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In February, information technology giants Tata Consultancy Services (TCS), IBM, and portal Yahoo flashed pink slips to hundreds of employees on the basis of “poor” performance.
Others such as Patni Computers followed suit. Banks, financial services and insurance firms, or the so-called BFSI players, have been discretely deleting non-performers.
Surabhi Mathur Gandhi, general manager, permanent staffing at HR firm TeamLease Services, says some companies have shipped out as much as 8-10% of their staff on the basis of sub-par performance in the last couple of months.
Companies in the IT and BFSI space, which recruit 6,000-25,000 people every year, are ‘rationalising’ workforce.
However, the real reason, say HR experts, is cost-cutting aimed at tiding over business slowdown.
Discuss Add this link to... Bury
Others such as Patni Computers followed suit. Banks, financial services and insurance firms, or the so-called BFSI players, have been discretely deleting non-performers.
Surabhi Mathur Gandhi, general manager, permanent staffing at HR firm TeamLease Services, says some companies have shipped out as much as 8-10% of their staff on the basis of sub-par performance in the last couple of months.
Companies in the IT and BFSI space, which recruit 6,000-25,000 people every year, are ‘rationalising’ workforce.
However, the real reason, say HR experts, is cost-cutting aimed at tiding over business slowdown.
Discuss Add this link to... Bury
GyanIn is an India Centric Peer Production News Service. [Gyan = 'Knowledge' in Hindi].
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Covering Indian News, Entertainment, Bollywood, Videos, Music, Games, Cricket, Business, Technology etc. Browse, share and promote news centered around India that is important to you.
You can submit interesting links. Vote for other links in "Upcoming News" section. And you eventually decide what should be on the homepage of GyanIn.
Covering Indian News, Entertainment, Bollywood, Videos, Music, Games, Cricket, Business, Technology etc. Browse, share and promote news centered around India that is important to you.
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