More pain for mid-senior IT employees as large companies plan further layoffs

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More pain for mid-senior IT employees as large companies plan further layoffs
Deal Expired

More pain for mid-senior IT employees as large companies plan further layoffs

IT employees in India, especially mid-to-senior level staff, stand the risk of losing their jobs as most firms are likely to lay off over 5-8 per cent of total workforce in upcoming quarters.

https://www.indiatoday.in/business/story/more-p...

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26 Comments  |  
13 Dimers
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They may have already earned good money. They should take the VRS. Any way, the companies offer 3 to 6 months severance package.
After taking that money, they can again try job elsewhere, if they are still interested to work.
It is a good LOOT for them to get 6 months salary without working.

This is a good positive for senior employees.

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ramadesidime wrote:

They may have already earned good money. They should take the VRS. Any way, the companies offer 3 to 6 months severance package.
After taking that money, they can again try job elsewhere, if they are still interested to work.
It is a good LOOT for them to get 6 months salary without working.

This is a good positive for senior employees.

Six months means how much

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Deal Subedar
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….economy is on downward spiral…yesterday now the reluctant finance minister said yes there are some problem….lolll…living in denial..
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ramadesidime wrote:

They may have already earned good money. They should take the VRS. Any way, the companies offer 3 to 6 months severance package.
After taking that money, they can again try job elsewhere, if they are still interested to work.
It is a good LOOT for them to get 6 months salary without working.

This is a good positive for senior employees.

wat abt their emi? wat if dey have been recently noved to senior levels?

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panchabhut wrote:

Content has been removed!

Shhhhh… yeh sab baatein political section main…. idhar topic pe bane rahiye aur admin ke nazron se bachiye… stuck_out_tongue

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first the IT outsourcing made local workers jobless. now AI making human jobless.

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deal_nirbhar wrote:

wat abt their emi? wat if dey have been recently noved to senior levels?

You mean, EMI of housing loan?
They can clear off with the severance package.
It will be like min 30L for 15years experience. And they can get job elsewhere, if they are talented.

If any person moved to senior level recently, he would not get effected.
Reason being, he is a talented, otherwise, he would not have got the promotion.
Companies need talented and working guys. They can not throw them out.

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ramadesidime wrote:

You mean, EMI of housing loan?
They can clear off with the severance package.
It will be like min 30L for 15years experience. And they can get job elsewhere, if they are talented.

If any person moved to senior level recently, he would not get effected.
Reason being, he is a talented, otherwise, he would not have got the promotion.
Companies need talented and working guys. They can not throw them out.

Lets consider severance package to be 6 months equivalent. With 30L package, after all cuts, they may have 1.5L per month take home. This will be 9L.

I dont think any housing loan be less than 30-40L these days. Not to mention that they have to support family expenses. I don’t want to get into any debates on need vs wants.

It not so easy to find another job being in senior level, for that matter any level if laid off.
Whoever is on the verge of changing, it definitely is a win-win situation for them.

Please note that I’m not in favor or against the lay-offs. But its just that I find the comments little offensive.

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ramadesidime wrote:

You mean, EMI of housing loan?
They can clear off with the severance package.
It will be like min 30L for 15years experience. And they can get job elsewhere, if they are talented.

If any person moved to senior level recently, he would not get effected.
Reason being, he is a talented, otherwise, he would not have got the promotion.
Companies need talented and working guys. They can not throw them out.

who says min 30 L for 15 yrs exp??

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andromeda wrote:

Lets consider severance package to be 6 months equivalent. With 30L package, after all cuts, they may have 1.5L per month take home. This will be 9L.

I dont think any housing loan be less than 30-40L these days. Not to mention that they have to support family expenses. I don’t want to get into any debates on need vs wants.

It not so easy to find another job being in senior level, for that matter any level if laid off.
Whoever is on the verge of changing, it definitely is a win-win situation for them.

Please note that I’m not in favor or against the lay-offs. But its just that I find the comments little offensive.

1)Yearly salary for 15years software experience person = 15 × 2 = 30L
2)Severance package 1.5×6 = 9L
3)Gratuity = 15×0.5×1.5 = 11.25L
4)PF accumulation = 12% yearly salary over 15 years = 15L

Total = 35L (If there are any deficiency , reduce the total by 5L) = 30L min.

Usually more experiences people (age above 45 year) get effected during this downturn.
That means, if the person joins in company at the age of 23, he would have worked for at least 22 years, would have made huge money by accumulating the wealth.

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ramadesidime wrote:

1)Yearly salary for 5years software experience person = 15 × 2 = 30L
2)Severance package 1.5×6 = 9L
3)Gratuity = 15×0.5×1.5 = 11.25L
4)PF accumulation = 12% yearly salary over 15 years = 15L

Total = 35L (If there are any deficiency , reduce the total by 5L) = 30L min.

Usually more experiences people (age above 45 year) get effected during this downturn.
That means, if the person joins in company at the age of 23, he would have worked for at least 22 years, would have made huge money by accumulating the wealth.

After 5 years of software experience according to you he will get 30L confused
I have no idea about it , as i am still a student….. I know few people get that much but they get that much because they are worth it…..and such people won’t be terminated right?

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jileg wrote:

After 5 years of software experience according to you he will get 30L confused
I have no idea about it , as i am still a student….. I know few people get that much but they get that much because they are worth it…..and such people won’t be terminated right?

Thanks for pointing the typo error.
Typo error read this ‘’1)Yearly salary for 5years software ’’
as
‘’1)Yearly salary for 15years software ’’

Its ok. I can understand , students are usually do not read the important calculations.

PS: We are talking about mid level managers, not entry level guys who are <15 years experience.

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ramadesidime wrote:

Thanks for pointing the typo error.
Typo error read this ‘’1)Yearly salary for 5years software ’’
as
‘’1)Yearly salary for 15years software ’’

Its ok. I can understand , students are usually do not read the important calculations.

PS: We are talking about mid level managers, not entry level guys who are <15 years experience.

“students don’t usually read important calculations” xD

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ramadesidime wrote:

1)Yearly salary for 15years software experience person = 15 × 2 = 30L
2)Severance package 1.5×6 = 9L
3)Gratuity = 15×0.5×1.5 = 11.25L
4)PF accumulation = 12% yearly salary over 15 years = 15L

Total = 35L (If there are any deficiency , reduce the total by 5L) = 30L min.

Usually more experiences people (age above 45 year) get effected during this downturn.
That means, if the person joins in company at the age of 23, he would have worked for at least 22 years, would have made huge money by accumulating the wealth.

PF can not be withdrawn if the person is joining some other job within next 3 months. The new employment will get linked to the old account (UAN).

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panchabhut wrote:

PF can not be withdrawn if the person is joining some other job within next 3 months. The new employment will get linked to the old account (UAN).

Can u help me regarding pf withdrawal

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chirag.b wrote:

In iPhone no option for chat 

Please open desidime.com in browser/desktop when u have time

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workingdimer wrote:

Please open desidime.com in browser/desktop when u have time

Okay 

Will revert back 

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This is the way It industry works
Expensive resources equals to lesser margin
So a person of 30 Lac package is equivalent to 10 freshers
If he does not justify the package through work and innovation in organisation, automatically becomes a candidate for pink slips

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workingdimer wrote:

Can u help me regarding pf withdrawal

not directly, but if you want to know the process then DM.

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Deal Subedar
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There is a salary bubble now, where there is huge pay gap between lower tier with good skills and higher tier without any special skills. There is gonna be huge pain for them.

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chirag.b wrote:

Okay 

Will revert back 

Hello Chirag, did you get time?

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chirag.b wrote:

Okay 

Will revert back 

Hi bro, sent you message in pm, can you reply me?

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