"Oracle India trims salaries with hour-based payments" - This is the heading of a report I read today on business standard. Couple of paras from this report are given below. They had also mentioned that the employees, while still being on the Oracle payroll, can take up contract work. These guys are effectively suggesting employees to look for a new job without actually forcing them to do it. Its good in one way that if you stick it out for next few months then the situation will be back to normal.
The world’s second-largest software products company Oracle is understood to have begun linking the payment of its 20,000-odd employees in India with the productive hours they spend in the company. This has resulted in salary cuts, ranging between 10 and 50 per cent across the board
Company sources explain that if an employee is a billable resource for 15 days a month, he will be paid in full for that period while for the rest of the period, he is paid a “nominal” amount. Replying to an email query, a company spokesperson in India said: “Oracle does not comment on speculation or rumours.
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Related Links for the complete story : http://news.in.msn.com/business/article.aspx?cp-documentid=1773379
Related reports:
MphasiS may impose upto 45 % salary cut
http://news.in.msn.com/business/article.aspx?cp-documentid=1768020
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