Mumbai: Top financial company, Indiabulls has asked close to 2,000 employees to resign. Most of those asked to resign have been told not to report for work after May 31. It has termed the lay off as normal attrition process. Indiabulls employs close to 26,000 people across its various branches in India.
Some employees alleged that Indiabulls was not allowing them to serve the three-month notice period as mentioned in the contract. They said they could have looked for other openings during that time.
“Our appointment letter mentions a notice period of three months from both parties. We had requested the company (Indiabulls) to let us serve the notice period so that we can look for a new job,” an employee said. However, a company spokesperson said that the notice period varies according to the nature of contract.
Authorities at Indiabulls however, are not ready to call the move as retrenchment. It claimed that the development is part of the annual attrition cycle. It said that based on performances every year 10-15 per cent of its workforce are asked to resign. This time keeping in mind the coronavirus outbreak the decision to ask people to leave was delayed. Also the company was keeping a close watch on the decisions of the Supreme Court and Ministry of Home Affairs before implementing attrition.
Employees however, have a different tale to tell. Some people working in the housing department of Indiabulls were in for a shock May 15. On that very day they were asked not to report for work after May 31.
There are others who claimed that Indiabulls is forcing them to resign by transferring them to remote places. An employee in Noida said that he had received his transfer order May 20th. He has been asked to report in the southern part of the country by May 25. “How can I manage that in these circumstances,” the employee asked.
Agencies