Indian IT Professionals Call For Financial Protection After Sudden Dismissal

Pune, 2nd April 2023: The Information Technology (IT) sector in India, though not directly affected by the economic uncertainty in other countries, is experiencing the indirect impact of job cuts in foreign IT companies.

The United States and other major economies are facing an economic recession, which has led to companies reducing their workforce, including a significant number of Indian IT professionals. This has created a sense of insecurity among ITians working in foreign companies, who fear that their jobs may be next in line.

According to labor laws, retrenched employees are entitled to compensation to avoid financial distress after sudden dismissal. However, it is costlier to fire local employees, so foreign companies tend to lay off more Indian employees. To prevent IT professionals from facing financial crises after sudden job loss, they are demanding a lump sum payment until they find another job.

Many foreign IT companies have set up their offices in India due to the country’s cheap manpower, and to reduce the management costs of companies. Projects are sent to these offices from abroad, but there is currently instability among employees in these offices.

Techies are under immense pressure due to the economic conditions in other countries, and the increased likelihood of job loss due to economic instability. The lifestyle impact of sudden unemployment is also significant, and companies closing their offices in India due to reduced business further compounds their difficulties.

Pawanjit Mane, a member of the State IT Committee, has called for the central government’s attention to this issue. He emphasized that IT professionals who have lost their jobs due to the economic recession in foreign countries should receive compensation in India as per labor laws abroad.

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