As we observed recently the Indian IT giant, Wipro has laid off around 600 employees.
Wipro said in an announcement that it attempts a thorough execution examination prepare all the time to adjust its workforce to business targets, vital needs of the association and prerequisite of its customers.
“This systematic and comprehensive performance evaluation process triggers a series of actions such as mentoring, retraining and up skilling. The execution evaluation may likewise prompt the partition of a few representatives from the organization and these numbers shift from year to year," it included. It declined to give a particular figures or data about which divisions have been affected.
Recently Cognizant and HSBC too laid off workforce in India. American multinational corporation Cognizant laid off 6,000 employees i.e around 2% of the total workforce, while HSBC India laid off around 600 employees from its offices in Pune and Hyderabad.
An estimated 60% of Indian IT companies’ revenue were derived from North America followed by Europe with 20%. Organizations, for example, Tata Consultancy Services (TCS), Infosys and Wipro are probably going to be influenced by the US' survey of the H-1B visa program, under which, Indian residents is the biggest gathering to get US work visas.
Companies are laying off their employees and opting for freelancers or contract employees because “Company With No Office Has One of the Best Company Cultures in America.”
Truth be told, most driving business colleges educate a course on overseeing remote groups, or incorporate it as a noteworthy piece of their administration and initiative educational modules, since they perceive that it is so basic to fruitful authority today.
Organizations that figure out how to utilize remote groups gainfully will access a far more extensive and more profound ability pool than the individuals who confine themselves to one geographic region. What's more, for supervisors, sorting out and planning the work of a dispersed group is a significant key to winning acknowledgment and progression in the coming years.
All the while, innovations for coordinated effort, for example, Google Docs, Github, Slack, Skype and now and again even virtual the truth, are expelling hindrances that once hindered doing work remotely. These advances make it less demanding for organizations to ponder procuring telecommuters, not simply impromptu, but rather as indispensable, significant individuals from their groups. Actually, it is discovered that 63 percent of U.S. organizations' specialties have no less than one colleague who works remotely. What's more, no big surprise: Remote specialists frequently make the most of their work increasingly and can be more gainful?
Moreover, being a freelancer, you have the liberty to work with multiple clients simultaneously, you are left free to focus on what you do best – you work on interesting projects of your choice without having to be concerned with the business side of things whereas working full time for an employer would not give you option to settle down once the company withdraws its operations.