ISLAMABAD – The IT industry of India is undergoing a bleak phase thesedays, as reports suggest that over 20,000 employees of the industry will beleft jobless.
The development comes after two giants of Indian IT market, the Indianmultinational Infosys and US-based Cognizant, announced massive cuts instaff in a bid to cut down and restructure their organizations.
As per *India Today*, Infosys could lay off as many as 12,000 people whileCognizant is removing 7,000 from jobs over the next few quarters.
As per reports, Infosys will remove 10 percent of the workforce, whichcomes to around 2,200 people, in Job Level 6 (JL6) i.e senior managers. Thecompany further plans to lay off 2 to 5pc workforce in associate (JL3 andbelow) and middle (JL4 and 5) levels. This translates to around 4,000 to10,000 people.
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Just days ago, Cognizant CEO Brian Humphries informed that the companywould be laying off as many as 10,000 to 12,000 mid-to-senior-levelemployees, with the Indian market bearing the major brunt as Indiansconstitute some 70pc of Cognizant workforce.
