The Chief Minister of Kerala has directed to call an emergency meeting of CEOs of companies in his chamber at 9.30 A.M. on November 13^th 2008 to discuss the effect of global recession on IT.

 

Some of the companies have started to lay off some employees citing reasons of global recession. According to unofficial reports around 100 employees have already been sacked. IBS, a company operating from the Techno Park, Trivandrum has terminated 27 employees, further giving rise to more arguments and counter arguments.

 

Although, Kerala Labour department has conducted an enquiry and did some inspection inside IBS, the Chief Minister who is holding additional charge of IT hasn’t given any comments till now.

 

The Hon Prime Minister Dr.Manmohan Singh has already appealed to companies not to lay off employees in the wake of global recession. IBS management came out with a statement that they are sending out the stirkers and those who didn’t perform well.

 

The directors of IBS have expressed shock and lodged a strong protest against the labour department for conducting inspection. It is widely felt that more and more companies will be moving in the direction of IBS.