INFOSYS IS LAYING OFF AROUND 10,000 EMPLOYEES FROM VARIOUS JOB LEVELS!

India's second-biggest outsourcer Infosys is laying off around 10,000 employees in the mid and senior level to reduce employee cost, if reports are to be believed. This comes a week after Cognizant announced that it is planning to release thousands of employees.

In the JL6 band (job level 6) - an internal job code for senior managers - the company might cut headcount by 10%, which accounts for 2,200 people. At the associate (JL3 and below) and middle (JL4 and 5 ) levels, the company may lay off 4,000 - 10,000 people.

Around 50 senior executives including vice-presidents, assistant vice-presidents, senior vice-presidents and executive vice-presidents may also be asked to go.

“As a high-performance organisation, involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level," the company was quoted as saying by Times Now.

Though Infosys had laid off people based on performance in the past, this time it's different and the numbers are comparatively high. "The focused and targeted way in which layoffs are happening now has not happened in recent years," Times Now mentioned as sources saying.