Wednesday, Jul 30, 2014Wednesday, Jul 30, 2014
News
 

India's Infosys denies reports of 5,000 job cuts

Published on Jan 4, 2013 7:38 PM
 

MUMBAI (AFP) - Indian software outsourcing giant Infosys said Friday it was weeding out under-performing staff and would be asking some to leave, but denied a media report saying 5,000 workers were to be sacked.

The Economic Times reported on Friday morning that the firm was set to ask about three to four percent of its 151,000-strong workforce to leave immediately, citing people familiar with the development.

The business daily said the Bangalore-based firm, which lags in growth to rivals TCS and Wipro, wants to reduce costs while moving towards a more aggressive sales strategy.

"The people who are being let go are part of a performance-basis evaluation. It has nothing to do with lay-offs. It happens each year," Infosys spokeswoman Sarah Vanita Gideon told AFP.

 
If you are not a subscriber, you can get instant, unlimited access here