Leading IT Companies have been opting for layoffs to bear the growth slowdown due to the series of developments after Donald Trump won US Presidential Polls. Already, Wipro and Cognizant have served pink slips to thousands of employees in the recent past. Now, India's 5th Largest IT Firm began weeding out employees citing poor performance.
Officially, Tech Mahindra took the call to layoff as many as 1,000 employees in this month. Though slow down of growth is the major reason, Representatives of the company defend the move saying it's a normal procedure followed to disown poor performers every year.
In the past 6 months, Countries such as US, Australia and UK have tightened Visa norms to address growing unemployment. This trend had a major impact on the revenues of Indian IT Companies.
Officially, Tech Mahindra took the call to layoff as many as 1,000 employees in this month. Though slow down of growth is the major reason, Representatives of the company defend the move saying it's a normal procedure followed to disown poor performers every year.
In the past 6 months, Countries such as US, Australia and UK have tightened Visa norms to address growing unemployment. This trend had a major impact on the revenues of Indian IT Companies.