Several hundred employees of India's third largest IT major were sacked after a rigorous annual performance-appraisal. The company made no comment on the number of employees that have been asked to leave the organization.
The Indian IT industry already suffering a slowdown and increasing visa cost in the wake of immigration curbs in the US as well as a need for automation forces this rigorous exercise. And IT experts are said to report that the process shall follow in other IT companies as well.
The company is slated to come out with its fourth quarter as well as consolidated numbers on 25 April. Check stock quote here