Bad news for IT employees...

IT companies, faced with a free-falling dollar and receding bottomlines, are cutting wages of

their staff, reducing increments and freezing recruitment. They are also forcing techies to work

for more hours so that every dollar they earn is worth it. Industry analysts say Indian software

companies, labelled globally as cyber sweat shops, spend up to 45 per cent of their dollar

earnings on staff salaries. And every dollar counts at a time when the greenback has plunged to

an all-time low of Rs 39.39. Of course, the latest developments have been worrying those

techies who earn part-dollar wages.