Bengaluru: Around 1,200 employees, mostly B.E/ B.Tech graduates with one to two years of experience were unceremoniously given pink slip by a Tech major in the city on Thursday.

The employees were packing their bags after the day’s work when the company revealed the shocking news, without citing any valid reason, barring that the company was unhappy with their performance over the last one year.

An e-mail from the HR came as a shocker to about a thousand employees.

“It was shocking. We were not even given a hint over the same. We come to know that we were ex-employees only after reading the mail,” said a techie who was handed over pink slip.

Cost cutting

Meanwhile, several employees who stayed late and held discussion with the HR section informed that company has fired these employees as a cost cutting measure. “The company wants to employ 1,500 new graduates next year for lower CTC and hence firing this thousand employees was a feasible way out,” pointed an employee.