Indian IT giant Infosys is laying off nearly 10 percent of its senior-level staff and between two to five percent of associate and mid-level employees, as per a report by The Times of India report.
Moneycontrol has not independently verified the report.
The company will be trimming workforce in the JL6 or job level 6 band, an internal code for senior managers and in the JL3 and JL4/JL5 bands -- the associate and middle levels, respectively.
It currently has about 30,092 JL6, JL7 and JL8 level employees and 86,558 employees at levels up to JL3, 1.1 lakh employees are at the JL4 and JL5 levels.
This means nearly 2,200 people in the JL6 band alone and between 4,000 to 10,000 people in JL3 and below and middle (JL4 and 5) levels will lose their jobs.
Two to five percent of the company's 971 senior executives with titles such as assistant vice presidents, vice presidents, etc, may be asked to leave, the report suggested. This translates to about 50 executives.
Infosys' move comes days after Cognizant announced it will cut around 7,000 mid to senior-level jobs in the coming quarters, as part of a restructuring process. This will be in addition to the 6,000 employees who will be impacted after it exits the content operation business, the US-based IT services company said.
While Infosys' latest move is reportedly aimed at flattening the organisation structure by cutting the perceived flab at the mid and senior level, the IT player is also on a hiring spree for freshers. Nearly 6,000 freshers were taken on board in the quarter ended September 2019 while it announced plans to bring in another 18,000 campus hires in FY20.
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