Infosys will fire all transferred employee in one year, no severance. Infosys and all Indian companies works on "race to bottom" principle. They will fire all local employees and will bring people from India on all sort of Visa, B1/B2/H1B and L1. Indian companies are never comfortable with non-indian race. All the news about local hiring is hog-wash, they are hiring only Indian settled in US and not local local people. 99% US companies IT has been Indianized, local people have no chance of getting job after paying ton of money to earn STEM degree.
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Will IT contractors be replaced with Infosys contractors?
Look like $700M is for 2 year, To Verizon, here is its calculation, 2500+IT emps * $60+ hourly rate * 2080 hours per year * 2 years roughly == $700m. If Infosys is able to switch more works to India or get cheaper onshore workers to do chores during 2 years, Infosys can certainly pocket any extra saving itself. The writing is all on the board.
https://www.google.com/amp/s/www.thehindu.com/news/cities/Hyderabad/verizon-employees-to-be-moved-to-infosys/article25138429.ece/amp/
This is filed in India ... not sure whether anything of this sort going on in US
When rebadging occurred at ATT 18 years ago, almost all that were re-badged ended up losing their jobs with in 3 years of re-badgeing with out the ATT severance package.
rjj you need to get updated man. Infosys has no offices in Andhra Pradesh, Its now Telangana :)
whats worse is the non-compete clause the bozo's have.
You want you leave, you can't find a good with several companies for 6 mo.
This is the worst part of the whole deal.
It stinks to high heaven.
I wish only the worst for VZ going forward.
That's pretty much how I would expect this "deal" to work out for both VZ and Infosys - cheap replacement of long-term employees in a set timeframe. And that's what's making me consider this "offer" with extreme caution. Not going down without a fight.
Is there no future for a simple poor working peasant in America? No chance to move up the caste system?
On which dock do I catch an ocean liner to a better life in the land of opportunity, India.
@hbt, when you say, “...they didn’t fire or layoff the employee, they simply offered the employee a position in a different state...”, which states are you talking about - Andrah Pradesh?, Karnataka?, where?
Rhode Island’s become stale. There’s no future here. Maybe my kids and myself need to pull up stakes, leave America, and move to the land of opportunity.
😀
What will happen is keep the Vz employees around for 6-12 months depending how difficult it is to transfer the job to India. Also, be aware, that you may not end up with your severance if they offer you a position at a customer location. This is what another Indian company did to folks at my old company. After 6 months, they didn't fire or layoff the employee, they simply offered the employee a position in a different state (at a customers location). So if you don't move to the location where they are offering you the position, then you are basically leaving on your own and therefore, will not get any severance pay.
This is the new scheme these foreign companies have come up with for USA employees to squeeze them out of a job and severance pay. In this way, both companies win. Vz pays Infosys a set price to transfer the job with employee and Infosys then squeezes out the employee without severance.