IBM Fires Large Number Of Workers In India

'Bloodbath', 'Traumatizing', 'Unprofessional'; many words did the round on social network sites and IT blogs referring to the mass large scale lay offs undergone by IBM this week. As a part of its consolidation & revaluation strategy, IBM has undertaken a global downsizing exercise to cut down costs & smoothen the balance sheet. Analysts say that the downsizing may impact as many as 13000 employees worldwide. Its only an unfortunate fact that the first impact of this is likely to have been in India. Sources told CNBC-TV18 that IBM India had undergone a massive performance evaluation strategy. An employee that did not wish to be names said, "We thought it was part of the appraisal process but later realized that it is in order to identify the bottom performers." While no number could be individually confirmed, sources say that a majority of the lay offs are likely to have been completed on Thursday and some may continue till Friday. IBM India and IBM global did not offer comments, however, IBM's employee union in its sternest said; "IBM India is firing a large number of workers. We do not know how many, or how many are still employed. We are extremely concerned in IBM's drive towards its goal of $20 earnings a share for 2015, it is discarding its greatest asset - its employees. IBM India employees are being terminated and forced out of the company, as are thousand of hardworking IBM workers around the world. We express solidarity with all being impacted by IBM's callous disregard for its workers." Sources also said that IBM senior executives were likely to conduct a town hall meeting next month to allay fears amongst existing employees. Source :  http://www.moneycontrol.com/news/ibu_index.php?storyid=2259