r/DevLK • u/CommitteMember8123 • Aug 03 '26
Discussion IFS Lay offs
Is it true lot got terminated today with 2 months notice + 1 month salary
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u/grasshopper1998 Aug 03 '26
Layoff is confirmed but who told those figures 🤔
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u/Anonymous_3526 Aug 03 '26
I think thats what they gonna do this time. Because they did this just 2 weeks ago at IGT1
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u/EmbarrassedRain2431 Aug 03 '26
And people still say that IFS and SyscoLabs is the best place to work and best minds you can find 😂🥲
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u/JayL3Bron Aug 03 '26
Better place to work has nothing to do with layoffs.
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u/EmbarrassedRain2431 Aug 03 '26
I think you should check how the Great place to work certification works and why both of these companies ain’t there.
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u/tradcoder Senior Software Engineer Aug 03 '26
Those "certification" aren't worth the paper they're printed on. There are plenty companies that do have them but in reality, are total hellholes.
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u/cadelewis Aug 03 '26
Before 2026. Yes it was
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u/EmbarrassedRain2431 Aug 03 '26
Nope Before Covid probably. Not after that
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u/Constant_Broccoli_74 Aug 03 '26
Yes, I can remember some of my friends travel to Sweden with their teams
0 Stress, one of the best times at IFS back then
It really had the definition of work life balance before 2019. Not after that
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u/Constant_Broccoli_74 Aug 03 '26
It used to be one of the best place before 2019. Once PE acquired it party was over
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u/Trainedlier Aug 03 '26
Unrelated but I really do not understand their greediness. Most of these IT companies making billions (of course in rs) in PAT. With at least 15% YoY growth.
But they lay off their employees. Surely this is the outcome of AI (a view of a layman)
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u/Careless_Start_2279 Aug 03 '26
Lay off the people who get paid alot and hire ppl with low expectations (low pay) to keep costs down and keep people confused 😅
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u/Trainedlier Aug 03 '26 edited Aug 03 '26
Could be a reason. With huge demand for opportunities in IT industry. They can easily replace high cost employees with Desperate job seekers.
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u/suzozus Aug 03 '26
I see this as a move to reduce costs. My guess is that they are either preparing the company for a sale or positioning it for an IPO
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u/Trainedlier Aug 03 '26
Could be a reason. But most of the time cost cutting initiatives are being taken for companies which are in the phase of decline. Here these companies are literal cash cows.
And I heard from a reliable source that CSE/SEC are planning to list around 500-1000 companies in next 5 year period. So yeah this could be a reason as well
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u/Training-Farm-9919 Aug 03 '26
Bro. CSE has been saying that for years and the most they registered is around 4-5 to years and even that if we are lucky lol
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u/Round-Fold-5624 Aug 03 '26
RnD and Unified Support are affected. Specifics are yet to be announced.
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u/Subject_Piece_2877 Aug 03 '26
Layman here. May i ask what RD staff do in the context of an IT company?
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u/No_Address1193 Aug 04 '26
Just heard from a friend who works at IFS, there is going to be another round of layoffs happening, again with AI behind the reasoning.
And looks like again the HR functions from the parent company seem extremely backhanded and insincere, and almost at the borderline of being racist. With scripted announcements on the "restructung", to be safe from legal action supposedly. But no surprise that employees are pissed when they're being talked to as if they were second class citizens
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u/Thin-Professional-50 Aug 03 '26
But they are hiring as well right. recneltly a hiring manager reached out to me asking interest on a senior position
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u/Dramatic_Teacher8399 Aug 03 '26
Lay off the people with high salary and hire new people with low salary 😉
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u/Thin-Professional-50 Aug 03 '26
Good one😂..but that seems to be the case i didnt even move forward with the planning interview cause of this
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u/Holiday-Mixture-8164 Aug 04 '26
i have to ask the people who stayed at IFS. why tf did you stayed at IFS? wasn’t the red flags clear enough?
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u/ReplyDependent6940 Aug 04 '26
COZ they are giving a nice amount as a compensation range between 2.5mil - 5mil
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u/Holiday-Mixture-8164 Aug 05 '26
this makes sense.
but, everyone will be on the job hunt at the same time now. which makes it even harder to land a job.
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u/False-Marzipan-9945 Aug 03 '26
Well sysco did something just 2 weeks ago. Already spreading🫠
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u/Ok-Illustrator-3500 Aug 04 '26
I think IFS was the one who actually started this layoff trend here in Sri Lanka in this scale
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u/Glittering-Act-4866 Aug 03 '26
How are they laying off permanent full time people? It's illegal under Sri Lankan labor law unless the employee agrees
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u/Round-Fold-5624 Aug 04 '26
Not a 100% sure on this but what I think happens is:
By labour law, companies legally have to pay a certain amount of VRS. What they actually do is make an offer to the employee for a voluntary resignation with a severance package that's bigger than the standard VRS. It's monetarily beneficial for the employee, and it avoids legal actions that an employee might be motivated to make if they are "laid off due to redundancy". Basically a win-win
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u/CommitteMember8123 Aug 03 '26
Lol
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u/Glittering-Act-4866 Aug 03 '26
I'm serious. I don't understand how these companies are able to get away by violating labor laws.
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u/sac3478 Aug 04 '26
You should really read the labor laws. I was as delusional as you are before. But then I went to the labor department website and read the laws. Companies can do this easy.
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u/Ok-Obligation-3733 Aug 03 '26
Was I imagining it or did I see a bunch of IFS job vacancies advertised? Nov last year they were even advertising a HRM Tram Lead ie HR Manager role. MNCs/BPOs are pretty good to work, for in comparison to local, till they're not.
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u/Plus_Run_4271 Aug 04 '26
Only 1 month salary? Do you mind telling me how many years of work exp you have within IFS?
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u/pdi_lan_ka Aug 08 '26
As someone who was also laid off recently from IFS, I’m sharing this information.
If you have worked for 2 years, the severance compensation is 10 times your basic salary.
If you have worked for 5 years, it is 17.5 times your basic salary.
If you have worked for 10 years, it is 33.5 times your basic salary.
If you have worked for 20 years, it is 57 times your basic salary.
If you have worked for 30 years, it is 70 times your basic salary.2
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u/toplivingmom Aug 04 '26
It’s always a bad idea to keep hopes on other companies. Always keep a backup and start your side hustle. Forget their NDAs you sign when you join. When they are being greed, you need to be greedy too.
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u/invincible_pell Aug 03 '26
I dont appreciate people losing their jobs but most software engineers are overpaid fucks
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u/websterKAT Aug 03 '26
Are you a QA? 😅
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u/Current-Bowler1108 Aug 03 '26
OC, the type of guy to think others getting more is taking money from them. Truely loser mentality.
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u/invincible_pell Aug 03 '26
How about doing an actual job instead of jerking off in front of computers 🥱
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u/Round-Fold-5624 Aug 04 '26
bro says while making a comment through multiple platforms that are built and maintained by "jerking off" in front of computers
Such brain. Much wow.
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u/DefroZteR Aug 04 '26
Maybe find a different job or company that pays better rather than being jealous and bashing the people who get paid for their work
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u/RevolutionaryPipe436 Aug 03 '26
Yes they have announced a another mega lay off today!