Thursday, October 30, 2008

IBS experience Layoff ?

IBS experience Layoff ?
30 OCTOBER 2008

It seems the Global recession is affecting technopark, many companies in technopark started layoff and here is the latest report.
Its reported that, one of the most reputed software companies in Technopark IBS software started layoff. it started in last week and till now they gave pink slip to a dozen of employees and it continued even yesterday. one of the terminated employees told that the company called them personally and communicated about the layoff, and they will be given 2 months of salary as compensation.
But the interesting thing is, IBS is a very successful software company and they are having a bunch of revenue generating products and no reason for getting affected by the new economical slow down in USA or the affected financial domains. their clientèle is spread across the globe in aviation industry. no such industry is facing any crisis. So it seems that the company is taking the advantage of situation to eliminate a few.
for the past two weeks they terminated a dozen of people, and its heard that they have a plan to cut down 150-200 software professionals this time.
Incidents are reported like, a female employee was terminated within hours, and they didn't even follow any formalities which should be followed by a company as such. they called that girl and tell her to leave the office because she is terminated, they disabled the access to the company and they removed her name from the corporate mailing list within hours. This is not good for a well reputed company like IBS. and still the reason is not known, for why they did so.
It is a fact that the global economical crisis and the slow down in US will seriously affect the software companies in India, and thus in technopark. but a few companies are taking the advantage of this situation to fire people with out any reasons. IBS has a very good track record, and they didn't terminate a single employee at the time of 2001-2002 recession. even though the financial status of the company was much worse than today. It says that Mr. Mathews was leading the company then, and he was one of the best leaders and that was his decision to keep up all the employees. But now the decisions are taken by someone else, and this is their decision to cut down the people in the name of recession.

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