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Hyderabad: IT companies begin to lay off staff to stay afloat
Downsizing gets off the ground; techies getting termination messages
Hyderabad: In a ripple effect of COVID-19 crisis destabilising IT companies in USA, Canada and Europe, on which depends a huge chunk of Indian IT sector, IT companies in city have started pruning their staff in a bid to stay afloat. Layoffs and terminations especially of those on the bench are causing panic among techies.
"I am working in a renowned healthcare company as a senior manager and I have been on my probation for six months. However, the company kept further extension in probation period on hold," said the Subrato (name changed), who was later asked to put down his papers.
Similar is the case of Priya, name changed, who was relieved by the company for not accepting 30% pay cut. She received a message from HR that "since you are not ready to take a 30% pay cut, we are relieving you and as per the offer letter we will pay the notice period effective from 1st April." A mother of an infant baby, she is jolted by the out of the blue termination.
A few days ago, services of three employees of a famous MNC involved in developing computers and software were terminated with different reasons.
The city of Hyderabad hosts around hundreds of IT companies, a majority of them are located in Madhapur and Hi-Tec City. These companies provide employment directly or indirectly to around 5 lakh people from TS and other states.
"We are receiving complaints about pay cuts, terminations of bench employees, termination of those questioning pay cuts from smaller companies. Similar complaints are pouring in about not extending the joining date in larger companies even as the recruited has already resigned from previous company, after receiving the offer letter," informed C Vinod Kumar, State Convenor of Forum for IT Employees (FITE).
