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IT Firms opt for massive Layoffs! What's wrong?
By: Tupaki Desk | 9 May 2017 11:54 AM GMT
The slow down of growth & H-1B Visa restrictions has been prompting the leading Indian IT Companies to opt for layoffs on a large scale. Worst affected by this trend are Senior Software Professionals with experience of over 5 years. Even junior level employees are facing the heat now.
As per media reports, Some of the leading IT Giants were mulling to serve pink slips to nearly 7-10% of their employees citing poor performance. Though layoff is a normal procedure which happens on yearly basis, The percentage has gone up to nearly 10% this year from 0.5 to 1% in the previous years.
Cognizant is relieving thousands of Indian Employees this year only to hire more techies in US. Chennai & Hyderabad-based Employees had already approached Labour Commission against the massive layoffs. Employees accused the IT Firm of showing double standards in the compensation offered to employees who were sacked.
Most of the Cognizant Staff weren't able to receive at least the same pay package from any of the other companies. An Employee says: 'I was paid Rs 6 lakh per year in Cognizant. But, Not more than Rs 4 lakh per year was offered when I am trying to find another job'.
As per media reports, Some of the leading IT Giants were mulling to serve pink slips to nearly 7-10% of their employees citing poor performance. Though layoff is a normal procedure which happens on yearly basis, The percentage has gone up to nearly 10% this year from 0.5 to 1% in the previous years.
Cognizant is relieving thousands of Indian Employees this year only to hire more techies in US. Chennai & Hyderabad-based Employees had already approached Labour Commission against the massive layoffs. Employees accused the IT Firm of showing double standards in the compensation offered to employees who were sacked.
Most of the Cognizant Staff weren't able to receive at least the same pay package from any of the other companies. An Employee says: 'I was paid Rs 6 lakh per year in Cognizant. But, Not more than Rs 4 lakh per year was offered when I am trying to find another job'.
