As the dust around the TCS layoffs refuse to settle down, there are reports that another software company Altisource are firing its employees working in Electronic City Bengaluru. However there is no official statement from Altisource on this firing and the reason behind the same. FITE contacted an employee from Altisource and is been confirmed that atleast 300 employees are being fired from Bengaluru without prior notice. Sources also mentioned that the sacked employees are treated in inhumane and cruel way on the day of their layoffs.
The increasing job cuts in IT industry has created panic among the IT employees. Earlier companies like IBM, Dell, Cisco and more were layoff its people citing Organisational restructuring and under-performance. The frequency of job cuts are on increasing trend creating unrest among the IT community.
FITE Bengaluru Chapter share the concerns with sacked employees and are ready to legally support the Altisource employees.
5 Comments
satya January 28, 2015 at 6:00 pm
Even TechMahindra doing layoffs. TechM gave two months notice period and doing layoffs in the name of bottom performer list. I got this mail today. I am with TechM more than 10 years.How can I fight on this.
satya January 28, 2015 at 6:24 pm
Every IT company doing the same. Following bell curve and setting low rating for 10% of the associates. Removing bottom 10% and hiring freshers 25% that includes the growth of the year.
Job security is very low in this model. By chance you are on bench during appraisal process, you will get low rating to send you home. Top performer in one team could be lower than the low performer in other team. Since ratings are based on small groups. Out of 10 people one should go home with no job.
People working in low skilled areas are getting better ratings then the high skilled associates.
HR has no idea on skill all they want is bell curved list. Project managers are responsible to give the ratings and list matching with curve. They look for the guys who are not so friendly with manger will go out first.
The person who is measuring the performance has no idea what and how it should be measured. He always measures with personal relations in his mind. The entire appraisal process has flaws. Based on that if you make decisions of removing employees is not acceptable.
Kumaran January 28, 2015 at 6:29 pm
I also received letter from TechM stating my last date in the organization with two moths notice period. I have 3 years associating with TechM. Now I have no idea where to approach. Please some one help me on this…
somu July 19, 2015 at 7:33 pm
Folks,
layoff are going to be inevitable in IT sector. Fight should be against HR policies which prevent laid off people getting jobs if they have gaps in career.
If your cumulative gap is more than 12 months TCS wont hire u. Most companies discriminate against individuals who lost jobs. This is creating a bigger problem than actual layoff in the career of individuals as this mean layoff means end of career.
ramulsaon July 19, 2015 at 7:38 pm
syntel laid off 5000 people in march april 2015 to make itself attractive in takeover deal with genpact. Many people were given 3 months basic pay, however many senior people were tricked into submitting resignation in the system with request for immediate release and hence not paid even basic pay after being threatened with termination letter stating firing due to performance reasons.
In Syntel Chennai only non-tamils were targeted for layoff.