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February 05, 2008
In the wake of a looming US recession, India's IT sector seems to be hitting the panic button. After announcing a cut in the employees' salaries, IT major TCS [Get Quote] saw 500 of its employees quiting their jobs soon after a performance appraisal.
IBM too has laid off around 700 entry-level trainee programmers across offices in India on the basis of performance. More IT companies are now looking at strict cost cutting measures. Salary hikes and bonuses are also likely to come down in the IT sector. Are you worried by these developments? Do you work in the IT sector? What are your fears? Will the situation worsen? Tell us your views.
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