New Delhi: Big tech is once again in the headlines, but not due to positive reasons. Lately, thousands of workers have been left jobless, and the CEOs of companies are making record-breaking bonuses. This has left employees bitter and doubtful on fairness.
A number of tech giants announced new layoffs, citing their slow growth, uncertainty in the world, and cost reduction. Employees were informed that they had to reduce their workforce as a way of conserving money and safeguarding future of the company.
Nevertheless, it was later reported that the top executives were getting enormous bonuses and salary increases at the same time. In other instances, there was a growth of over 40 percent of CEO compensation, at a time when employees were being requested to depart.
The ex-workers aired out their grief in social media. Most of them claimed to spend many hours working and contribute to the development of the company when they were only to be taken away by email messages or brief meetings. Other employees claimed to have been sacked only a few months after they got positive performance appraisals.
According to labour analysts, this trend is increasing the divide between the leadership in the company and the common worker. Although this might have lowered profits, firms continue to pay top bosses a lot of money.
Tech firms point out that the compensation of CEOs is pegged on the long-term organizational objectives and shareholder worth. They claim that such tough choices as lay-offs are not connected with leadership pay.
Nonetheless, unionism and labour groups among employees are insisting on improved treatment. Others are demanding job protection laws whilst others are requesting restrictions on the amount of the executives pay at the time of layoff.
