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Old 3rd June 2022, 19:52   #256
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Now Tesla gets into the layoff game.

https://www.ndtv.com/business/tesla-...n-musk-3034749

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In late May, when asked by a Twitter user whether the economy was approaching a recession, Musk said, "Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen."
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Jason Stomel, founder of tech talent agency Cadre said: "I think there's potential that this is just a disguised layoff, meaning they're able to get rid of people with attrition, or without having to actually have a layoff."

"(Musk) knows there's a percentage of workers who are just not going to come back," which he said would be cheaper because no severance would be needed.
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Old 4th June 2022, 09:45   #257
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

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Originally Posted by kaushikduttajsr View Post
I just came across the news that Coinbase has retracted offer letters for many incoming engineers 1-2 weeks before their joining date.
Yeah and not just coinbase, I see this as a new trend on LinkedIn now. Saw a couple of posts claiming TCS too retracted offers at 2-3 days before joining date stating BGV issues. Twitter as well (link). Few more firms are doing this. About time I guess. Why should only 1 party have all the fun?

What this does is brings out the naked reality of ‘ethics’ out in the open now. Have said this earlier as well and will stick to it. Ethics and all are just good for corporate talks and HR discussions/debates. Ground reality is simple P/L & demand-supply business. Employees keep shopping for offers for best price, employers aren’t bound to oblige the offers they released. Interesting times ahead

Last edited by SoumenD : 4th June 2022 at 10:07.
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Old 4th June 2022, 10:14   #258
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Reminded of a joke, read more than a decade ago:

Prospective Employer to Applicant: 'So why did you leave your previous job?'
Applicant: 'The company relocated and they did not tell me where!'
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Old 6th June 2022, 16:27   #259
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Today I was given a profile of a so-called 2-year experienced person working in some start-up company from UP - (Current Salary Less than 2.5 LPA).

The moment I called this person - They asked me if I was calling from an MNC - I said no - They said they wanted only MNC jobs and cut the call
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Old 6th June 2022, 18:52   #260
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

TCS expects fall in staff attrition

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India's top software services exporter Tata Consultancy Services (TCS) expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, a company executive said
Quote:
"Money is becoming more and more dear. There is nothing like free money out there any longer," he said, adding that those attracted by startups over the last few years "will have to look for (other) options."
Link: https://www.livemint.com/companies/n...520131766.html
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Old 9th June 2022, 09:32   #261
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

https://www.bloomberg.com/opinion/ar...ring-companies

Looks like party for startups is over.
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Old 18th June 2022, 16:44   #262
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Sacked TCS employee wins long court battle to get his job back

Thirumalai Selvan, 48, had worked for Tata Consultancy Services for over 8 years before being let go in mass layoffs in 2015.

https://www.moneycontrol.com/news/tr...k-8703571.html
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Old 19th June 2022, 10:04   #263
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

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Sacked TCS employee wins long court battle to get his job back

Thirumalai Selvan, 48, had worked for Tata Consultancy Services for over 8 years before being let go in mass layoffs in 2015.

https://www.moneycontrol.com/news/tr...k-8703571.html
Do I read it correct that this person won the law suit because he was seen as a workman and not a manager? Do managers have a different set of rules compared to a workman?

This ruling for sure will force the IT majors to get more creative while sending people home.
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Old 19th June 2022, 10:49   #264
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Creativity not just in sending people home, but this will trigger actions for most IT companies to keep their JobDescriptions water tight, to ensure there is a clear distinction between types of their workforce. It all starts with the JD I guess.
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Old 19th June 2022, 20:30   #265
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

Not exactly related to the primary Principals in the title but nevertheless, this picture shared by Harsh Goenka on Linkedin tells an interesting story about the causes of attrition.

Infosys, TCS & Wipro suffered 25% attrition last quarter-img_20220619_202416.jpg

Disclaimer: Can't vouch for its veracity. A closer look gives an impression that it could be an informal chit passed (possibly) during a meeting rather than an actual resignation letter.
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Old 19th June 2022, 21:14   #266
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Default Re: Infosys, TCS & Wipro suffered 25% attrition last quarter

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Not exactly related to the primary Principals in the title but nevertheless, this picture shared by Harsh Goenka
From my professional experience, this doesn't seem even remotely possible. No Senior person who directly interacts with Mr. Goenka would write such note and for any junior guy, there are internal systems to submit resignation.

It actually shows mindset of some of these business owners.
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