Deal is set between Verizon and Infosys. Starting Oct 1st all IT employees except people managers will be moved to Infosys. Announcement will be in September.
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Apparently there is no doubt that Infosys will eventually lay-off but as experienced on some other cases, here's how possibly they will proceed:
A senior will join the company and either will head the center or will work with existing head
He/She will boast a lot that we want to make use of Verizon employee's unique set of skills and we want to make this development center a central office to look for more business
The will bring many new processes and will create feelings among employees that they working style is not good enough
Many associates will come from India on deputation to join existing employees and learn what they are doing and will contribute in doing those tasks
Slowly lots of activities will be shifted to off-shore
This roller coaster journey will go for 1 year or little less than 1 year - then they will start saying that this center is expensive to run and Infosys is facing troubles to run the center because of high cost
Then they will say, there is plan for re-deployment for most employees - i.e. they will find another client for most employees because cost in this center is high
Then you will either need to resign or accept the new contract (in case possible)
Infosys and all other Indian companies says they are hiring local people in US or other countries, by local they means Indian who are settled in US or other countries. Infosys management is never comfortable working with any other people. ...
Agree..Yeah the Same Way USA is fighting for rights of people in Middle East..not for OIL. LOL
@Brzm agree on the “race to the bottom” statement
All the transferred employees will be fired by end of year. Infosys works on race to bottom concept. Infosys and all other Indian companies says they are hiring local people in US or other countries, by local they means Indian who are settled in US or other countries. Infosys management is never comfortable working with any other people. Entire US companies IT has been Indianiozed and I don't see any other race in US companies ITs any more, there is no diversity.
Ned Lamont loves Infosys - that's why I would never vote for him. Outsourcing is the scourge of the IT world - usually ends up being a nightmare for the end customer that cannot speak the language and lousy service is the standard.
Verizon does an employee dump of dedicated, loyal United States Verizon management employees working 47 - 70 hour work weeks do to constant downsizing. Verizon employees in a no win situation. Some Verizon IT departments that are cutting employees are hiring contractors at the same time for new technologies. In with the new and out with the old????
Some Verizon employees were retained and offered a separation package. Other US therefore, catch 99 to get a pay check work like a Dog/continue relentless hours and at the same time learn new technology while working a ton of hours.
c. By accepting this offer, employees lose vacation, less 401K match, no tuition assistance. Max vacation cap at Verizon 5 weeks. InfoSys 3 weeks. United State Verizon employees pay differences and benefits will lose $300K+ over a ten year period. No one knows the cost of Info Sys health care once becoming an Info Sys employee that number could grow.
d. By accepting this offer, it is only for maintenance & development which is supposed to slack off over time. New development and technology is staying in Verizon. Basically these jobs will be fazed out... leaving many in an undesirable position again.
- Last Option - Verizon employees not accepting the InfoSys offer or retiring will be terminated and unable to collect unemployment
Does Trump know about this ?
Outsourcing is bad for any country, it's just not about the jobs, but sooner or later, Verizon will find out - out goes the people who can pay for their services also, if the jobs are not here, people won't have the income to buy/pay for Verizon services either.
Verizon and other companies who outsource are baiting the very hand that is feeding them.
Why not outsource Verizon CIO's job also while we are at this, with no in-house Verizon IT, why do they need a CIO ?.
At least I would like to say congratulations to those who will be moving to Infosys; you still have a job. But be mindful with these-
1) For sure, you will be with Infosys only for a year or so. So, get ready with your job trails from the first day you join Infosys.
2) If you on H1B and already completed 6 years and I140 has to be taken care by Infosys, then I am sorry to say, you have no luck with this company and they will invest money on you for this.
3) You end up benefits, 401K matchings etc. Infosys is just like a normal consulting firm but just a bit reputable.
4) No gaurantee that you will be at only one particular location; get ready to travel
5) If you are on H1B, then no gaurantee of H1B transfer approval from Verizon to Infosys at this point of time. Get ready with a backup plan if transfer gets denied
6) Infosys offshore model is worst. You will end up spending extra hours to explain things that you carry through out the day to your offshore counterparts.
Verizon upper management including CEO, CFO have received hundreds of emails seeking fair treatment and they are looking to compensate for the severance lost by employees going to Infosys.
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Does anyone know what the criteria they used to determine who was retained and who was moved to infosys? Other than Directors kept the people that are top A$$ Kissers and most men were retained i can't see any other criteria.
What will be the position of retained employees?
After Hans came to the leadership his first goal was to completely move the IT services to third party.. People are trying to cut costs and destroying lives :( How many good people are there in VZ and they'll be now moved to Infosys without proper benefits and we have not heard what Infy has got to say! As far as I heard they've started recruiting people already for this!
This thread predicted what's going to happen a month before it actually happened.
I find this amazing.
"I am surprised the company would not need FCC approval..."
checks FCC chair's resume
Yeah... I think they're in the clear from that angle.
Does any one know the fate of people being retained in Verizon? I know folks moved to Infosys may stay there for 12 months and then may come out on to the road. don't think the fate of retainers is good. Does retained people get package? Even though some good package is offered, are you sure they all get whoever wanted to get one?? There should be some uncertainty or magic behind the scene. Agree?
I am surprised the company would not need FCC approval before outsourcing the IT services to an Indian company, given that it would mean handling of personal information and sensitive government accounts.
Yes, Verizon did outsource majority % of their IT work of certain Business units to Infosys. People have a problem with layoff. So they found another company to offload them -> Infosys. People have a problem with this too. What they are forgetting is that the folks who are retained, they have a uncertain future as well. You never know when they can be dumped too (irrespective of the fact that the rumour is 50% of CTC as bonus if they sign the 2 year bond).
Face the reality folks, this isn't your father in law's company who will keep sending you goodies whether you are worthy of it or not. Watch your back. Those left off to Infy might have a silver lining to move out to new accounts/work in future. You atleast have a assurance of 1 year retainer at Infosys, Verizon isn't giving any.
Verizon is mandating us to accept infy offer if not we will loose all the benfits how ethical is this
Guys yes you can proceed legally but question is will it be solved in month no it will take years and your career is lost so think
Yes even effected employees should get option of yes or no to Infosys and honered as we served Verizon more than 12 years how can some one decide our fate if it's not legal
Yes no where In our offer it's mentioned that Verizon can sell us to some company loosing our existing benefits and mandating to take offer from some other company can some one suggest legal action
Why only some are affected we joined Verizon because of its reputation and not Infosys how come we are sold to infosys with out our knowledge
What happens to contractors??
Arrogant management ...not giving clear picture
Employees who are affected and unaffected have attended call from MD separately!
You've got mail! (Old timers would know what I am talking about!)
Those who have got call from kalyani or mahmoud are the ones going to infosys ! those who didnt get call after shankers call they are safe !
Only the IT veticles of VDSI will be effected, is whats the general assumption.
It is real. It was announced on 9/24/2018 at 8am EDT
2nd quarter 2018 outsource to Infosys
Already confirmed and announced.
Very few are retained with 100 % bonus of their CTC . As they say only 4% are being retained . rest moved to infosys. Every one will get email by tonight or tomorrow . Non performers will be shown door to exit
Today we will get to know all the details.
Very few having it.
Anybody has retention letter as mentioned in the below comment? I am scared as I don't have it
How far is this news true ? If so when can we expect the announcement.Because it's already last week of September ??
If you are retained .check hr workways .below salary letter their is a new link "rentention letter". If it's not their then you are not retained !
Great, now I really regret majoring in IT in the USA.