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Business: Layoffs at IBM India
An uncofirmed report in ET: "Though IBM is silent on the actual number of ELTPs dismissed, the total is likely to be in excess of 700 across company locations nationally, including 180-odd in Kolkata alone."
8 comments | | category: Business | Content type: Text/Pictures | Add this link to... | tell a friend | bakwaas
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I have heard of 400 being laid off in TCS as well. Is this the beginning of the end?
TCS to fire 500 of its employees
http://www.ibnlive.com/news/tcs-sacks-500-employees-for-poor-performance/58174-7.html
thats shocking so this news is confirmed heehaw?
It is not confined to IT now... goes to the banking sector. Citigroup axed 400 employees from UK and would follow the same in other places like India. (as per ET,24 Jan 08 edn)
that sucks
my frnd being selected in a IT company waiting for the call fom 8 months , what s the use?
What can suck even more is getting selected in an IT company, working for six months and getting laid off. Your career is in the dumps then, I know several people with whom this happened.
It is a high risk, high returns theory.
Software industry pays high and the job risks are high. We must accept this harsh reality. Talking about ethics and all - Well it's all part and parcel of the professional corporate world.
The silver lining: IT industry is here to stay. This downturn is part of the cycle and the boom time will return. I still remember how the Silicon valley of India was lulled after the DotCom bust 2001-02.
I don't want to put the blame on any individual IT cos.
I dont agree with high risk high returns theory here. Unfortunately the employee who joins for the sake of salary is not taking a very high risk, he is behaving very conservatively by taking up a job. If you see the people getting fired right now are the ones with the lowest salary. This is just an unfortunate event with no employee to blame. However people should now be very careful in choosing IT as their career because entry into this industry will keep on getting tougher by the day since the real boom time is over now guys.