Amid Recession Fears, This Company Asks 100 Indian Employees to Resign; Revoke Offer Letters. Deets Here

microsoft, amid recession fears, this company asks 100 indian employees to resign; revoke offer letters. deets here

Amid Recession Fears, This Company Asks 100 Indian Employees to Resign; Revoke Offer Letters

New Delhi: EPAM Systems —an American IT services provider has sacked nearly 100 Indian employees —mostly those who were not tagged to any specific project, said reports. Besides, the company has also evoked offer letters to others who were about to join the NYSE-listed firm over the next few months.

The company asked the employees to resign on Microsoft Teams and gave them two options— (1) Immediate exit with three months’ pay; (2) Serve two months’ notice, where their resignation can be revoked if they land any project during the notice period, reported The Economic Times.

On the other hand, the HR managers told the staff that they had over-hired, misjudging the demand forecast and they are unable to fund any projects for onboarding in the near future. The layoffs come amid recession fears and rising inflation.Earlier, top IT and tech firms like Wipro, Infosys and Tech Mahindra have reportedly revoked offer letters given to students after delaying their joinings by nearly three-four months.

According to reports, hundreds of freshers were given offer letters but first the joining of those candidates were postponed and finally, their offer letter was revoked.

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