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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EC directs parties to stop registering voters for beneficiary schemes under guise of surveys
New Delhi (PTI): The Election Commission Thursday said it has taken a "serious view" of political parties and candidates seeking details of voters under the guise of various surveys for their proposed beneficiary schemes as it amounts to a corrupt practice under election law.
The poll authority noted that some political parties and candidates have been engaging in activities that blur the lines between legitimate surveys and partisan efforts to register individuals for post-election beneficiary-oriented schemes.
The Election Commission issued an advisory to all national and state political parties to immediately cease and desist from any activities that involve registering people for post-election beneficiary-oriented schemes through any advertisement, survey or mobile application.
It said the act of inviting or calling upon individual electors to register for post-election benefits may create an impression of the requirement of one-to-one transactional relationship between the elector and the proposed benefit, and has the potential to generate a quid pro quo arrangement for voting in a particular way, thereby leading to inducement.
