So well at 10 AM, all technology had assembled for meeting addressed by Tod/BD about the lay offs. They came with dramatic speeches. They talked about that business has gone down suddenly in last week and management had to take this decision and revenue had fallen very much. As non-US contributed only 24% (as per last financial years information busmitted to stock exchange), having maintained about 30% market was damn good. And the losses (or revenue as company was still in green) were same the day US operations were terminated and the day possibility of lay offs were declared. What I can defintely conclude is that, these were already in pippline. No one knows about company financails better then BI, not even CEO and CFO, cause they depend upon information provided by BI team. The data provided by them is submitted to stock exchange :-) when quarterly and yearly results are declared. [Nothing about the company financial health taht I have said is previledged or any act of mine over here are against non-confidentiality contract signed by me. If you think then do let me know] From BIS [in IVY it is called Business Intelligence System which has BI, ETL, WH and Capmaign people] there were total four lay offs including me. Well, I was so happy when I came out of the room. the compensation package was too good. Next day when many laid off employees met at a same off I cam to know that some people went to their manager and asked for lay off and crib for it. But I do say that their was unknown fear in may peoples' mind when we all talked, specially married people. About the reaction of BIS team memeber of their buddeis going was not good. this would have cascading effect on the technology. There are consultants and companies just hunting for people from IVY Comptech. Other than this. One thing that I must say that, IVY has been very professional in laying off people from organization. It happend in a respectful and peaceful mannaer adn the compensation package offer was not bad. LAst but not least, HR
(unka number aayega) people made some sincere efforts to out-place people in other compnay. Team was not happy due to two people leaving, one of them being good and pressure that's going to bring on the rest of the team. I came to home with Keshav. Kept all papers and went to Domino's to eat. It was about 3 when we left the eatery. I had never seen hi tech city even though it was just 4 km from my home. I asked Keshav if is is not busy let us take a look around hi tech city. We went there and saw a beautiful lake. Came back home at 7. Dropped Spent night reading about MicroStrategy. The package offered by IVY were really too good. Read here.
Friday, November 03, 2006
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