Pink Slip Parties - A New Human Resource Buzzword

It was a late Wednesday evening in April, 2002. Hundreds of people crowded before the 'Hush' restaurant in New York. Their cars jammed the entire street and spilled over onto the adjacent lanes as well. These people had gathered for a party that was scheduled to begin at 7.00 pm. At seven sharp, the people were allowed into the restaurant and the party began. Like all other parties, this one had food, music and drinks. However, there was something unusual about this party. All the attendees wore glow-in-the-dark bands on their wrists in red, green and yellow colors. And despite the fact that many people seemed to be relaxing, tapping their feet to the music (and a few dancing), there was a strong undercurrent of gloom.

For the uninitiated, a party that wound up so early, and at which no particular announcements were made, would perhaps seem rather strange. However, for many people (especially those in the information technology sector) who had lost their jobs in the wake of the slowdown in global economy, such parties were a blessing in disguise.

Popularly known as 'pink slip parties,' these parties were becoming popular in many parts of the world during the 21st century. Personnel from the human resources (HR) departments of many companies, especially those in the information technology (IT) sector, were amongst the most frequent visitors to such parties.