Big-4 Indian IT Firms Hired 70,000 In 270 Days; General Motors Will Fire 4000 Employees!
GM had announced a cost-cutting plan last November; Indian IT firms see a growth in business.
General Motors has announced a lay-off for around 4000 salaried workers as a part of a reorganisation garnering a lot of criticism from the politicians of the US and Canada. These layoffs are a part of a cost-cutting plan that General Motors announced last November.
The layoff will result in around 15 per cent of the salaried and the contract based workers across seven plants, five of which are located in North America. The president of US, Donald Trump and Canadian Prime Minister, Justin Trudeau have openly condemned the move.
As per reports, the total number of layoffs will affect 14000 people, which include about 6000 union workers. This, apparently, will save an amount of $6 billion in cost. But, General Motors has not given an estimate of the amount of how many workers would be involuntarily terminated as a result of the cuts.
‘Reasonable’ Layoff of 4000 Workers
As per a source, about 2300 salaried employees chose voluntary buyouts, whereas another 1500 contract-based workers were laid off. This source has deemed the layoff of 4000 workers as ‘reasonable.’
On being questioned, a spokesperson from General Motors denied commenting on the layoffs. He also said that “we’ll communicate with our employees first.”
The spokesperson added that the company is working with Canadian Universities and government officials to assist some workers, approximately 3000, that were laid off due to the shut down of a plant in Ontario.
IT Firms Hire 70,000 in the past 9 months
After a relatively low fiscal, recruitment has once again boosted in IT firms in India. As per data collected from four IT companies, around 70,000 employees have been recruited in nine months that lasted till December 2018.
A senior executive at TCS commented on the business of the company and admitted to the rise in it. Ajoyendra Mukherjee, head of global HR, TCS, said, “It’s a significant jump as far as hiring is concerned. And why is that, because there is a corresponding business growth.”
Increased Recruitment In 2018
Tata Consultancy Services, Infosys, Wipro, and HCL Technologies have been reported to gather a revenue of around $46 billion. Also, these companies hired a total of 13,972 people in fiscal 2018.
TCS hired around 22931 employees in the nine months till December 18. HCL Technologies had hired 4,108 people in 2017-18 and now, the numbers have gone up to 12,247 employees. Wipro has hired around 12,456 employees as of December 2018.
Another good news is that, in addition to this, all these companies plan to bring about an increase in hiring freshers. They also intend to increase the placements of freshers through campus interviews, and they plan to do it in thousands!