HCL Fires: Three hundred fifty employees worldwide, including those from India, Guatemala, and the Philippines, have reportedly lost their jobs at HCL Technologies. The employees, who worked for HCL’s client Microsoft and its news platform MSN, were allegedly informed of their termination at a town hall meeting last week. The last day of work for the employees will be September 30th, and they will be offered severance pay.
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“For its news portal MSN, Microsoft used to monitor, gather, and edit content from nations like India, Europe, and the US; recently, they automated the process for monitoring international news. Microsoft was not happy with the quality of the work. Burda Media previously ran this website for two years” one of the fired employees spoke to Moneycontrol on the condition of anonymity. The agreement with HCL Technologies has expired and will likely be transferred to another vendor, according to those who know the situation. Similarly, Burda Media laid off about 200 employees when its contract expired two years ago.
Aside from those mentioned above, other features and products have also been negatively impacted, including tabloid hit apps, comment moderation, geopolitical news curation, Bing trending, and Teams’ transformation.
An HCL representative responded to detailed inquiries from Moneycontrol with a statement that stated, “Our Technology & Services vertical continues to see robust growth and is one of the fastest growing segments for us,” but made no mention of layoff-related inquiries.
One of the first giant corporations, Microsoft, cut about 1% of its 1.8 lakh employees in July, followed by 200 more in August. Sundar Pichai, the CEO of Google, recently proposed layoffs to boost the business’ efficiency by 20% following an internal warning to staff to improve performance.
Ultimately, all major technology companies have significantly reduced their hiring. According to Xpheno, the number of open positions in India for Apple, Amazon, Microsoft, Netflix, and Google fell from over 40,000 in July to less than 9,000 in August. At Amazon, a moderate-to-high level of hiring activity remained the exception.
Since the pandemic started in India, more than 25,000 startup employees have lost their jobs; this year alone, more than 12,000 people have been let go.
India’s top IT companies have delayed or partially reduced employee variable payouts for the April–June quarter, particularly for senior staff.
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