NITES Condemns Unethical Layoffs Started By FIS India

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Manisha Swain

 

Pune, 1st December 2022: The Nascent Information Technology Employees Senate (NITES) has raised concerns over the unethical layoffs started by financial services technology provider, FIS – Fidelity National Information Services, Inc.

 

NITES strongly condemns the statement of the CEO of FIS, Stephanie Ferris saying that the company wants to cut costs as FIS shares have fallen 44% this year.

 

Today (December 1), Nikhileshwar Singh, People Leader – India and Philippines from
FIS sent a termination letter to an employee. The letter stated, “Due to the internal restructuring of FIS businesses in India, your role with FIS has become redundant, and accordingly, FIS has decided to terminate your employment with effect from 30 December 2022.”

 

Regarding the same, Harpreet Singh Saluja, President of, NITES said, “The company has violated provisions of the Industrial Disputes Act and is aiming to restore investor confidence by reducing headcount arbitrarily.”

 

He added, “The termination letter sent to employees states that due to internal restructuring the role of workers has become redundant. The company under the pretext of redundancy is laying off employees illegally and unethically. NITES will leave no stone unturned to provide justice to aggrieved employees.”