Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable. That constitutes around 9% of the entire Satyam Workforce which have been put under the scanner for performance reviews. Is this the time for the Indian IT industry for consolidation?"This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said.
On Friday, all employees received an e-mail from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action.
While some would be given counselling to improve their performance, others would be asked to leave.
As per the news, around 400 employees from various Satyam offices across the country were fired from the job citing reasons for non-performance. Sources also indicated that after getting the message many among the 3,000 have also started leaving jobs. But an estimate of the employees who have left is not known.
Seems like every company has got a reason in the name of "Regular Exercise" or "Based on Annual Performance Review". The fact remains the same that all these things are being done primarily for cost cutting. With severe dependency on US markets, which are seeing a big problem, the Indian IT secotr has been worst hit.
Recently, TCS created a big uproar by deducting the salary of employees or going for a salary cut. In India, it was TCS which went for a TCS layoff following TCS salary cuts. Then it was IBM which axed 700 jobs across all over India.
Latest: Satyam Salary Freeze Rumors after Raju admits fraud
In February, Tata Consultancy Services (TCS), the country’s largest IT services firm, had given pink slips to 500 non-performers. IBM, too, had asked about 700 employees in India to leave, citing non-performance. In July, Patni Computer Systems had shown the door to 400 employees. While IT companies said the move was not linked to the slowdown in the US, a key market for IT services, there was a consensus that it was time for belt-tightening.
2 comments:
People always hate to talk about when they are laid off. But as it has become every day's news headline since Yahoo started it with cutting 1500 of its task force last year, now a need of platform has been in demand where people can express their selves in words how they are feeling about their company, whey the got laid off was that justified or not.
And every thing they want to tell anonymously.And www.layoffgossip.com is providing you that platform.
I have a very close friend, who graduated from Harvard. Worked for ML for over 8 years, recently he’s been “right sized” too, despite of his outstanding performance and the increasing revenue he generated. OMG, now the banking industry is badly hurt, how long it would take for those financial background guys like him get back to the job market. Banking jobs are not there as much as before as easily seen on http://www.joboutlets.com and other job sites in the region
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