IT companies may shed 30,000-40,000 mid-level staff: TV Mohandas Pai
Bengaluru: India's information technology services companies may shed 30,000 to 40,000 middle-level employees this year as growth slows down, IT industry veteran T V Mohandas Pai said Monday.
The former Chief Financial Officer of IT major Infosys Ltd. termed these job losses as once-in-five-years normal phenomenon with maturing of the industry.
"As in all sectors in the West, in India too when a sector matures so many people will be there in the middle level who will not be adding value to the salary they get," Pai told PTI.
Promotions are okay when companies are growing fast but when it slows down, people getting fat salaries will aggregate at the higher level, prompting companies to periodically reset their pyramids, and shedding people, he said.
"It's going to happen again and again and again every five years," said Pai, Chairman of Aarin Capital and Manipal Global Education Services.
"Nobody is entitled to a fat salary and high-paying job unless you perform, right? You have to deliver value".
"All across industry, may be 30,000 to 40,000 in a year...," he said when asked about the number of middle-level staff who would lose their jobs.
But Pai said about 80% of those who lose jobs would have employment opportunities in industries in general if they are specialists.
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Only allegation-free individuals to handle Hajj pilgrims: Delhi High Court
New Delhi: In a recent ruling, the Delhi High Court stated that individuals with no allegations of deceit should be entrusted with the responsibility of handling pilgrims keeping in mind the sanctity of Hajj.
Justice Subramonium Prasad highlighted the provision in the Haj Policy, granting the Central Government authority to bar Hajj Group Organizers (HGOs) against whom complaints of misconduct have been lodged, particularly concerning their dealings with pilgrims.
The court's stance came in response to a plea filed by Al Islam Tour Corporation challenging the Centre's decision to blacklist it for ten years, starting from Hajj 2021. This decision followed a complaint from a Hajj pilgrim, accusing the corporation of defrauding him in 2013 by accepting Rs. 13 lakhs for pilgrimage expenses but failing to refund the money upon cancellation.
Dismissing the plea, the court noted that the petitioner wasn't registered as an HGO for Hajj 2018 and thus shouldn't have been involved in any Hajj-related activities without proper registration.
The court underscored the significance of the Hajj pilgrimage for many Indians, often being a once-in-a-lifetime journey for the less privileged who may spend their entire savings on it.
Furthermore, the court said that while the majority of Indian pilgrims obtain permission from the Hajj Committee, some experienced private tour operators are also authorised to facilitate the pilgrimage.
Considering the objectives of the Hajj Policy and the seriousness of the complaint against the petitioner, the court deemed the imposed penalty justified and saw no need for modification.
