This American IT Firm Fires 100 Indian Employees; Revokes Offer Letter For Freshers
As many as 100 Indian employees have been asked to resign by the American system software company EPAM Systems. Also, the offer letters for those who were scheduled to join in the next few months have been revoked.
As per the sources, the employees who are tagged to any specific project are mostly those who were asked to quit.
100 Indian Employees Asked To Resign
The employees who have been forces to resign come from both the companies, these include EPAM Systems and EPAM Anywhere. These employees are as many as hundred and are across testing, .Net, DevOps and Java domains.
The NYSE-listed IT services provider communicated with employees on Microsoft Teams asking them to resign and giving options of either with three months’ pay with immediate exit or serving two months’ notice where their resignation may be revoked on the condition that they land project during the notice period.
HR Managers Cite Over hiring & Funding as Reason
Speaking on the development, the HR managers said that they had over-hired, misjudging the demand forecast and they are unable to fund any projects for on-boarding in the near future.
For the last few weeks, the layoffs have been done in a staggered manner and most of them hail from EPAM Anywhere.
One such impacted employee said that there could be a fall in demand for resources as the company could have rehired some of its impacted Ukrainian employees who are now working out of nearby countries like Poland and Romania.
According to the firm’s 2021 annual report, the EPAM Systems had 4,349 professionals in India. Indian is the fourth biggest employee diaspora after Ukraine, Belarus and Russia.
This is not the first news about the layoffs at IT firms.
Just in the last month, HCL Tech had laid off nearly 350 employees working on a Microsoft project. The employees were sacked globally, including in India, Guatemala and the Philippines.