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‘Indian variant’ of the ‘Wuhan virus’!
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Firing of Med Reps is quite normal for pharma companies. Don't confuse this with IT related jobs.
As the letter says, the EMD division has failed and hence they can't invest in it.
It's unfortunate but the compensation and employment of sales reps is highly dependent on their performance and that of the BU
It is not related to IT jobs but what if it happens in IT? We don't have union, we feel unsecured, we don't have bargaining power, labor laws are rubbish/ not effective. We don't have govt support. In West this also happens but labor laws are supportive. Companies can fire as per their whims and fancies. Minimum one year salary should be given in case of firing the employee irrespective of tenure.
You forgot to add unemployment benifits from the government.
In our country we only have PF in the name of social security and for getting your own money out from this pf account is altogether a headache in itself.
Chief
This is very common nowadays. It's all about demand and supply. Even if in govt sector also this kind of thing happens. In sales job u r always in risk. It's all about meeting targets. Sadly in our country we don't have any kind of security for the middle class employees. We pay lots of income tax to govt but if we lose our job the same govt won't give u a penny. There should be something govt must do if someone lose his job but they won't do it and no body bothered about this as well. Byas only few post and vl show how much we care virtually
Chief
Yes because we r not a farmer 😂😂😂😂
This is also market correction, but on jobs. Expect this trend to follow with other firms also.
It will differ company to company, which ever sector in company is under performing and has no significant improvement, will face termination or cost cutting
This is why earlier generation were mad for govt job, even though there were no such scenarios of termination from private companies.
Bro its not about IT sector ! Dont make it worse :/
The context behind is majorly missing. Novartis had an SLA with Dr. Reddy's which has come to an end due to a multiple factors not just revenue targets. Many of these folks would most likely be absorbed by Dr. Reddy's. This doesn't affect Tech, PMO, Consulting, Research, etc. roles. Novartis is in general a very good company to work at.
They should pay 3 months salary atleast for sudden termination.
Don't confuse it with IT sector. ZS associate 1 has correctly replied.
Layoffs can happen. While it's not good for whosoever has to face it, businesses have to take such steps to remain viable. No job is guaranteed. Even govt jobs should not be.