Labour law in India comprised of many legislations, most of whose underlying purposes were increasing social welfare and security. 2020 was expected to be a revolution in Indian labour regulations as the previous laws were consolidated into four new Labour Codes. The influence of the Codes on Indias unorganised economy and information technology (IT) industry, where the pink-slip movement is rife, is the exclusive subject of this article. It also investigates how the inapplicability of the Codes to the unorganized sector adversely impacts its stakeholder. This research is extremely necessary, particularly in view of current socioeconomic developments affecting Indian labourers, particularly in emerging industries like information technology, where the pink-slip phenomenon was observed to be pervasive during the COVID-19 outbreak. The analysis on the unorganized sector is particularly crucial as it reveals the lacunae in the existing legislation and also stresses on the insufficient reforms ushered in by the Labour Codes. The data is gathered and analysed for the article using the doctrinal approach of legal research. It also gives a summary of Indias labour law system, which culminated in the four labour codes. In the end, it proves that the codes are inadequate in their current form and makes recommendations for future revisions.