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IT company Infosys to lay off its employees

IT company Infosys to lay off its employees

Bengaluru: Joining the IT services companies move like Wipro and Cognizant to lay off their employees on a mass scale as a part of its annual ‘performance appraisal’, Infosys has now made it official to let go of its employees for the same.

Earlier in April, country’s apex trade body ASSOCHAM had warned about IT industry’s growth prospect and said: “Aggravated by rising rupee leading to lower realizations for software exports, the Indian IT firms may be forced to displace work force. In that case, the chances of layoffs are real.”

The IT Industry has not seen the layoff process on a mass scale since 2008-2010 downturn. The Indian IT industry is effected due to Trump’s recent campaign for the H-1b visas, and US government’s move of strict visa norms.

A week later after the warning by country’s apex trade body about the effect on the IT industry, Wipro made it official about laying off its 600 employees.

Following which, the second IT company Cognizant, last week has let go off 6,000 of its employees along with 1,000 executives .

Infosys is supposedly laying off its 1,000 employees at various levels carrying its annual ‘performance appraisal’, though the number has not yet been declared officially by the company, Times of India today has been reported saying it.

An Infosys spokesperson in its emailed statement said, “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”, though he did not reveal the number of its employees the company has decided to let go off.

The employees at the mid and senior level professionals will be asked to leave with the whole process basing on the employees performance feedback for the whole year.

“We do this every year and the numbers could vary every performance cycle”, said a spokesperson at Infosys, adding that the assessment is based on individual goals and strategic priorities of the company.

The situation has worsened to a point where affected employees are approaching labour unions to file petitions for forcing its employees to sign the resignations.

As the growth in the $150-billion IT industry in India has slowed down it is believed that further more companies would do it and instead hire more Americans in the US, as reported in Dailyhunt.