"There would be 50,000 job losses in both IT and BPO over the next six months, said UNITES India General Secretary Karthik Shekar. This year, medium sized companies were the first to sack its employees.
During Sept to Dec alone around 10,000 jobs were lost, he added. Now its the term of large companies who will have cut down its employees. UNITES India is an affiliated to the global union United Network International has suggested the companies in trouble to cut down the salary and incentives rather than axing its employees. Karthik Shekar was of the opinion that employees can take the incentive other cuts for a year or so. Later their benefits should be restored.
"Bottom 5 per cent performers' were squeezed from jobs during September to December. The prominent reasons cited for acceleration in issue of pink slips are continued slowdown, like tax application to companies outsourcing jobs under the new US regime and tightening procedures with regard to H1B visas.
OneIndia News (With inputs from Agencies)