http://www.hindu.com/thehindu/holnus/006200802051965.htm
The country's largest software exporter TCS has shown the doors to 500 employees after their performance was found wanting. IBM has also asked employees to resign.
The news harsh on the one who had to resign and to million... of engineers we are producing in this country. Everyone is aware that the US economy is on slow down and thus is forcing FED to cut rate making the US $ weaker and weaker. This is pushing Rupee upwards, thus reducing the marrgins of IT companies.
It appears that a mistake on American Banks on policies to lend money has not affected US economy but also is hitting india. This cutting off employees in such a small number may be associated to performance issues but is it a preindication of what IT industry has for us in future..
So for those in IT just start praying that IT's flag stays up and flying high as Mr. Moorthy said some days back... in the mean time enjoy bcoz come what may life goes on...
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