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CITU condemns mass retrenchment of IT employees

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The Economic Times
06th November, 2019 22:10 IST

NEW DELHI: Central trade union CITU on Wednesday expressed concerns over the "mass retrenchment" of employees in large players IT players in the country.

Cognizant has said it will layoff as many as 7,000 people across its operations, including India. It is also exiting its content operations business that will impact another 6,000 roles.

There are also reports that Infosys and Capgemini are also firing staff.

"All these IT multinational companies have been earning huge profits and there is no reason to retrench employees. The firing operations are being taken up on the pretexts of ‘growth plans', ‘restructuring', ‘role rationalisation' etc, which are nothing but measures to maximise their profits at the cost of employees," CITU said in a statement.

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