Bangalore, Mar 17: Advocating strongly on job cuts during recession, Karnataka's former Information Technology Secretary, Vivek Kulkarni said on Tuesday, Mar 17, "When there is no business, companies have to react; otherwise nobody will survive. Either you have to reduce everybody's salary, or you have to let some people go and move on with that."
Kulkarni who is currently the Chairman and CEO of knowledge process outsourcing firm Brickwork India said that ti is quite natural for IT Companies to resent to layoffs. He said companies, which have lost big accounts and are operating from huge facilities after signing multi-year lease contract, are reducing and rationalising staff.
He said that the year 2009 will be challenging for freshers of IT. He also said that hiring would restart in the first quarter of financial year 2010-2011.