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Its L&T Infotech now on Job Cuts

Massive job cuts in the name of reorganizing and handful of recruitments to coverup the decrease in revenue has now become a everyday story. L&T Infotech, the country’s largest engineering company has started requesting employees to resign across its Pune, Chennai and Mumbai centers. It is surprising to know that L&T Infotech even with most of its clients in manufacturing industry is facing the market slow down.

It is seen that the down-sizing is due to fallout in the financial services with customers either closing down or projects having a cutback and delay. It is estimated that so far there has been more than 100 forced resignations. Market analysts put the figue as high as 5% of its 10,000 strong employee base.

Though the company had a net profit of Rs 211 Crore and revenues at Rs 1,573 crores during fiscal 2008, the company still went for downsizing. Looks like companies want to be safer nowadays and can even sacrifice their valuable employees to save a few cents.

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2 Responses to Its L&T Infotech now on Job Cuts

  1. sundar May 21, 2010 at 1:57 am #

    I was downsized from l&t infotech after serving the company for 15 months.Freshers dont ever join this company.There is so much politics and they dont have many clients also.Here after completing sucessfull training they will put u in project if crisis comes they will simply throw away the employess eventhough you are in high priority project.It spolied my career…

  2. Gaurav May 30, 2009 at 11:33 am #

    Even I was downsized from l&t infotech after serving the company for 1.5 years, they asked me to resign. They asked near about 1000 of employees, cause they dont have clients. Its fully depends on core l&t. Politics is at max in this company. They even didn’t think about all those emploees who are downsized, everybody is strugging for job. They ruined our career.

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