HCL Sacked 350 Employees, Working On News Project With Microsoft
HCL Technologies has laid off 350 employees globally who were working on its client Microsoft's news-related products. These employees were laid off from across the world including Guatemala, the Philippines and India. The last day of work for the employees will be September 30 and they will be offered severance pay.
“Microsoft had an issue with the quality of work. We used to monitor, curate and edit content for its news platform MSN from across countries like India, Europe and the US. They had recently automated the process as well for global news monitoring. Before this, two years ago, Burda Media was managing this site,” one of the employees who was laid off told Moneycontrol seeking anonymity.
“Our Technology and Services vertical continues to see robust growth and is one of the fastest growing segments for us,” an HCL spokesperson said in a statement to Moneycontrol’s detailed queries.
The Big Techs have significantly cut down on hiring. According to a report by Xpheno, in India, across Meta, Apple, Amazon, Microsoft, Netflix and Google, collective active job openings were below 9,000 in August as compared to the typical collective openings of over 40,000. Amazon still was an exception with the moderate-to-above-moderate level of hiring action.
Within the top three IT companies Tata Consultancy Services (TCS), Infosys and Wipro there were either delays or partial cuts in variable payouts of employees, especially for senior employees for the April-June quarter. Interestingly, HCL Technologies, however, didn't have any variable pay-related issues while also offering hikes to employees.
