Click Here
Techies in the city are paying the price for the information technology (IT) department not formulating any policies to crackdown on fraud IT companies. Officials point out that one cannot pin-point a bogus company among the thousands of IT companies and nothing can be done till issues are brought to their notice.
Meanwhile, industry insiders are looking at the increasing number of frauds in the industry as an indication of the overall business being hit resulting in many smaller companies shutting down. “The smaller companies which have not been maintaining forward balance would be affected by the financial crisis resurfacing in the United States as most of them survive by running a single BPO or so. Many smaller companies are winding up operations as business has taken a hit and many are unable to sustain.
“The fact that many smaller companies are closing down and some of the bigger ones have not fulfilled their recruitment commitments as well as expansion plans reinforce the fact that business has been affected seriously over the last couple of months,” said the chief executive officer a mid-sized software company. For instance, Tamcos Technologies, the latest IT company to join the list of companies not paying salaries to employees, had to wrap up operations within four months of starting shop. “The company was not able to sustain as it was running a single BPO and could not generate enough profits and decided to wrap up operations,” said investigating officer, Mr Lakshmikanth Reddy.
Source : DC