After IT giants Cognizant, Infosys, and Wipro, Tech Mahindra seems to be the latest company to plan employee layoffs. The firm may hand out pink slips to about 2,000 employees for poor performance.
While it was said that Cognizant and Infosys were laying off employees in India to hire workers in the US, Tech Mahindra is reportedly letting its workers go on the basis of performance. “We have a process of weeding out bottom performers every year and this year is no different,” the company told the Times of India.
The IT giant is India’s fifth largest IT services provider and has about 117,095 employees across 90 countries. Laying off 1,500 employees makes up for about 1.2 percent of its workforce. Though the company has said that the layoff would be on the basis of the ongoing appraisal and the employees’ performance in the past years, it is yet to be revealed whether the decision will affect workers across the board or only at certain levels.
read more- IB Times