Showing posts with label Tech Mahindra Lays Off. Show all posts
Showing posts with label Tech Mahindra Lays Off. Show all posts

After Wipro And Cognizant, Tech Mahindra Lays Off 1,000 Employees



Tech Mahindra, India's fifth largest IT and software services firm, has laid off about 1,000 employees this month as part of their annual performance appraisal process, sources told NDTV Profit. The move closely followed similar downsizing by IT majors Wipro and Cognizant, as automation and increased protectionist policies by the US have forced the Indian firms to trim work force. This week Infosys, India's second largest IT company, could also hand out pink slips to hundreds of mid- and senior-level employees as it carries out bi-annual performance review amid a challenging business environment.



Many IT companies are struggling with lower growth amid big changes in the technology landscape which is fast shifting towards new digital services. The tightening of the visa regime in many countries would also impact the IT companies' margin, say analysts.

Last week, the US-based Cognizant had rolled out a voluntary separation programme for directors, associate VPs and senior VPs, offering them 6-9 months of salary. Wipro, too, is learnt to have asked about 600 employees to leave as part of its annual "performance appraisal"