In the wake of worldwide 'economic slowdown' due to the lockdown caused by the Coronavirus pandemic, several multi-national corporations, private companies, media houses and business establishments in India as well as abroad are resorting to harsh policies of layoffs and pay cuts. Capgemini India is an exception. The French IT major has gone ahead with enrollment, salary-hike, promotion and allowance grant for its employees and is not looking at retrenchment.
Capgemini has given a single-digit hike for 70% (that is 84,000) of its employees in India, starting April 1, 2020. The remaining staff will get their appraisals effective July 1, besides a cash allowance of up to Rs 10,000 to its employees in a limbo.
Speaking on the same, Ashwin Yardi, CEO, Capgemini India told The Times of India, "All employees at A and B grades (84,000 employees) have got their hikes and others will get increment in line with our plan. There's no discussion within the leadership of Capgemini India of Capgemini India for a pay cut."
"This is a black swan event and at this point it's not a question of timeline, but how our business will evolve. And we have a clear view as to what our economic model is going to look like and we don't see any reason to discontinue this approach," Yardi added.
On the enrollment front, the French multinational has continued to absorb all the new campus hires, besides offering 4,000 jobs to lateral hires and 2,000 for fresherman respectively in the quarter ending March.
Capgemini, has over 2 lakh employees in over 40 countries, of which nearly 1.5 lakh are employed in India.