Wipro asking employees to resign or face wrath

The world is coming out of recession and the quarter-to-quarter results of Wipro shows robust performance, likewise their stock prices zoom. But they didn’t disclose that the so called huge profit is also because of mass layoffs. Every quarter hundreds of employees are forced to resign, thousands are pushed to Enrichment (half-salary) programs and rejuvenation (just basic salary, 1/4^th salary) program in the name of cost cutting. These programs are a round about way to layoff. When the employees need the employer most, the employer is shying off in-spite of the huge cash it is sitting on. This story i guess is true for many IT companies. The one thing that disturbs me most is where the media is, both print and electronic media didn’t cover these stories as they should have? Why are they silent? I see a nexus between the media and these companies. The Government gives so much tax exemptions (SEZ, STPI,etc) to these companies but when it comes to accountability, there is none. UNITES is the only organization that stands by us, to speak on our behalf. I suggest people should join it for the betterment of all IT/ITES employees.

Many of my colleagues said we need to understand that these companies are going American way, reduce headcount to be competitive and control cost . But why they don’t immitate Americans when it comes to headcount reduction. Why they shy away from using layoff, instead of forcing employees to resign citing bad performance as the reason. The humiliation people are going through naturally take toll on their mental and physical heath. I only hope that the market improves and people get jobs.