KITU against Altisource on the issue of mass retrenchments

Massive retrenchments happening in Altisource Bangalore, in which hundreds of employees terminated even without a prior notice. Karnataka State IT/ITeS Employees Union #KITU strongly condemns this illegal action by the management of Altisource. According to the Industrial Disputes Act, Companies that employs more than 100 employees need to obtain approval from the Government in order to execute layoffs. Layoffs are permitted only for specific reasons and under certain regulations defined in the Industrial Disputes Act.
Altisource is in the news infamously for their unethical and inhuman method for layoffs. Affected employees spoke to KITU about their ordeal and victims were still in a state of shock. Many employees unwillingly signed the separation agreement fearing humiliation and termination.
KITU warns Altisource that as per the Industrial Disputes Act 1947 section 2(ra), unfair labour practices (“to indulge in acts of force or violence”) it is an offense on the part of an employer to force an employee to resign. Employee has all the legal right to refuse to sign the separation agreement.
KITU extends all support to the affected employees in Altisource and urges the management to respect the law of the land and reinstate all laid off employees with immediate effect. KITU calls upon all the IT/ITeS employees to come forward in solidarity with the employees of Altisource and also against the inhuman practice of mass retrenchments.
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