Anand Mahindra, top bosses apologise as employee told to quit within 24 hours

File image of Anand Mahindra. Reuters[/caption]The employee attempts to reason out his resignation on such short notice, by telling the HR executive about his good performance in the past and lack of options ahead of him.However, the executive tells him that "as part of the offer letter signed by all employees at the time of joining, the company reserves all rights to let the associates go whenever it wants, with the basic salary," as reported by Moneycontrol.According to CNN-News 18, vice-chairman of Tech Mahindra, Vineet Nayyar said in a note: “We have become aware of the incident involving a conversation between an employee and a company HR representative. We deeply regret the manner in which the discussion took place and have taken necessary corrective steps to ensure that this does not happen again in future.”India Today stated that the incident comes at a time when the IT job market in India is apparently crashing. IT firms in India are reportedly in the midst of one of the largest job cuts ever witnessed.The number of layoffs in 2017 is set to be twice that of last year. Inability to deal with US president Donald Trump's nationalist-protectionist policies have further led to job cuts. Even more challenges are faced as acquiring work permits has been stricter in countries like the US, Singapore, Australia, and New Zealand, as reported by PTI.PTI also reported that Wipro had asked about 600 employees to leave as part of its annual "performance appraisal" earlier this year.Deccan Herald reported that "Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under- preparedness in adapting to newer technologies."