seems IT firm layoffs are meant to meet IT SEZ(special economic zone) hiring target to benefit from tax breaks (without generating new business)
Fire senior resources (with salry 10 lakh and 10 years exp) and hire junior on less salary(2.5 lakh) in 1 is to 4 ratio and make double profit by cost reductin and zero tax liability due to SEZ.
the SOW and purchase order and taken from client on SEZ address to evade taxes.
Zeero business on old address in STP.
Central government should start looking into these bad practices and thinking of scrappig tax breaks to SEZ as no new emloyment is being created and just old employee fired and trainee hiired in 4:1 proportion. after eating 25 years of tax breaks IT industry gifts layoff to indian tax payers.