Pune IT sector under scrutiny: 5th firm shuts in 8 months, 5,000 lose jobs

Pune’s IT sector is under increased scrutiny, with five firms closing in just eight months. About 4,000-5,000 employees have been left without jobs in the city, raising concerns about regulatory oversight in the industry. The latest one, Thynk Tech India OPC Pvt Ltd, is based in Hinjewadi, one of Pune’s largest IT hubs. According to the police, the firm’s owner and CEO, Harshal Thakare, has been arrested on charges of cheating employees and interns. The firm shut down overnight, leaving over 700 employees without a job.

According to investigators, the company collected money from recruits under the pretext of providing jobs and laptops while failing to pay salaries for several months. About 700-1,000 employees, interns and trainee interns may have been affected by the firm's sudden closure, the authorities said. Several complainants have told police that they were asked to deposit Rs 15,000 as a security amount for laptops and were promised salaries after an initial two-month internship period. Many claim they never received their dues, while some cheques issued by the company reportedly bounced.

Employee rights organisation Forum for IT Employees (FITE) highlighted a broader pattern emerging in Pune’s IT sector. According to the organisation, five firms have shut down abruptly in the last eight months, affecting an estimated 4,000 to 5,000 workers. While three of these firms operated from Hinjewadi, two were based in the Viman Nagar-Kharadi corridor.

FITE also criticised state authorities for not taking swift action despite repeated complaints. Concerns have grown over companies allegedly collecting deposits from job seekers, delaying salaries and then abruptly shutting operations.

As police continue their investigation into Thynk Tech, industry observers say the incidents highlight the need for stronger monitoring of startups and IT firms to protect young professionals entering the workforce.