ITEC Statement on recent layoff/terminations in IT industry

Horrific numbers in the news of terminations/layoffs in IT companies have not made our governments to react responsibly. Latest of the shocker is from IBM, which as claimed by an industry observer is planning to cut down it's employee strength by 26%, more than one lakh of its employees. Even the official response from IBM do agree thousands will be sacked and part of it will be felt in India. How did our governments react to terminations in TCS? Should not the government authorities take necessary steps to protect the interests of the employees? The employees who helped building the $100+ billion industry are now at the receiving end. They have turned 'useless' now. Or is it that they can be replaced by cheaper workforce now? Indiscriminate privatization of education sector and meaning less anti-people development have ensured cheaper and larger unemployed population. When the companies do still make largest of the profits, any first action to ensure more profit would be to sack their employees in nicely termed workforce optimization or restructuring. They do not show any scant respect to the laws of the nation. As a sector which enjoys huge financial benefits from the nation in the form of subsidies or incentives, central and state governments do have the responsibility to interrupt the terminations and protect the interests of IT employees. Subsidies/incentives and exemptions given to the IT companies should be in the interest of nation's citizens, rather than just to increase the profit of companies.

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