Day by day news about the giant IT companies in the financial sector is probably true ,a bad news is unfortunate for the employees. With most of the Indian companies having the peak financial corporate as their big customers and with these big customers like Merrill Lynch, Lehman, Bear Sterns and other Financial Institutes landing in big trouble due to the financial sector melt down - the Indian IT companies started feeling the heat.

With their mis-calculated hedging strategies of the Rupee-Dollar exchange charge, most of the IT companies are not in a position to completely get the benefit of Rupee reduction. There has been news related to HP firing 24000 + employee over the next few years. News is also about Infy firing, Satyam firing, Wipro firing, TCS firing their employees. The Indian top IT companies however are maintaining the position that the firing or layoffs that they do may be related to the performance of these employees and not necessarily relate to the financial meltdown and its impact on their revenues.

Whatever is the motive the IT companies firing the employee may send a bad signal and things may be bad for many IT professionals.