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HCL Technologies fires more than 300 employees for THIS reason
The software company also stated that it will provide severance pay to any employee who is fired over the course of time.
Highlights
- HCL Technologies has laid off over 300 employees.
- According to the company, these employees' last day will be September 30.
- The software company also stated that it will provide severance pay to any employee who is fired over the course of time.
New Delhi: HCL Technologies, one of India's largest software companies, is said to have laid off hundreds of employees. According to Moneycontrol, the Indian software company has fired employees who were primarily working on news-related products for its client Microsoft. According to the report, sources close to the events revealed that the decision to reduce the workforce was announced during a town hall meeting last week.
According to the report, the employees who were fired were spread across the globe, including Guatemala, the Philippines, and even India, to name a few. The software company also stated that it will provide severance pay to any employee who is fired over the course of time. According to the company, these employees' last day will be September 30.
According to one of the laid-off employees, "Microsoft had a problem with the quality of work." We used to monitor, curate, and edit content from countries such as India, Europe, and the United States for its news platform MSN. They had recently automated the process for global news monitoring as well. Burda Media managed this site two years ago." Other products and departments that have been impacted include trending on Bing, geopolitical news curation, comment moderation, tabloid hit apps, and transformation by Teams.
According to sources close to the situation, HCL's contract has expired, and Microsoft is expected to award the contract to another vendor. The vendor's identity has not been revealed, but it could be Accenture, another massive IT firm.
However, the company has not officially confirmed the layoffs or vendor change. "Our Technology & Services vertical continues to see robust growth and is one of our fastest growing segments," an HCL spokesperson told Moneycontrol in an official statement.
HCL's decision to lay off hundreds of employees comes at a difficult time for the tech industry. Some of the world's largest technology companies, including Apple, Microsoft, Netflix, and many others, have recently laid off some or all of their employees, blaming the economic downturn. Meanwhile, Google CEO Sundar Pichai has warned employees to give their all and asked managers to keep a close eye on productivity.