IT service provider Mastek on Monday said it is putting 425 staff on 'virtual bench' for the next 12 months following a slowdown in demand.
"We witnessed a slowdown in demand at the end of the last quarter. This move by Mastek is being done to maintain its guidance and to maintain the company's profitability," Mastek CMD Sudhakar Ram told PTI.
If they want to leave immediately, they can. A compensation package is being given, he said. Of the 425, half of them are trainees and the rest are junior staff. They would be given training to upgrade their skills, he said.
A monthly allowance would be given to them, which would be less than 20 per cent from their present salary, Ram said. If there is an improvement in the demand, people would be taken back, he said.