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IT firms tighten their belts

16 November 2008, Hyderabad.
 

IT employees are a stunned lot these days. Subodh Mehta working with a reputed Tier 1 vendor says "it is like I am walking into a new Company these days." Energy points are deducted if you do not switch off your systems. Only 2 out of 4 lifts are operational. Employees working in the first 3 floors of the building are encouraged to take the stairs. Lights in stair cases are switched on only at 6 pm. TV sets in cafeteria are switched off. The vending machine cups have been reduced. Air travel is out. Company outings are a distant memory. Cab facilities have been cut off. Any allowance claimed is minutely scrutinized and in most cases is rejected without any explanation. The list is long and is only expected to get longer. Ananya Shah, a MT observes "more than the costs being saved, these measures are generating a sense of insecurity in us, employees. Are things really that bad?" No one really knows, for sure. HR solution providers and consultants across Hyderabad are unanimous in their assessment that the hiring has screeched to an abrupt halt. However the trend they fear most is the acceleration of the firing process.

  
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