layoff in full swing in pune.
Daily quota for each vertical, daily few people being fired to avoid uproar.
Fired people being threatened with termination letter f they inform colleagues that layoff is going on and being made to resign and their leaves and notice period money forefieted to boost profit.
http://www.bibeypost.com/insiders-are-slowly-decreasing-positions-in-syntel-inc-nasdaqsynt/
Syntel stock keeps going up. No layoffs in the United States.
hahahah - u stupid syntellites ---------------- getting laid off now .. earlier u use to get laid off by ur managers & syntel management for their pleasure --- now getting actually laid off --- get out of SYNTEL on ur terms - not on their terms
Oh poor top management they are selling their stock for a loss (steck price was more than $%50 last year)
Due to middle mgmt failure top mgmt is paying price. they are selling their hard earned stock at sch low rate.
DM and DD's seems to be unaffected as they getting high variable pay 200% 300% .
Even PLs and PMs have lost money due to less variable pay.
Oh it is clear now why so many good resources were fired in last year, all (incompetent) managers used the opportunity to secure themselves. People with freshly stamped H1 were also fired after taking signature on paper
Good performers who resigned were tagged as sacked in the system so that the career is has blot and they cannot come back into the company to compete with with these folks again
looks at the tenures of DM and DD's they have hardly changed accounts or verticals for decades.
the 18 month rotation policy doesn't seem to apply to these organized internal syndicate's
Not Top management it is middle management that needs to be kicked out.
To understand why read about the peter principle https://en.wikipedia.org/wiki/Peter_principle
Rather than seeking to promote a talented "super-competent" junior employee, an incompetent manager may set them up to fail or dismiss them because they are likely to "violate the first commandment of hierarchical life with incompetent leadership: [namely that] the hierarchy must be preserved".
sab top management needs to be thrown out of the company, all are waste having no ideas no innovation. Guys plan now for better tomorrow, these guys will sell shares and will earn in crores and sit ideal and survive not us....
Confirmed ,I checked with one of the HR in Chennai. They started preparing the list in Chennai.
When the working conditions become demanding pune folks are the first to leave as they avoid challengin assignment. (rats are first to leave a sinking ship)......
Pune folks are resigning in droves as they are unhappy with rating with little or no increment...even their love life's is screwed UL as they are earning salary thatt isnot fit enough to be given even to a peon..
new technique - harass outsider and non locals and keep pushing them onto bench every 3 moths and give low rating by not acknowledging their contribution in STEP appraisal and then labeling as non performer so that they are forced to resign.
This culture started by logistics MS head after he was trained in this technique by mgmt staff in chennai
After forcibly releasing non locals to bench(replaced by locals) he gives misleading feedback to PDAC so that the released resource never gets project (his agents in PDAC ensure that) in any other vertical.
Once the resource ages on bench and is on the verge of firing he acts as savior and acts kind and offers to take the person back (he tells his agent in pdac ) and spreads a new rumor that he called the resource to join fedex mSO and he is not joining etc.(resource will not be aware of these background happenings) PDAC sings the same song and Once the resource is fired this local hero then uses this case to induce fear psychosis in existing resources to make them overwork 12-14 hours a day. it is an elaborate scheme involving this fanatic guy, PDAC and BU HR to maintain supply of exploitable work force to MSO
he even manages to to do backdated releases, as person who is released to bench on a specific day realizes that he/she was released at least a month ago and that mail trigger has been suppressed by jares agent in PDAC.
Is this a confirmed info...while talking to different ppl from Pune..no one knows something like this is happening.