Updates on unfair, illegal and deceptive layoffs by Cognizant (CTS)

This entry is part 7 of 19 in the series Struggle Against Layoffs
Corporate Terror

All these to increase the profit rate of the fat cats who invested $$$s in CTS

More and more information keep reaching us about the illegal and inhuman layoff of thousands of employees by CTS. The company is ruthlessly executing its plan to place specified number of employees in 4th bucket and eliminating them one by one. According to one manager who contacted us, reporting managers have been instructed to place 7% of their subordinates in 4th bucket.

Another source informs us that women employees availing maternity leave are placed in 4th bucket. One such employee, on returning from leave, has been warned by management that she will have to look for another job within 2 months, or can leave immediately taking 2 months salary.

A manager is made to rate 7% of his subordinates as “meet some goals” and then he himself is placed in 4th bucket and marked for sending out.

All these to increase the profit rate of the fat cats who invested $$$s in CTS. Their shareholder Elliott management which owns 4 percentage stake in cognizant wants to increase operational margin from 19.5 percent from to 22 percent in 2019. CTS had already reached on agreement with Elliott management.

CTS doesn’t worry about the employees who slogged day and night to make the profit margins of the company possible, they are worried about 2 percent margin. The employees have children going to school, parents undergoing medical treatment, EMI’s to be paid.

The naked truth is corporate greed is more important than everything mentioned above.

CTS appraisal system and forced resignations violate Indian labour laws and we call upon employees to resist these attempts by the company. Please contact NDLF – IT Employees Wing and consult our lawyers before you decide on the company’s demands.

Also remember that you need not work for 12 hours, 13 hours a day. Managers forcing these unreasonable working hours directly or indirectly on the employees should be resisted.

Together let us put an end to this corporate terror.

Series Navigation<< CTS : “You may have performed well, but we want you out”!Cognizant (CTS), TCS, now Wipro – Should We Accept this as Normal? >>

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