Hyderabad: The Forum for IT employees has raised objections against the practice of laying off employees citing cost optimisation. Mr Vineet Ravi, a IT employee, said, “Cost optimisation is just an excuse used by companies for profit maximisation. There is no other industry with so many employed youth and it is sad to note that we do not have job security. Many IT professionals have to keep switching jobs and sometimes accept jobs that pay even less than their previous jobs.”
Members of the forum said the IT sector had experienced a phase of job stability, but that was not the case any longer. Mr Praveen Chandrahas, a member from the IT forum said, “The IT sector was preferred due to the pay package but it is not an easy job. Our working hours are never considered. Most of the employees come from humble backgrounds in hopes of earning well. Thousands of layoffs have occurred this year which has forced so many professionals out of their livelihoods,” he said.