Wipro Lay off: Wipro Fires 1000 employees
Wipro, the top Indian IT Giant, has decided to go for a massive Wipro lay off. As per the news that has come out, it seems that Wipro has fired around one thousand people citing non-performance. That constitutes around 4 to 5 % of the entire Wipro Workforce which have been put under the scanner for performance reviews. Is this the time for the Indian IT industry for consolidation?
While some would be given counselling to improve their performance, others would be asked to leave.
As per the news sources, Wipro’s corporate vice-president (human resources) Pratik Kumar confirmed the move. Asked how many employees had been asked to move on, he said the company did not disclose that number, but it was "significantly lower than 2,000". "I can’t comment on a particular number," Kumar said, when asked to comment.
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. "It’s a regular annual exercise. As the appraisal cycle gets over, a multi-layer review happens. Following that, people who have fallen in the lower quadrants of performance are put on watch. Some are asked to pull up and others are asked to move on," he said.
The review includes all the 60,000 global IT services employees from the senior leadership team down to the person with one-year experience.
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.
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.
While some would be given counselling to improve their performance, others would be asked to leave.
As per the news sources, Wipro’s corporate vice-president (human resources) Pratik Kumar confirmed the move. Asked how many employees had been asked to move on, he said the company did not disclose that number, but it was "significantly lower than 2,000". "I can’t comment on a particular number," Kumar said, when asked to comment.
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. "It’s a regular annual exercise. As the appraisal cycle gets over, a multi-layer review happens. Following that, people who have fallen in the lower quadrants of performance are put on watch. Some are asked to pull up and others are asked to move on," he said.
The review includes all the 60,000 global IT services employees from the senior leadership team down to the person with one-year experience.
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.
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.
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