to cut costs and restructure their organization. Some have even taken further steps to adjust and reduce their manpower in order to sustain future odds. A few are doing their usual job and have no concern with the present downturn, while some are displaying contrarian views and hiring superior talents from all round so as to gain competitive advantage in future. This article examines all the strategic actions taken by companies and discusses the justifications for these.

Global meltdown, followed by job losses in developed and developing countries have made some companies a bit nervous and confused. Many of these corporates want to know what actions would be appropriate to counter the present recession and sustain future growth. Participating in the discussion on `Winning a Downturn' organized by Economic Times (ET) news channel NOW, best minds of India Inc. set the idea not just to present opinions or views, but to check the reality of Indian and global economy by demystifying the doctrine of slowdown. For Dilip Shanghvi, Chairman and Managing Director of Sun Pharma, slowdown did not seem to ring a bell for him. His company has been registering impressive growth numbers and margins have been on the upswing. If the historic margin were around 30%, this year it has been as high as 45%. When Shanghvi was asked how was the business? He described the situation as `life as usual'. In the same conclave, commenting on the current downturn – an unprecedented one, B K Goenka, Chairman and Managing Director of Welspun Group said, "What is needed is a winning mindset, a clear-cut strategy and how to execute it. There would be a lot of opportunities in the future and that is why we are not firing people, we are hiring talent."

Hindustan Unilever (HUL) will move a higher portion of its employee salaries into variable category making the compensation linked to performance. Nitin Paranjpe, MD and CEO of HUL told ET "We see 2009 as a year of uncertainty. We are also gearing up our internal processes to manage things dynamically to deliver competitive, profitable growth, even if the worst case scenario were to materialize. The idea is to remain flexible and not get committed too early, especially with costs.

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