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.