AI Due to (Artificial Intelligence), large scale layoffs are being seen in the IT sector. There is panic among the employees of the sector due to the layoffs happening due to AI. Information Technology (IT) employees’ organization ‘NITES’ has appealed to tech companies to give priority to skill development instead of layoffs. The Nascent Information Technology Employees Senate (NITES) has sought policy intervention to impose stringent measures and mandatory severance norms to protect white-collar professionals as the aggressive expansion of AI by the IT industry has led to massive job cuts and uncertainty.
Tech companies’ profits remain strong
The Nascent Information Technology Employees Senate (NITES) argued that although tech companies’ profits remain strong, declining job security raises serious questions about corporate responsibility and accountability. Knights president Harpreet Singh Saluja said, “First of all, companies should take responsibility. If they are investing in AI, they should also invest in retraining their existing workforce.” He said cutting jobs should be the last option, not the first. He urged policymakers to protect employees by implementing clear guidelines on layoffs, mandatory notice periods, fair severance pay and employer accountability.
Oracle laid off 30,000 employees
Let us tell you that American IT company Oracle has recently conducted large-scale layoffs. Oracle has laid off about 30,000 employees globally. The American IT company has also laid off about 12,000 employees in India. Not only this, the second round of layoffs is also expected to begin within a month. Oracle, which employs about 30,000 employees in India, had told the laid off employees through email that many positions would become irrelevant due to organizational changes.
Company will give 2 months salary to employees who leave the job voluntarily
Oracle had offered 15 days’ salary as bonus to employees working for more than a year in India. According to a PTI news, Oracle has offered to pay one month’s salary (unpaid), leave payment, gratuity as per entitlement and one month’s notice period till the last date of employment to the terminated employees. Apart from this, the company has informed to give two months additional salary to the employees who left the company voluntarily.
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
