JOIN USAs Indian IT services companies are going through bad patch, Infosys is also likely to hand over pink slips to hundreds of mid- and senior-level employees as it carries out bi-annual performance review amid a challenging business environment.
Interestingly, the move comes at a time Infosys announced its plan to hire 10,000 Americans in the next two years and open four centres in the US as it seeks to counter moves by the US to tighten visa norms. Also, the development comes at a time when its peers Wipro and Cognizant are taking similar measures to control costs.
“Our performance management process provides for a bi- annual assessment of performance... A continued low feedback on performance could lead to certain performance actions, including separation of an individual and this is done only after feedback,” Infosys spokesperson said in an emailed statement.
The spokesperson did not divulge the number of people to be impacted, although reports peg the number to be in hundreds. “We do this every year and the numbers could vary every performance cycle,” the spokesperson said, adding that the assessment is based on individual goals and strategic priorities of the company.
Last week, the US-based Cognizant had rolled out a voluntary separation programme for directors, associate VPs and senior VPs, offering them six to nine months of salary.