Monday, 19th March, 2018

I-Banks to cancel concept of leaves; employees will now need to seek ‘parole’ to get time off

23, Mar 2014 By Vaibhav Anand

Mumbai: A clutch of investment banks and consultancy firms have come together to announce that their employees would no longer be provided with leaves or vacations. Instead, employees would now need to seek ‘parole’ whenever they need time off.

Adding more to the misery

“We have seen a trend of employees annually taking on average three weeks off with vacations and sick leaves and people getting born in their families and people getting hospitalized in their families,” a senior HR executive at an I-Bank said on condition of anonymity. “That is too many off days! Our business cannot survive if people keep taking these many days off.”

“The worst is when women take time off for maternity,” the executive added. “So we are encouraging women in our firm to either get hormone therapy to become men or adopt little creatures.”

The other side of the story was told by Tadapit Kumar, a 27 year old senior associate working with a prominent I-Bank for three years, who looked 45. “I haven’t slept properly in three years,” he said. “All my vacation requests have been turned down by my boss. In fact, even when I was hospitalized with dengue, my boss got a Bloomberg terminal installed in my hospital room, beside my IV.”

“The parole concept will be better I think,” he added. “At least, I will be able to use my dad’s connections to ensure I get parole like Sanjay Dutt.”