Termination Problem - the company didn't have much work - Can I fight with management or leave the job?

Hi, I am working in the BPO industry,I have joined here on 20 mar 2007, and i am facing a termination/lay-off problem.
I am a confirm employee, Actually, the company didn't have much work, and our Team manager told him to find a new job,
Anyone can give me suggestions what can i do? Can I fight with management or leave the job?
Actually I was still on the bench.

Hi,
If company has decided for retrenchment or lay off then its of no use to fight with the management as the provisions are provided in the laws for Retrenchment and Lay off but ofcourse you do have the right to ask for the Lay Off pay or Retrenchment compensation. First it is not clear whether it is lay off or retrenchment. Lay off is temporarily denial of job while retrenchment is permanent denial of job. If it is lay off ask for the monthly layoff compensation which is 15 days salary every month and if it is retrenchment do ask for the Retrenchment compensation which is 15 days salary for each completed year of service or any part thereof in excess of six months. But if your company is going for retrenchment please remember the rule of LAST COME FIRST GO. Means first those employees will be retrenched who came last. So if there are employees who joined after your joining should be retrenched first.
Amit Goyal

Thanx Amit,
Actually, Amit I am a confirm employee and i have not made a single mistake in organisation.
U really correct this is retreachment and i am last employee to joined the organisation.
I am really unhappy i had leave my last organisation. When i have received the notice mail that time definately i have put a mail to our Chairman.
Thanx Once again
Regards
yogesh