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No plans for job cuts amid industry layoffs, Infosys CEO

Infosys CEO Salil Parekh said that the company has no plans to downsize or cut jobs, a notable stance in an industry witnessing significant layoffs due to advancements in generative AI (GenAI). Parekh also detailed the hiring plans for Infosys. In addition to this, a fresh report claimed that Infosys has slashed the average payout of employees in Q4. Here is everything we know.

Addressing concerns about potential job cuts driven by AI integration, Parekh stated that the company has no plans to fire employees.

“No, we are not doing any of that. In fact, others in the industry have done that. We’ve been very clear that that’s not the approach.” This assertion distinguishes Infosys from other tech firms that have opted for workforce reductions as they incorporate AI technologies.

Parekh elaborated on his vision for the coexistence of various technologies within large organisations. He anticipates that over the coming years, Infosys will continue to hire and develop expertise in generative AI, positioning the company to better serve global enterprises.

This perspective is rooted in the belief that technological advancements will create new opportunities rather than displace existing jobs. While the company has not set a specific annual hiring target, it plans to remain agile, adjusting recruitment efforts in response to economic conditions.

“We see hiring come back as the economic environment improves and spending on digital transformation picks upâ€æ We have not shared an annual target on hiring, and will remain agile in hiring based on the economic environment.”

In line with its growth strategy, Infosys has recently released performance bonuses for its employees. An internal email seen by the Economic Times revealed that employees at band six and below received a quarterly performance bonus for the January-March period. However, the average payout for this quarter dropped to 60 percent, compared to the previous quarter where payouts were 73 percent for October-December. India Today

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