The IT industry of India is experiencing a bleak phase these days, as reports indicate that over 20,000 workers of this sector is going to be left jobless.
As per India Today, Infosys could lay off as many as 12,000 individuals while Cognizant is eliminating 7,000 from occupations during the upcoming few quarters.
Indian IT giant Infosys could lay off as many as 12,000 people.
US-based IT Cognizant will be laying off as many as 10,000 to 12,000 mid-to-senior-level employees in India.
As per accounts, Infosys will eliminate 10 percent of their work force, which comes to around 2,200 individuals, in Job Level 6 (JL6) i.e senior managers. The company further plans to lay off two to 5pc work force in associate (JL3 and under ) and centre (JL4 and 5) levels.
Only days ago, Cognizant CEO Brian Humphries advised that the company would be laying off as many as 10,000 to 12,000 workers that were mid-to-senior-level, together with all the Indian market bearing the major brunt as Indians constitute some 70pc of Cognizant workforce.
What’s more, Cognizant is also planning leaving out of its material moderation business for customers like Facebook. The move comes after the company found itself facing scrutiny because of its conditions of moderators and the impact on their mental health. “Exiting this area can impact an additional approximately 6,000 functions globally,” stated a company executive.