INFOSYS REFUTES JOB LOSS REPORTS, TO HIRE 20,000 THIS FISCAL

The controversy over reported job losses in the Indian IT industry continues to grow. Despite repeated statements from industry body NASSCOM and the government that all is well in the IT sector, top IT firm Infosys has now come out in open to say that it will hiring this year…

NEW DELHI, JUNE 2, 2017: Amid reports of job losses in the India IT industry, Infosys Chief Operating Officer (COO) Pravin Rao on Friday met Electronics and IT Minister Ravi Shankar Prasad, and later made a statement to the media that all reports of job losses were “unwarranted”. He also said that Infosys will add more than 20,000 job in the current fiscal.

“I think all the news about job losses is really over stated. In Infosys, itself last year we recruited more than 20,000 people and this year we are likely to recruit similar numbers. In fact, in the first half itself, Q1 and Q2 FY18, we will be recruiting more than 10,000 people,” Mr. Rao said who met the minister along with Infosys Co-Chairman Ravi Venkatesan.

On reports of job losses, the COO of India’s second largest IT services firm said: “It’s regular performance based things that we do every year, and numbers (of retrenchment) are really 300-400 which is consistent with what we have seen every year. We are actually creating more jobs, adding more people and letting go minuscule amount of people purely from performance-related criteria.” He also said that IT industry was very optimistic about the future as a lot of transformation is happening which is driven by technology. “It is an opportunity for companies such as Infosys to create more jobs,” he added.

Speaking to reporters, Mr Prasad said India’s top two IT firms — TCS and Infosys have announced their hiring plans for the year. “Infosys COO has explained about the job opportunities, while the Tata Group Chairman has also said that TCS has employed 2.5 lakh people in the last three years, and this year too they are going to hire 20,000 more people. So where is the question of job loss…all reports on job losses are unwarranted,” he added.

Interestingly, Infosys Co-Founder NR Narayana Murthy has suggested that top executives should take salary cuts to financially support the company that could help in saving jobs. “We have gone through these troughs in business several times, there is no need for us to become extremely anxious. It is possible to protect jobs of youngsters if seniors make minor adjustments, like senior people taking salary cuts based on disposable income. This is what we did after the dot com crisis. Industry leaders need to identify new areas of opportunity, Mount training programs and give them time to train. Give youngsters enough time to pick up new skills and technologies,” he told a news channel when asked about report of job loss in IT industry.

Earlier, NASSCOM President R. Chandrashekhar has said: “Over 1.7 lakh jobs were added in last fiscal…in 2017-18 the industry will continue to be a net hirer adding 1.5 lakh new jobs with talent acquisition continuing across sectors, though the focus is shifting from scale to skill.”


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