Bluelabs Technology Solutions, an IT services company, wound up its two facilities operated from Infoparks at Trichur and Kochi last September. Hundreds of IT professionals lost their jobs in the sudden shutdown of the company. The company was functioning in the fields of IT, Design, and Managed services. They were the developers of the new website of Federal Bank.
Many of the employees were denied their salary for 5 to 6 months, which may go upto 2 to 3 Lakhs. When the employees found out that their PF was not paid by the company even though the amount was deducted from the salary, they had filed a complaint with the commissioner of Employee Provident Fund.
According to keralaitnews.com, the CEO of the company said that there was a loss of Rs. 6 Crores and he was left with not other option but to shutdown.