Infosys is laying off some of its top and mid level management, in order to flatten the organisation. The company is letting go of 10 percent of the workforce, around 2,200 people in the JL 6 (Job Level 6) band, a code for senior level employees, reports said on Tuesday, 5 November.
According to the report, the company has 30,092 employees in the JL6, JL7 and JL8 bands.
Speaking to The Quint, an employee working in Infosys' Hyderabad office said, "Employees have been talking about the prospective layoffs ever since the news broke. People are worried about the situation. There is some panic among the employees already, especially since the overall job market is not good. If the same phenomenon starts occurring in the IT sector as well, it will definitely be extremely worrisome, given that Infosys is one of the biggest companies in the sector.”
“However, there has been no official announcement that has been made to the staff yet.”Infosys Employee
The company, when asked about the layoffs, said, "involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level."
The employee who reported the company move is in Job Level 5, where the layoff rate is reportedly expected to be 2-5%.
TOI cited sources as saying that the company will lay off 2-5 percent of its workforce at the associate and middle levels, which translates into 4,000 to 10,000 people. The company has has 86,558 employees and 1.1 lakh employees at the associate and middle bands.
The company has in the past shied away from calling layoffs as a part of its management commentary. However, in the last two quarters, the company has been talking about it.
(With inputs from The Times of India)
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