Possible to protect job losses, says Infosys co-founder NR Narayana Murthy

While the Indian IT industry has been is in fear of massive layoffs in the coming future because of several IT majors firing chunks of their workforces, Infosys co-founder NR Narayana Murthy has said that it is possible to protect job losses.

In an exclusive interview given to TIMES NOW, Murthy said that even though techies don’t need to be very anxious, jobs can still be protected if senior executives take salary cuts and invest in training employees.

He also suggested a more humane approach while laying off employees, stating that employees’ happiness is vital for a stable corporation.

About the ongoing talks about IT employees union, he said that they aren’t needed as long as IT industry leaders are compassionate in their approach.

"We have gone through these troughs in business several times, there is no need for us to become extremely anxious. It is possible to protect jobs of youngsters if seniors make minor adjustments, like senior people taking salary cuts based on disposable income. This is what we did after the dot com crisis. Industry leaders need to identify new areas of opportunity, Mount training programs and give them time to train. Give youngsters enough time to pick up new skills and technologies."

When asked if the layoffs are a result of a poor business environment or changing technology, he said, "it is a combination of things. But there will be more and more job opportunities as long as we help youngsters re-skill themselves."