Capco India, a subsidiary of Wipro Limited has sent some of its employees on Garden Leave, handing over 2 to 3 months’ pay.
What Is Garden Leave?
A garden leave refers to the period during which an employee stays away from the workplace, or works remotely during the notice period. The employee remains on the payroll and is terminating their employment, but is neither permitted to go to work nor to commence any other employment during the garden leave.
What will be the effect on Employees of garden leave in Capco?
During this period employees don’t go to work having resigned or having their employment terminated. The employees will be on these leaves with a 2-3 month payout. Additionally, the company has asked its employees to submit timesheets and complete exit formalities before they exit the firm.
Why has Capco India sent employees on Garden Leave?
TOI report said, one of Capco India’s key clients HSBC has reduced its work with Capco. This might have caused the company to send employees on Garden Leave.
Some employees (on condition of anonymity) who spoke with TOI have informed that they were asked to resign as these employees were not able to find a job in other projects within the organization.
Capco, a Wipro company, is a global technology and management consultancy specializing in driving digital transformation in the financial services industry.
With a growing client portfolio comprising over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivaled industry knowledge to deliver end-to-end data-driven solutions and fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector.
However, Capco’s cutting-edge ingenuity is brought to life through its Innovation Labs and award-winning Be Yourself At Work culture, and diverse talent.