Categories: Business

Indiabulls asked 2,000 employees to resign | Indiabulls asked 2,000 employees to resign

Photo: FILE

Indiabulls asked 2,000 employees to resign

Mumbai: Financial services group Indiabulls Group, working in diverse fields, has asked its 2,000 employees to resign from the company. However, the group has stated that it is not a retrenchment operation but part of the attrition of employees leaving the company on an annual basis. Indiabulls Group said in a statement, "The company typically receives 10-15 percent labor force attrition during April-May." This year we waited for the Supreme Court and the Ministry of Home Affairs to clarify the situation. As part of the normal business process, there has been no retrenchment except for employees leaving the company. This action has been taken based on the performance of the whole year, not just a few months. "

However, the group has not given any numbers on this. The group employs over 26,000 people. The group has added 7,000 new employees in FY 2019-20. Recently employees of the group's housing finance company Indiabulls Housing Finance claimed that their reporting manager asked them to resign from the company on 15 May. His last day at the company will be May 31, 2020. Some employees of the housing finance company told PTI that they were not even being allowed to complete the three-month notice period.

One employee said, "Our appointment letter mentions a three-month notice period from both sides." We have requested them to complete the notice period so that a new job can be searched during this time. ”The company spokesperson said that the notice period varied according to the contract of the employees. Some employees claimed that he had been transferred after he refused to resign. An employee said that he is working in the company's Noida office. He has been transferred to South India and has been asked to report on duty there on 25 May. A spokesperson for the company said that the issue was constantly being discussed with employees.

This post was published on May 22, 2020 12:24 am

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