| Topic : Corporate Layoffs |
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3 comments
10512 views
last activity : 03 17 2011 08:16:15 +0000
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Sapient Corp. became the latest e-consultant forced into major cutbacks by the economic downturn, announcing layoffs around 8 percent of its work force in India (Gurgaon) on Feb 12 and warning it won't make its expected first quarter profit.
Earleir Sapient fired 160 people in July 2008 without notice. Firings were underway with over 200 more people in PIP & bench was already fired on november 2008. On an average sapient fire 1 in every 3 employee.
Sapient said it has laid off employees as part of an effort to cut costs amid a continued
slump in market demand and the economy.
Under the move, the Sapient firm is slated to
cut professionals and administrative staff. The restructuring
also is expected to include office consolidation, but the company said
it will continue to work in all cities where it now has offices. During this quarter , Sapient expects to take a
restructuring charge of employee
severance and office consolidation costs.
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