HI all,
I have been working with a private software company in bangalore for last 5 years. My present designation is Project Leader. For last 5 appraisals my ratings have always been good and have successfully completed numrous projects in last 5 years.
But presently there are few visible issues:
1. The company is not able to bag enough projects and is deciding to layoff/terminate. Verbally its being communicated that employer is not able bag enough projects.
2. The layoff/terminate is happening is such a way that HR is asking the employee to resign.
3. HR is saying a 2 mnths of salary will be paid. Not sure full salary or only basic. There is no concept of DA in this company.
In such case can the employee:
1. Reject the offer
2. Take legal action
3. Accept the offer with higher compensation, e.g. 1 year salary, along with other below dues
a. PF/Gratuity
b. Earn leave amt.
From India, Bangalore
I have been working with a private software company in bangalore for last 5 years. My present designation is Project Leader. For last 5 appraisals my ratings have always been good and have successfully completed numrous projects in last 5 years.
But presently there are few visible issues:
1. The company is not able to bag enough projects and is deciding to layoff/terminate. Verbally its being communicated that employer is not able bag enough projects.
2. The layoff/terminate is happening is such a way that HR is asking the employee to resign.
3. HR is saying a 2 mnths of salary will be paid. Not sure full salary or only basic. There is no concept of DA in this company.
In such case can the employee:
1. Reject the offer
2. Take legal action
3. Accept the offer with higher compensation, e.g. 1 year salary, along with other below dues
a. PF/Gratuity
b. Earn leave amt.
From India, Bangalore
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
+1 Other
When the inevitable is about to happen,read the signs and move out.
Rejecting the offer of voluntary resignation will only result in termination or joblessness when company folds up.
Legal action will not help in short run in any way.
Companies do collapse.
If you get a better offer,leave the present employment gracefully.
From India, Pune
3131Rejecting the offer of voluntary resignation will only result in termination or joblessness when company folds up.
Legal action will not help in short run in any way.
Companies do collapse.
If you get a better offer,leave the present employment gracefully.
From India, Pune
I do not think that there is much scope for any legal action available for you if they terminate you.The management can prove that you were holding supervisory position and hence you are not eligible for any right under the ID Act You may also examine the provisions of Karnataka shops and commercial establishment Act on legal possibilities..Whether you resign or terminated you will get gratuity.You are also eligible for bonus and EL amount depending upon Co's policy.You can transfer or withdraw PF.
From India, Thiruvananthapuram
From India, Thiruvananthapuram
Hello,
In reply to the choices you mentioned--1,2,3,a & b--I would say NONE OF THEM.
The ONLY choice you have is TO ACCEPT REALITY & move on in life & career.
In way, you have some sort of an advance notice about what's about to happen---so make the best use of it. Begin to look for new jobs ASAP.
And also suggest learn from this situation that there are ALWAYS downsides to any choice one makes.
Most often, people of your age get enamoured by the IT sector that they fail to see the downside....which is what you are facing now.
Things were far worse in the 2001 & later 2008 recessions.....thousands of IT professionals got laid-off getting a shock of their lives. Till then, getting laid-off was unheard of in the Indian context......one only heard that it happens in USA.
Suggest DON'T wait until you get terminated/fired. Buy time to the extent you can & then resign after getting another job. In the meantime, if your turn comes to be contacted by HR, prefer resigning to being terminated. Like Nathrao mentioned, termination will bring more new problems than solving this one.
Now-a-days, Companies prefer those who can join ASAP....which is what you would be able to do. So you DO have an advantage, in a way, over others in your job hunt. And you can always be candid about the reason for resigning......company going for layoffs due to lack of projects is now an accepted fact of life in the IT sector.
All the Best.
Rgds,
TS
From India, Hyderabad
In reply to the choices you mentioned--1,2,3,a & b--I would say NONE OF THEM.
The ONLY choice you have is TO ACCEPT REALITY & move on in life & career.
In way, you have some sort of an advance notice about what's about to happen---so make the best use of it. Begin to look for new jobs ASAP.
And also suggest learn from this situation that there are ALWAYS downsides to any choice one makes.
Most often, people of your age get enamoured by the IT sector that they fail to see the downside....which is what you are facing now.
Things were far worse in the 2001 & later 2008 recessions.....thousands of IT professionals got laid-off getting a shock of their lives. Till then, getting laid-off was unheard of in the Indian context......one only heard that it happens in USA.
Suggest DON'T wait until you get terminated/fired. Buy time to the extent you can & then resign after getting another job. In the meantime, if your turn comes to be contacted by HR, prefer resigning to being terminated. Like Nathrao mentioned, termination will bring more new problems than solving this one.
Now-a-days, Companies prefer those who can join ASAP....which is what you would be able to do. So you DO have an advantage, in a way, over others in your job hunt. And you can always be candid about the reason for resigning......company going for layoffs due to lack of projects is now an accepted fact of life in the IT sector.
All the Best.
Rgds,
TS
From India, Hyderabad
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