Infosys Will Fire 12,000 Employees To Save Money; Mid, Senior Executives Will Be Targeted
After Cognizant, it is the turn of Infosys to announce a mass-level termination. As per reports coming in, Infosys has confirmed that 12,000+ employees will be fired.
Severely hit will be mid and senior level executives.
As with most of the layoffs, Infosys is firing employees to ‘cut the flab’, and reduce high paying, more experienced employees to save money.
Here are the details..
Infosys Layoffs: Who Will Be Fired?
As per a report published by the Times of India, most of the layoffs will happen in the mid and senior associate level.
Overall, there are 228,123 employees in Infosys.
Out of this, 86,558 are in the JL3 and below category, which are normally called Executives in the IT industry, whereas 110,502 employees are in the JL4 and JL5 category, which are usually classified as middle level executives.
As per the reports, 2-5% from these two categories of employees will be fired, which translates to 4000 to 10,000 employees.
In the JL6 and above band, which are called Senior Executives, there are 30,092 employees.
In this category, 2200 employees will be asked to fire.
Title holders, such as Assistant VPs, Senior VPs etc will also be fired. There are 971 title holders, out of which, 50 will be asked to leave.
Infosys Confirms These Terminations, Refuse To Call It Mass Layoffs
Infosys has confirmed that these layoffs are indeed happening.
But instead of mass layoffs, the IT behemoth is terming them as ‘involuntary attrition’.
The company stated, “As a high-performance organisation, involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level.”
As per experts, Infosys was not known to publicly announce terminations, and even if there were layoffs, they were based on performance. But this massive announcement signifies a big change in Infosys’ corporate and HR strategy.
We have already reported that Cognizant is firing total of 16,000 employees, out of which, 7000 will be fired as Facebook has ended their contract of content moderation.
We will keep you updated, as more details come in.