After Wipro, Cognizant now Infosys is going to lay off hundreds of its senior and mid level employees.
Last week, cognizant announced voluntary separation program for its directors and VPs. The Company is also expected to lay off around 1000s of its employees.
Prior to this, Wipro said if revenue doesn’t improve, company might have to expel 10 percent of its employees.
The main reason behind this giant layoff trend is IT companies are facing pressure on business as well as regulatory fronts too.
Indian IT companies are witnessing major slow down due to which they are now laying off their employees on the basis of their performances.
In April, ASSOCHAM also warned about the IT industry growth.