Currently, layoffs are going on across the world. Its widespread impact has also been visible in India. Layoffs have hit the IT sector the hardest. Artificial Intelligence (AI) is hurting jobs. Clouds of doubt are hovering over the employees.
Meanwhile, the country’s leading IT company, Infosys, has given its staff a chance to sigh relief. Infosys CEO Salil Parekh has clarified the company’s stance on layoffs and jobs, saying there will be no retrenchment at Infosys.
Infosys Will Not Cut Jobs
Salil Parekh told CNBC TV 18 that Infosys is not planning to cut jobs. We are not going to fire anyone because of AI. Salil Parekh said that many companies in the industry have taken such strict steps. However, our thinking is clear that we will not do anything like this. Many companies in the IT industry have had many layoffs due to the adoption of AI. Recently, it was claimed that Infosys reduced the average payment of employees in the fourth quarter.
Development Of Technology Will Create New Jobs
Infosys CEO said that work on many technologies can be done simultaneously in big companies. He estimates that Infosys will continue developing generic AI skills in the coming years through hiring and training.
Due to this, Infosys will remain capable of meeting all types of demands of the world’s companies. He said that the development of technology will create new opportunities instead of eliminating jobs. Companies’ digital spending increases as the economic environment improves, and hiring also improves. Salil Parekh said that we have not fixed the hiring target. However, hiring will certainly continue at Infosys.
Infosys Performance Bonus Declined
Infosys recently issued performance bonuses to its employees. According to the Economic Times report, the average payment for this quarter has fallen by 60 percent compared to the previous quarter, which was 73 percent in the October-December quarter.
