HYDERABAD: Software development company CA Technologies seems to be the latest entrant to the club of firms that have downsized employee count. As many as 8,000 professionals working with the firm, globally, are under the process of being retrenched. About 900 techies working with the firm in Hyderabad are likely to lose jobs, said a release from the Forum for IT professionals. In the past one year, firms like CDK Global, Verizon Data Services India (VDSI), and Tech Mahindra retrenched more than 100 of its employees who were based in Hyderabad. “The company has given two options -- retrenched staff can choose to work till November 5 and leave with compensation, or they can choose to move from developer role to service role,” alleged Kiran Chandra, a member of the forum.
The members of the forum also claimed that CA Technologies recently recorded high profit margins and the retrenchments had nothing to do with cutting of losses. In addition, a petition against tech companies Tech Mahindra and VDSI are currently pending at the High Court. The petition is about illegal retrenchment of tech professionals from their service.
