After Wipro And Cognizant, Infosys To Layoff Employees

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Infosys could hand out pink slips to hundreds of mid- and senior-level employees as it carries out bi-annual performance review amid a challenging business environment. The development comes at a time when its peers Wipro and Cognizant are taking similar measures to control costs.

    Interestingly, Infosys has said it will hire 10,000 Americans in the next two years and open four centres in the US as it seeks to counter moves by the US to tighten visa norms. How Infosys's US Hiring Move Impacts Indian Techies?

    "Our performance management process provides for a bi-annual assessment of performance... A continued low feedback on performance could lead to certain performance actions, including separation of an individual and this is done only after feedback," Infosys spokesperson said in an emailed statement to PTI

    After Wipro And Cognizant, Infosys To Layoff Employees

    The spokesperson did not divulge the number of people to be impacted, although reports peg the number to be in hundreds.

    "We do this every year, and the numbers could vary every performance cycle," the spokesperson said, adding that the assessment is based on individual goals and strategic priorities of the company. Top 10 Companies That Will Be Most Affected By H1-B Visa Rule

    Last week, the US-based Cognizant had rolled out a voluntary separation programme for directors, associate VPs and senior VPs, offering them 6-9 months of salary. Wipro, too, is learned to have asked about 600 employees to leave as part of its annual "performance appraisal" even as speculations were that the number could go as high as 2,000.

    IT companies have been one of the largest recruiters in the country. However, they have warned that increasing automation of processes would lead to the reduction in hiring in coming years.

    While the outsourcing model has placed India on the global map, increasing scrutiny and rising protectionist sentiment are also posing challenges for the $140 billion Indian IT industry.

    Companies are now working towards reducing their dependence on work visas and instead of hiring more locals to ensure continuity of work for clients, even though it impacts their margins.

    Goodreturns.in 

    Read more about: infosys
    Story first published: Wednesday, May 10, 2017, 13:50 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more