Bad news coming in for IT employees in Pune, Maharashtra.
4 of the biggest IT firms, which are even listed in stock exchange had to fore 900+ employees, as they lost 60 clients in the last few months.
Here are the details.
Pune’s Big 4 IT Firms Fire 974 Employees
As per filings done with Bombay Stock Exchange, 4 of the biggest IT firms from Pune had to fire 974 employees in the first quarter of 2020, which ended in June.
These 4 firms collectively lost 60 clients, which forced them to fire employees.
These companies are: Zensar, KPIT and Birlasoft, which had to fire employees.
Persistent, another big, listed IT firm from Pune also lost clients, but they didn’t fire employees. Infact, they added employees.
How Many Clients Were Lost?
As per the BSE filings made, the clients are these IT firms lost:
Zensar: 29 clients lost
Birlasoft: 22 clients lost
KPIT: 5 clients lost
Persistent: 4 clients lost
As per the BSE filings, most of the clients which these companies lost belonged to sub-$1 million billing, which means that small and medium scale businesses were the hardest hit, globally.
Since these clients left these IT firms, they didnt had any choice but to fire 974 employees.
Reaction From These Firms
These companies are optimist and hopeful of a recovery in the coming months, as coronavirus cases are finally coming down, and the world will get vaccine soon.
Sachin Tikekar, president, KPIT said “We will continue to ensure our employees’ well-being, uphold all our client commitments, and remain liquid to get through the difficult spell.”
On the other hand Persistent wants to try out new, exciting ways to reach out to customers.
Sandeep Kalra, executive director, Persistent Systems said, “BFSI sector continues to be a standout, as the sector recognizes the need for new ways of reaching customers digitally.”
We will keep you updated, as more details come in.