Layoff For Cost Cutting Without Proper Reason

Hi,
My company is about to layoff 2000 employees all over india. As per my information the layoff list contains the names of employees with good performance compared to that of non listed employees. If the company lays off employees without legitimate reason, does the employee have any right to claim additional benefits. As I came to know that if the company lays off employees without proper reason just for cost cutting then the company have to pay additional amount depending on the employees working tenure.
Need Ur suggestions on this.
Regards.

Dear Vikranth,
You have not mentioned the type of industry you are into. Are you a unionised company? If not then find out whether you can form labour union. If you form union, then it would become easier to claim retrenchment benefits under the provisions of Industrial Dispute Act, 1947.
Thanks,
Dinesh Divekar