More than 100 employees have been laid off by Consulting and outsourcing firm Capgemini at its Chennai centre. As per the reports, Capgemini sacked 600 employees in Hyderabad and Pune. The company has nearly 20,000 people working in India and the pink slips were issued for mostly in the middle management employees.
According to the sources, the layoff across centers was due to overall economic slowdown, company’s project flow and clients were impacted by this.
Though the size of the contracts from the clients have been ramped down, like the “Lehman Brothers account closed after the company’s collapse”. Apart from the middle management, some employees on temporary basis were also asked to leave.
India is central to the global delivery model and also in the process of mapping existing skills with the business in hand and the business outlook. The economic condition is tough and no company is immune to its effects.
Sources also say that industry was seeing a service within all the affected verticals. The process is hard but it has to be undertaken to align the business with global economic realities, optimise operational efficiency, ensure financial health and enable future growth.
In the financial year of 2009, Capgemini group posted consolidated revenues of Euro 2,205 million, up 0.9 per cent compared with the year-ago period.
Saturday, May 16, 2009
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