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Indian’s biggest body shopper stops hiring – what will happen to India’s 100 million cyber slaves servicing Western companies that cannot pay because of depression?
They are in India. They are abroad. They make millions of Rupees in salary and benefits. They live luxurious life. They abused their Engineering degrees in becoming cyber slaves of the West. They fix the legacy software that no European or American like to do. Yes, these are 100 million Indian cyber slaves that are paid for their hourly work, occasionally through middlemen called Indian or western body shoppers.
India’s biggest (mother of all) body shopper is shaking top to bottom as revenue vanish and the trader owner is little interested in supporting the bad trades. Tata Consultancy Services (TCS) has plans to freeze its lateral hiring. According to sources, unless US and the rest of the world economies get out of depression in the later part of this year, TCS will stop all hiring and lay off 25% of its work force.
For body shoppers, it is a downward snowball. They have extensive contracts with western companies that they must honor. At the same time, they have to cut cost because of rapidly diminishing revenue and mounting bad debts. Their services will deteriorate, making revenue further fall. They will lay off more people. The cycle will go on till their owners understand in then next five years, it is a worthless business models and wrap up the company.
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