Infosys is laying off 10 percent of the staff, which translates 2,200 people. Around 50 of the 971 title holders, including assistant vice presidents, vice presidents, senior vice presidents, and executive vice presidents are also likely to be handed pink slips. An English daily reported that junior and middle-level associates could also be eliminated by 2 to 5 percent.
Infosys shares dropped as much as 2.5% in early trade on Tuesday i.e. 5 November, after the news came out. Reports emerged last week that Cognizant would also ask 7,000 of its core employees to exit the company by mid-2020, while another 6,000 roles will be fired as the company exists its content moderation business.
Infosys shares dropped as much as 2.5% in early trade on Tuesday i.e. 5 November, after the news came out. Reports emerged last week that Cognizant would also ask 7,000 of its core employees to exit the company by mid-2020, while another 6,000 roles will be fired as the company exists its content moderation business.