Pink Slip Parties - A New Human Resource Buzzword

Pink slip parties derive their name from the 'pink slip' - a piece of paper given to employees, informing them that they have been permanently discharged from their jobs, and asking them to seek employment elsewhere. The use of pinkslips started in the US in 1915. As these discharge slips were written on pink colored paper, they came to be known as pink slips, and the name stuck. A 'Pink Slip Party' is essentially a party for bringing together discharged/laidoff employees and prospective employers. Pink slip parties are thus like networking events/career fairs. They act as forums that help in the quick establishment of new relationships between employees and employers, and help people find a new job or a new employee (as the case may be)...

While there were many supporters of pink slip parties, the concept also attracted a lot of criticism by late-2002. According to some attendees who failed to secure a job immediately, these parties were of no help. Analysts said that before the IT sector downturn, IT professionals were able to secure a new job in just two to six weeks, while after the downturn; the time had increased to three to four months. Hence it was not appropriate to say that pink slip parties did not work if they did not yield immediate employment opportunities...