It seems tough times for IT and non-IT employees in the country. Many large IT and telecom companies are in the process of laying off employees. Here are seven companies that are preparing for layoffs. Here are eight companies that have announced job cuts this year:
US-based Cognizant appears set to cut at least 6,000 jobs. The company is said to be looking to cut roles that have become redundant due to automation impact on lower-end IT jobs. Cognizant had rolled out a voluntary separation program for directors, associate VPs and senior VPs. The company is offering them 6-9 months of salary. Around 1,000 executives are expected to be impacted by this. Top 10 Companies That Will Be Most Affected By H1-B Visa Rule
Indian IT giant Infosys too is likely to announce job cuts in the coming days. It will cut hundreds of mid and senior-level employees as it carries out its bi-annual performance review amid a challenging business environment. Nearly 1,000 employees in job level 6 and above are expected to be asked to leave. Infosys has said it will hire 10,000 Americans in the next two years and open four centers in the US as it seeks to counter moves by the US to tighten visa norms.
Wipro too has initiated moves to trim excess layers of managers and executives inside the company. Wipro is learned to have fired hundreds of employees as part of its annual performance appraisal. Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000. Wipro Lays Off Around 600 Employees Post Performance Appraisal
Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organization in February end. The Indian e-tailer declined to specify the exact number of employees affected by the decision. The company is said to be cutting 30% of its workforce.The move is expected to affect about 1,000 employees directly employed by the company.
Telecom major Aircel is all set to give pink slips to 700 staff ahead of the proposed merger with Reliance. It will cut around 10% of its pan-India staff strength in its first stage of manpower downsizing amid a huge wave of consolidation that is going to engulf India's telecommunication sector. Aircel has around 8,000 employees in India.
6. Tata Teleservices
Tata Teleservices along with the listed arm Tata Teleservices Ltd are present in the19 telecom circles in the country. Tata Teleservices has fired between 500 and 600 employees. The move is to tide over difficult times in the hyper-competitive telecom market. The lay-offs are across locations. Employees have been impacted by the lay offs in sales and other related functions. The severance package being offered to the employees impacted by the decision is one month's salary for every year of service.
7. Tech Mahindra
Tech Mahindra which ranks fifth in the tally of Indian IT firms by revenues has begun its annual performance appraisal process. The Mumbai-based company, however, did not specify the number of employees that could be asked to leave. Sources suggest that the number would run into hundreds. At the end of December 2016, the company had over 1.17 lakh employees. Tech Mahindra Lays Off Employees, After Wipro And Cognizant
IT service major Capgemini had reportedly asked over 35 VP, SVPs, Directors, and senior directors to leave in February and 200 people were asked to leave at one of its offices in Mumbai. According to reports, the Capgemini expects to recruit over 20,000 new team members in India this year.