ITEC raises its concern at reports of mass layoffs in Cognizant, Wipro and other IT companies. This comes on the back of USA, UK, Australia and Singapore tightening visa norms for Indian IT professionals. Many of the affected employees are subjected to illegal forced resignations and are not given their proper severance pay.
Bengaluru city has been undergoing tremendous changes in the last two decades. Bangaloreans have witnessed the IT boom which eventually changed the economics of the real estate and housing sector of the city. With the changing economics and cosmopolitan nature of the city, new models of transportation, entertainment, food habits and accommodation were experimented. Thousands of IT professionals flocked into the city in search of better job prospects. It was then the business of hostel accommodation flourished in the city.
When our country turns to a festival season from the month of August, news from various companies like Infosys, Cisco, Ola, Flipkart etc are erasing smile of many of its employees and their family members. By the end of July and initial weeks of August these companies posted positive figures for the quarter result, unfortunately the lay off news also came along with the results, which are not justifiable. As per available reports Infosys is in the process of issuing warning letters for its employees. Stories from other mentioned companies are not different.
IT is considered as one of the attractive professions in terms of pay and work culture. But little is known about the fact of mental agony an IT employee goes through in his everyday life. On an average, an employee spends more than 12-13 hours per day in office or providing support from home. Spending a conventional 8 hour time in job might not satisfy never ending profit motive of top management.
Students from various colleges of South India protested in front of L&T Infotech, a group company of Larsen & Toubro Ltd (L&T), in Whitefield with the demand of getting their job back.