Infosys dismisses executives of middle and upper level
BENGALURU Infosys , I like it Competent , is firing people, and similarly, a movement aimed at reducing part of the perceived fat, particularly in the middle and the top, and flattening the organization.
The company is letting go of 10% of the workforce, or around 2,200 people, in the JL6 band (job level 6), an internal job code for senior managers. Infosys has 30,092 employees in the JL6, JL7 and JL8 bands. Sources told TOI that it will lay off 2-5% of the workforce at the associate (JL3 and below) and middle (JL4 and 5) levels. That translates into 4,000-10,000 people. Infosys has 86,558 employees and 1.1 lakh employees at the associate and middle bands respectively.
They will also be asked to attend between 2 and 5% of the 971 title holders, senior executives in the ranks of assistant vice presidents, vice presidents, senior vice presidents and executive vice presidents. That would mean up to 50 executives.
When TOI contacted Infosys on the move, the company said, As a high-performance organization, involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level.
The sources said that the focused and focused way in which layoffs are happening now has not happened in recent years. In the past, the company has let people go based on performance. But this time is different and the numbers seem higher.
Phil Fersht, CEO of HfS Research, based in the United States, said some industry-wide adjustments are occurring as a result of customers needing more complex skills and less staffing being needed to provide traditional support. services with advances in automation.
Infosys has traditionally shied away from calling out layoffs as part of its management commentary. But in the last two quarters, the company has been talking about it.