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| Current News | News Archive | Search News |
Geometric Cuts Bench Salary by 50% |
| by - 06/22/2009 |
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| "Geometric Cuts Bench Salary by 50%" |
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Geometric, PLM solutions provider in India suffers further, passes on the heat to its employees. With Growing pressures, on-bench employees feel the heat. Their salaries are reduced further by 50%.
CEO, Ravishankar (promoted from CFO to CEO of Geometric) with his new team of VP HR Rani Desai (she has never handled any Software / IT Human Resources) has frenzied many initiatives to reduce the running expenses of the company. This includes mass layoffs across its Development centres viz; Mumbai, Pune, Chennai and Bangalore.
Few new hires in the company at the corporate level has raised eyebrows and disheartened many employees, questioning the current corporate policy of cost reduction / layoffs.
Big questions to the Board of Directors of Geometric? Is a Finance person preferred over a Sales person as a CEO? While the entire IT / Software industry prefers its CEO's being sales / business development professionals in the past, Geometric's decision sounds untoward. Also the newly appointed VP HR has more of engineering shop floor experience, where most of the employees worked at the siren of 9 to 5. The demands of the IT industry are very different from Engineering companies. Engineering Services experience is a must in developing new products and services for Engineering / PLM solutions, the Board of Directors has definitely mis-judged and appointed an HR person from an Engineering Services division. The current stock value Geometric definitley reflects a lot!! |
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