With the American economy in deep trouble, Indian IT sector is in trouble. The higher Rupee against dollar and virtually no additional demand has made Indian IT employees redundant.
A sharp rise in the value of rupee against dollar and the slowdown in the US economy have made a chilling effect is the Indian IT body shops like TCS, Wipro and Infosys who call themselves software companies.
Secretly TCS has shown the door to most of its software engineers. Accortding to TCS official version, employees with experience of two years and above across the company who were unable to meet the performance requirements of TCS are asked to look for other jobs commensurate with their abilities. In reality TCS and others do not have new orders from US. They plan to lay off tens of thousands of employees in the next six to nine months.
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