Jan 12 - 2012

Jan 12th Update

#1. There has been no F&F letters issued to any of the staff who either is terminated or resigned. The reasons given are been very vague and irrespective of people daily visiting to the office and meeting "CxO" daily , except for excuses no firm date yet shared.

#2. Plans of reviving the company by meeting client demands in the short run, making small reachable targets. To be done by retaining a skeletal staff, who all have been paid 2 weeks salary for January in advance. People who are still in the payroll but who did not receive part-salary are not needed by the organization. They were given the offer to resign (sacking would mean paying up the dues) and in return receive a fraction of their monthly salaries. The fraction currently stands at 25% and its again first come first served basis , given the funds in hand are very limited. Their dues till Dec 31st will be honoured when money is available. This offer for voluntary resignation is valid till current funds last. Couple of days time for consideration is given to each.

#3. Connectiva is still working to see how best they can pay the dues to State & Central government . As of now none of the payments of PF , TDS ( deducted from employees globally ) has been deposited to the State/Central Government. NO DATE YET SHARED when will they pay the money.

#4. USA / Israel offices officially closed and their employees sacked without any reason. The dues to them is also pending and the company has no value to legal notices shared.

#5. The Techno India building office is sealed by the owner due to lack of payment of funds towards rental. Its due for more than 1 year. The new office J2 is been used as makeshift place to run the operations.

#6. On average 3 people are resigning the company daily basis and even the stalwarts are no longer @ CTVA. Customers beware on what sort of promises are been made by management.

#7. The total number of employees impacted through this is more than 200+.