No Salary Hike For Employees In IT Firms

11 Mar

The Global recession is so high for the first time since world war 2 and it has affected the developing countries more.Out of 116 developing countries 94 countries have faced financial shortfall and 43 countries have high level of poverty and are in a vulnerable state.

The most affected industrial sectors are exports,manufacturing,construction and IT firms are not left back in this list .India’s largest software firm TCS are likely to lay off 1,300 employees.The company has a total headcount of around 1.3 lakh employees.

Lay off’s have been started in centers in chennai where around 200 employees have been asked to leave.And the reason given for the lay off by the company spokesperson is “This is mostly for the employees who have been given a second chance to improve and haven’t” .

And the global economy is expected to recover only by 2010, so wage hikes will not be significant a TCS spokes person told hindustan times that “The salaries will be in a flat range for the employees and it depends upon their skill set ” .

And a director of human resources from infosys Technologies told hindustan times that “There are only few jobs in the market because of the global recession and this may persist for the next two to three years and salaries will be low”.

However experts in IT firms say that IT companies do not want to create high expectations for their employees amidst the economic conditions.

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One Response to “No Salary Hike For Employees In IT Firms”

  1. angelnoah March 13, 2009 at 12:12 am03 #

    hi,

    thanks for adding my site on your blogroll. added u as well.

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