An Indian multinational technology company that provides engineering research and development services, L&T Technology has sacked 200 employees.
According to TOI, the company spokesperson said, “We conduct annual performance reviews as a standard process to assess the capabilities of our workforce every year and act appropriately based on skill sets and performance.”
“This is essential for the maintenance of our high standards of service delivery”, the spokesperson further said.
The layoffs are affecting the employees due to performance reviews and additionally, the company is also reducing the overlapping positions. However, Sightsin Plus did not reach out to L&T Technology to verify the information of layoffs.
Earlier in September, it was reported that the company was planning to hire 2,000 people.
Previously, CEO Amit Chadha said, “We have got close to a 200-member team right now working with OEMs and tier-one companies in this area and we planned to take this to more than about 2,000 people before the end of the year.”
“Growing demand for software-defined vehicles have accelerated hiring plans of Larsen and Toubro Technology Services (LTTS), with the company planning to hire an additional 2,000 people in the ongoing fiscal”, he added.
Similarly, recently PhysicsWallah (PW) has sacked nearly 120 employees due to a performance review.
Satish Khengre, Chief Human Resources Officer at PhysicsWallah said, “At PW, we regularly assess performance through mid-term and end-term cycles.”
“For the cycle ending in October, less than 0.8 percent of our workforce, ranging from 70 to 120 individuals with performance concerns—may be asked to transition”, Satish Khengre added.
“Our primary focus remains on fostering a dynamic, high-performing team. We plan to hire an additional 1,000 employees in the next six months, reinforcing our commitment to growth”, Satish Khengre said.