Due to the recession that has appeared in the economy in recent times, many companies have resorted to laying off staff and absolutely reconstructing their Businesses in order to cope and deal with the changes that have appeared around so as to stay functional. Multi-million dollar corporations such as Google, Microsoft, Spotify, and the latest in this long list, Wipro, have laid down a huge amount of employees on accounts of poor or underperformance.
According to the latest news, Tech-Giant Wipro Has made this list and fired somewhere around 452 fresh recruits on the grounds of not performing according to company standards. The surprising thing is that all of these recruits that were fired had received training on behalf of the company, which means that their work was up to company standards and they were fit for active work within the firm.
In conversation with one of the freshers who had been fired from the company, their statement was that They came from a farming family and that they had taken a student loan of Rs 4,00,000 in order to pursue a course of B.Tech. In the current situation and scenario within the economy, the statement continued that they won’t be able to get another job in this sector and that the only way they could earn money was through daily wage work.
Estimates are that there have been somewhere around 50,000 jobs rescinded due to this economic stagnation in the past month itself. Tech companies of all sizes have gone on a hiring spree in the course of the past few years due to an increment in demand for their products. This led to them gaining massive popularity and helped with expanding their domain as well. But as the demand for such products and services dwindled, so did the inflow of resources, due to which these companies and conglomerates have had to subject themselves to these layoffs.