Home > business, finance, india > mastek gives option to employees

mastek gives option to employees

In the first open acknowledgement of the hit the IT industry is taking and the need for companies to downsize, Mumbai-based IT firm Mastek has given 425 employees the option to resign or stay with the company and receive training.

The employees who stay back will also receive a nominal compensation. All these employees are staff who are not on billable projects and in excess of the regular bench (extra staff most software companies maintain in readiness for new projects).

“We didn’t want to play with our employees and call it non-performance… We are not making this action based on individual performance, we all know it is a downturn,” said chairman and MD Sudhakar Ram. In the last few quarters, nearly all IT firms have become more strict with their performance criteria and have laid off a number of employees for non-performance.

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