According to Times of India reports, after Cognizant, now Infosys is laying off over 10,000 middle and senior-level executives.
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.
TOI reports that Infosys will lay off 2-5% of the workforce at the associate (JL3 and below) and middle (JL4 and 5) levels. That translates to 4,000-10,000 people. Infosys has 86,558 employees and 1.1 lakh employees at the associate and middle bands respectively. About 2-5% of the 971 titleholders – senior executives in the ranks of assistant vice presidents, vice presidents, senior vice presidents, and executive vice presidents – will also be asked to go. That would mean up to 50 executives.
Infosys maintains that the layoffs are not indicative of mass trimmining. “As a high-performance organization, involuntary attrition is integral to the normal course of business and this should not be interpreted as any mass trimming across any level,” the company told TOI.
In the June quarter, COO Pravin Rao said that involuntary attrition was higher in that quarter as compared to the same quarter in the previous year. In the September quarter, the company had reported 19.4 percent attrition, out of which 18 percent was voluntary. The company saw 1.4 percent involuntary attrition in the July-September period.