The UST Global on Nila campus in Technopark is planning to sack between 1,000 and 1,300 employees, it is learnt. Apart from freshers, IT engineers with more than 7-8 years’ experience have been forced to resign by the HR department. Those challenging the action have been slapped with termination letters. But UST Global’s country head Alexander Varghese denied this and said that there had been no massive layoffs.
The employees who have been asked to resign are working on ‘bench’ where they are given training and are waiting to get into a project. According to an IT source, they are on pay scales between Rs 25, 000 and Rs 36, 000 with less than one year to over 7-8-years experience. An employee said he was called to the HR manager’s cabin, asked to log on to his employee portal and forced to resign.
“So far 700 techies have gone out and they are aiming between 1,000 and 1,300. The techies who are on the ‘bench’ don’t sit idle. They will be asked to work on various projects on Java, NET Frameworks, PHP and so on. The UST Global which has thousands of employees has created end-grading – Outstanding (O), Excellent (E), Strong Contribution (S) and Needs Improvement (N),” a former employee told DC.
Another techie who has been asked to put in his papers said he had got no increment and last year’s variable pay as well.
“They are trying to defend their moves by suddenly citing that you have got ‘N’ grade when all these years I had ‘O’ record. Most of us are like a ‘time bomb’ which is about to explode because when you come to the office tomorrow, your seat would not be there. Even freshers are under stress as they have been denied an opportunity to perform well,” an IT engineer with over seven years’ experience said.
However, Mr. Varghese told DC that there have been no massive layoffs in UST Global since the last three to four years.
“People who have left the company have either left voluntarily or joined other IT companies”, said Mr. Varghese.
Courtesy : http://www.deccanchronicle.com
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http://www.deccanchronicle.com/140704/nation-current-affairs/article/ust-global-gives-axe-700-staff-technopark
UST Global gives axe to 700 staff at Technopark - Deccan Chronicle
The UST Global on Nila campus in Technopark is planning to sack between 1,000 and 1,300 employees, it is learnt. Apart from freshers, IT engineers with more than 7-8 years’ experience have been forced to resign by the HR department. Those challenging the action have been slapped with termination letters. But UST Global’s country head Alexander Varghese denied this and said that there had been no massive layoffs.
The employees who have been asked to resign are working on ‘bench’ where they are given training and are waiting to get into a project. According to an IT source, they are on pay scales between Rs 25, 000 and Rs 36, 000 with less than one year to over 7-8-years experience. An employee said he was called to the HR manager’s cabin, asked to log on to his employee portal and forced to resign.
“So far 700 techies have gone out and they are aiming between 1,000 and 1,300. The techies who are on the ‘bench’ don’t sit idle. They will be asked to work on various projects on Java, NET Frameworks, PHP and so on. The UST Global which has thousands of employees has created end-grading – Outstanding (O), Excellent (E), Strong Contribution (S) and Needs Improvement (N),” a former employee told DC.
Another techie who has been asked to put in his papers said he had got no increment and last year’s variable pay as well.
“They are trying to defend their moves by suddenly citing that you have got ‘N’ grade when all these years I had ‘O’ record. Most of us are like a ‘time bomb’ which is about to explode because when you come to the office tomorrow, your seat would not be there. Even freshers are under stress as they have been denied an opportunity to perform well,” an IT engineer with over seven years’ experience said.
However, Mr. Varghese told DC that there have been no massive layoffs in UST Global since the last three to four years.
“People who have left the company have either left voluntarily or joined other IT companies”, said Mr. Varghese.
Courtesy : http://www.deccanchronicle.com
Read the full news and comments in below link
http://www.deccanchronicle.com/140704/nation-current-affairs/article/ust-global-gives-axe-700-staff-technopark