Often, we are hearing a frequent new about software down due to financial break down in US.
I got some information on recent happenings in software field.
HP Layoffs
HP 24000 Lay-offs - After acquiring EDS, HP is planning to reduce their work force and they planned to take out 24000+ employees from their company. It includes both higher level and lower level people.
Satyam 4500 Job cuts :
Due to lehman brothers closure, Satyam computers has just started giving pink slips to its employees, could potentially downsize its workforce by a whopping 4,500 employees. Recently, satyam head have informed their employees not to be panic and advising his people to work hard.
Wipro technologies started giving pink slips:
Wipro technologies has put about 4-5% of its workforce, about 2,400-3,000 employees, under the scanner for non-performance.
This is the cycle and everyone has to sustain this problem. If you see the past 10 years record of IT industry it got changed in 2-3 times majorly in 2003. Satyam and Wipro are service based companies if their client is going to the depth of loss then why they bare the loss it is obvious that they will fired the employees.
The recent IT Lay offs is mainly due US Market slowdowns. And as everyone of us knows that the market is never stable. Who knows that though it is down now, it may grow at a remarkable height.
This is once again the firing season for IT. Satyam Computers has just started giving pink slips to its employees and around 4,500 of its employees are scheduled to get the boot.
wipro firing
Wipro Technologies has put about 4-5% of its workforce or about 2,400-3,000 employees, under the scanner for non-performance.
tcs firing
In February, TCS had given pink slips to 500 non-performers.
IBM firing
IBM India also asked about 700 employees to leave, citing non-performance.
patani firing
In July, Patni computer systems fired 400 employees.
If the going is tough for these bigwigs, what about those in the lower rung? Mid tier companies are also doling out pink slips in all generosity! Hexaware has reportedly booted out 500 people and this does not include the 130 employees to be laid off due to the shut down of its office in Gurgaon. Ramco Systems laid off 142 employees.
Not true news on infy firing.
Reference:
http://www.alleyinsider.com/2008/9/hp-firing-24-600-employees-after-buying-eds-hpq-
http://hubpages.com/hub/Indian-IT-Companies-Infy-Wipro-Satyam-Cognizant-Accenture-IBM-Firing-News
http://topinews.com/story/title/wipro-firing-infyosys-firing-cts-firing--hp-firing--news
http://www.indyapulse.com/Blogs/View.asp?ArticleId=688&CatId=111
Kindly share your comments regarding this post.
Regards,
Venkatesan Prabu .J
This was unavoidable!
ReplyDeleteI have been now 14+ years in this industry, have gone through the .com bust even. What I can observe in my entire tenure, these entities which are laying off people, were intaking people in huge number anticipating that they will get new projects!
One new identity evolved as "Benchers"!
My question was why?
Are the non-benchers are doing really putting their full time in work?
Was the management plan such to utilize the full extent of workforce these entities already had?
I have been supervised many people, from fresher to experience. I can conclude now, people have a high expectation on pay packs, onsite visit, very fast growth, but, what about performance?
The moral of each and every individual who are in this industry, seems down, but, I ask them, have you every given 100% of yours? Be it from lower level to management level?
TO me, this was unavoidable, unrealistic number of hiring, faulty plans from personal level to instituation level has contributed towards this mess.
Thanks Venkat for sharing all the information related to Pink Slip..Can you advice on what should a person do in such a condition?
ReplyDeleteHi Neha,
ReplyDeleteThis issuance of Pink slip is not the one happening all of a sudden. People would have been given sufficient breathing time say a month or two. No IT companies ask you to stop coming office from the next day.. They too are professionals.
In such a situation we should equip ourself with the current market requirement. Always remember that a door will be open for us to enter. Keep yourself updated with the market demand and get a switch over at the right time to upgrade ur career in style
HI,
ReplyDeleteI too in IT industy from 4 + Yrs,it is the bad policy of companies and more expectation from individual.companies hired too many resources and keep them on bench,and now doing layoffs.companies from starting must keep good resource utilization ,instead of just hiring and firing.