Capco India Initiate Garden Leaves for Employees amid low Work Order
'Garden leave' refers to the period during which an employee is absent from work or works remotely while on notice. The employee stays on the payroll and is leaving their employment, but they are not permitted to return to work or begin any other employment while on garden leave.
Capco India Initiate Garden Leaves for Employees amid low Work Order from customer
Capco India, a Wipro Limited subsidiary that provides global technology and management consulting specializing in driving digital transformation in financial services, has sent some of its employees on Garden Leave, handing over two to three months’ pay as part of the no job support policy initiative.
‘Garden leave’ refers to the period during which an employee is absent from work or works remotely while on notice. The employee stays on the payroll and is leaving their employment, but they are not permitted to return to work or begin any other employment while on garden leave.
Employees who have resigned or had their employment terminated do not return to work during the ‘Garden Leave’ period. Employees will be on leave for 2–3 months. Furthermore, before leaving the organization, employees are required to submit timesheets and fulfill exit procedures.
According to media sources, one of Capco India’s biggest clients, HSBC, has decreased its business with Capco. This could have prompted the corporation to send employees on Garden Leave.
Some employees (on the condition of anonymity) who spoke with TOI stated that they were asked to resign since they were unable to find work in other projects inside the business.
Capco operates at the intersection of business and technology, serving over 100 global organizations by combining innovative thinking with unrivaled industry knowledge to deliver end-to-end data-driven solutions and fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector.
Capco’s cutting-edge inventiveness, on the other hand, is brought to life through its Innovation Labs, award-winning Be Yourself At Work culture, and varied personnel.
- Lubrizol and Polyhose Sign MoU to Manufacture Medical Tubing, Expand Capacity in Chennai - November 14, 2024
- After Seen 6.6% Rise of EPFO Contributors Government plans to hike EPF wage ceiling to Rs 21,000 - November 11, 2024
- Termination Of Service After Employee’s Retirement Unknown To Law In Absence Of Pending Departmental Proceedings: Patna High Court - November 5, 2024
