It's normal attrition trend, says Indiabulls amid uproar over layoffs (Ld)

Source : IANS
Author : IANS
Last Updated: Thu, May 21st, 2020, 17:43:08hrs

Mumbai, May 21 (IANS) After an uproar on social media over Indiabulls Housing Finance sacking almost 2,000 workers, the group has said that it is a normal attrition trend.

A company spokesperson told IANS, "The Indiabulls Group employs more than 26,000 people. In FY19-20 itself, we added 7,000+ new members. The company typically sees an attrition of 10-15 per cent of its workforce every year during April-May in the normal course of business."

Indiabulls said this year they waited for clarity from the Supreme Court and the Home Ministry. "This year we waited till we got clarity from the Supreme Court and the MHA. This is based on performances and the trend of the entire year, not just a couple of months. There are no layoffs other than in the normal course of business due to attrition and as per the trend of the last many months," the company spokesperson said.

Indiabulls Housing Finance is said to have sacked around 2,000 employees, leading to a roaring social media outburst. The social media outpouring by the employees is streaming on Twitter with the hashtag #IndiabullsResign.

One employee posted, "Even after knowing current Pendamic situation #Indiabulls is firing around 2000+ staff without any notice. Firstly they deducted our salary after that they are pressurized to self resignation. How will people get new job in these tough days."

It is said that these employees were being sacked over WhatsApp calls, which cannot be recorded.

"Before virus, tension and depression will kill emp's who's getting fired by their companies thru WhatsApp call without any clarification or any notice period in this corona crisis and creating panic so that they will return to Hometown," said one netizen with the hashtag #Indiabulls_Forcing__For_Resign.

"#indiabulls Harashing it's too much mentally harassment, today indiabulls doing with us. without any proper intimation company saying that my economic condition is too bad m unable to give u salary from next month..They all r mentally harashing us," tweeted another.

Some have said that Indiabulls could donate to the PM-CARE Fund, but can't pay salaries to its employees.

Amar Thakur tweeted, "I don't understand this. #Indiabulls which donated 21 crores to #PMCARES fund has #laid off 2000+ #employees with no severance package. These guys had the money to donate to PM CARES fund but don't have money to pay salaries for their employees. Why would a company do this??"

Antara Mukherjee posted on Twitter, "Indiabulls contributes 21cr in the PM-covid fund and then take one day salary from the employees as covid fund, cut out salary 20-40% from the employees and then finally asking to leave the company. But in system all will be found as voluntarily."

Many of these posts have tagged the Prime Minister, the Home Minister and the Labour Minister, among others.

"Indiabulls firing forcefully thousands of employees without any notice with a reason of lockdown. Forced salary deduction of 30% also done. Need ur help for full compensation. Thanks..!!," read one post.

--IANS

san/arm