Majoris Systems to lay off 30 per cent workforce

Kavitha Alexis in Bangalore

Bangalore-based Majoris Systems, which was promoted by the former CEO of BFL Software BV Venkatesh and his team, is laying-off close to 60 of its staff members, according to sources.

The company had earlier implemented a 20 per cent salary cut which was raised to a 50 per cent cut to avoid a lay-off. But owing to market conditions, the company has been forced to lay-off close to 60 employees in the first round.

When contacted, the company’s director Mr Sadashivam denied any plans of an immediate lay-off but has not firmly ruled out the possibility of a lay-off in the near future. ‘‘We are not contemplating a lay-off at the moment. We went for a 20 per cent salary cut,’’ he added.

But sources within were insistent that the company was going ahead with the plan to chop its staff strength.

‘‘Earlier the employees were between a rock and a hard place. They were told that they could look for another option or take a salary cut. Now it looks like it is going to be a massive lay-off,’’ sources said.

The company had close to 170 employees of which only 20 were reported to have projects on hand. Initially the company asked close to 150 people to stay back at home on a reduced salary until projects on hand went up. But owing to the depressed market condition, of the 150 people, a lay-off of almost 30 per cent (amounting to 60 people) has been effected, sources said.