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<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

After corporate giant <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> showed the exit door to hundreds of freshers who failed to pass the tests, it is the turn of <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> to sack the probationers for failing to prove their credentials in the internal assessments. Infosys is allegedly letting go of hundreds of employees, who are at the fag end of their training and failed the internal assessment tests. The new recruits will have to undergo comprehensive training before they are added into various teams for full-fledged work. Senior employees in the IT Company stated on condition of anonymity that though there is economic slowdown and recession, the companies are focusing more on quality and productivity. Therefore, average talent is not preferred under the circumstances. "The corona pandemic in the last two years has affected the education, quality of students and their skillsets. There is a clear lack regarding teaching and the honing of skills. Many graduates, who passed out in the last two years, are not in a position to prove themselves and there is extreme pressure on the trainees," they explain. Sources explained that the freshers are provided with two chances to clear their assessment. If they fail, they will not be onboarded. However, the freshers who have been sacked from Infosys maintained that members of the teams which did not get projects are being asked to go and those with projects are not touched. Tech industry insiders are of the opinion that the phase is going to last for a while and pressure on industry will be there till 2024. The freshers won't enjoy the halcyon days, when the job market was hot during the pandemic. "It is evident that the global economic crisis is real as we can see big companies such as <keyword id="6355629" type="General" weightage="50" keywordseo="google" source="Orion">Google</keyword> and Amazon laying off people. It is going to last for a while. So, I believe that the crisis will remain in the entire 2023 and even probably the first quarter of 2024. It will eventually subside and we all will come back to normalcy. However, it is going to take some time," stated Sumanth Prabhu, Co-Founder and CEO, Ulipsu. "My suggestion for people looking for jobs or the ones who are employed is that getting a job now is precious or they should hold onto the job that they currently have. It's a good thing that the employees are getting retained and valued. If they are valued, they should work hard to ensure that the value is reciprocated," he said. "Also, it is the right time for businesses to cut down costs and be frugal. The global economic crisis is something that teaches all companies that we should not hire unnecessarily and should not commit to costs that are unnecessary or irrelevant. Companies have to lay off during these kinds of crises. So, it is better to hire wisely than to hire illogically and fire people," Sumanth Prabhu explained. IT giant Wipro has laid off more than 400 fresher employees for poor performance in internal assessment tests in January. The company had issued termination letters to all the employees and stated that despite the adequate training, the candidates have failed to perform. The termination letter maintained that the employees are liable to pay Rs 75,000 of training cost which company has spent on them. But, the amount is being waived off. Commenting on the development, Wipro had clarified that, Wipro takes pride in holding itself to the highest standards. As per the standards the aim is set of all. From every entry level employee it is expected to have a certain level of proficiency in their designated area of work. The evaluation process includes to align employees with the requirements of clients and the business objectives of the organisation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/now-find-ev-charging-stations-in-google-maps-near-you/articleshow/97759525.cms">Now find EV charging stations in Google Maps near you</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/now-find-ev-charging-stations-in-google-maps-near-you/articleshow/97759525.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-unleashes-ai-powered-updates-to-revamp-user-experience-on-maps-search-and-translate/articleshow/97761551.cms">Google unleashes AI-powered updates to revamp user experience on Maps, Search and Translate</a>

After Wipro, Infosys showing exit doors to freshers in Bengaluru say sources

New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

Indian IT firm <a href="http://www.businessinsider.in/searchresult.cms?query=tech+mahindra&amp;sortorder=effectivedate">Tech Mahindra</a> may ask hundreds of its non-performing <a href="http://www.businessinsider.in/searchresult.cms?query=lay-offs&amp;sortorder=effectivedate">employees to leave</a>. <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> will terminate its bottom performers in the appraisal cycle. Tech Mahindra, which did not confirm how many employees it is going to terminate, has begun its annual performance <a href="http://www.businessinsider.in/searchresult.cms?query=appraisals&amp;sortorder=effectivedate">appraisal</a> process. "We have a process of weeding out bottom performers every year and this year is no different," Tech Mahindra told PTI. As per reports, the number would run into hundreds. At the end of December 2016, the company had over 1.17 lakh employees. Tech Mahindra will join <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, Infosys and <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>, who are apparently terminating their employees based on performance and hiring in the US. The Indian IT sector is already facing multiple challenges, especially due to H1-B visa norms. While the companies have termed these layoffs as part of normal business decisions, many believe these are directed more towards controlling costs. Last week, the US-based Cognizant had rolled out a voluntary separation programme for directors, associate VPs and senior VPs, offering them 6-9 months of salary. Wipro, too, is learnt to have asked about 600 employees to leave as part of its annual "performance appraisal" even as speculations were that the number could go as high as 2,000.

Tech Mahindra may also lay-off hundreds of employees. Here’s why

<ul><li>Earnings season will begin next week with the results of major IT companies -- TCS on April 11 and Infosys on April 13.</li><li>Digital transformation deals continue to boost IT sector’s growth along with rupee depreciation in the recent months benefiting the sector.</li><li>However, profit margins of these companies are expected to be under pressure because of increase in employee salaries and record hiring.</li></ul>The March quarter earnings season will begin next week with the results of major information technology (IT) companies such as Tata Consultancy Services (TCS) on April 11 and Infosys on April 13. Most analysts believe March is a seasonally weak quarter for IT companies and they expect moderate earnings growth amid margin pressures. The profit margins of IT companies are expected to be under pressure because of increase in employee salaries and record hiring. “Sequential growth for Indian IT will be moderate in March 2022 quarter and in line with historical seasonal trends. Margins will remain under pressure resulting from elevated wage increases, onsite as well as offshore,” said Kotak Institutional Equities. The entire IT sector is struggling to retain employees including top five companies. In fact, in the last quarter <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">more employees left Tech Mahindra </a>than at TCS and Wipro. The report added that talent shortage continues even as the industry has added a record number of freshers. High cost to backfill attrition and retain talent will seep into margins across companies. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth in Jan-Mar* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr></tbody></table>Source: Emkay Research*Revenue growth in constant currency on a sequential basis Meanwhile, the growth momentum may sustain due to healthy broad-based demand as firms across the world have increased spending on new technologies. “The demand environment is robust at present. There could be moderate risk to demand as fallout of the Russia-Ukraine imbroglio starts impacting key economies. Nonetheless, we believe double-digit growth is feasible for many,” said a report by Kotak Institutional Equities. Higher employee cost and shortage of skilled talent will remain the key challenges in the short term for IT companies. Investors will keenly monitor the management commentary on any impact on technology spending from higher energy prices, inflation and potential economic slowdown, demand trends in key verticals such as banking, financial services and insurance (BFSI), retail, manufacturing and communications, and the attrition rates. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Results date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 11 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 29 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 21 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-reportedly-lays-off-1000-employees-from-sales-business-and-other-functions/articleshow/90709336.cms">Unacademy reportedly lays off 1000 employees from sales, business and other functions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-takes-a-jibe-at-ashneer-grover-says-no-money-left-to-pay-salaries-since-grover-stole-it-all/articleshow/90706030.cms">BharatPe CEO takes a jibe at Ashneer Grover, says no money left to pay salaries since Grover stole it all</a>

Profit margins of IT companies must be under pressure for January-March quarter due to record hiring and salary hikes

<ul><li>Wipro — the fourth largest IT services company in India — is planning to hire technical sales professionals with knowledge in cloud, cyber security and engineering services. </li><li>The company is looking for people who have prior experience in multiple service line deals worth over $10 million (nearly ₹699 million). </li><li>According to an ET report, the move is aimed at securing more and larger traditional deals.</li></ul>In the backdrop of the ongoing job crisis in India, the IT sector hiring appears to be rebounding, <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">growing</a> in double digits over the past few months. Wipro — the fourth largest IT services company in India — is planning to boost its hiring efforts to <a href="https://economictimes.indiatimes.com/tech/ites/wipro-to-scale-up-sales-team-to-win-deals-and-influence-growth/articleshow/69243501.cms">expand the sales workforce</a> across geographies, ET reported. The IT major is reportedly looking for technical sales professionals in specific areas including cloud, engineering services and cyber security services that will cater to the markets in Australia, the US and the Middle East. “Wipro is…bringing in new blood and has tasked recruitment firms to look at bid and account managers,” ET reported. According to the jobs that Wipro advertised on its <a href="https://careers.wipro.com/">portal</a>, the company is looking for people who have a prior experience in multiple service line deals worth over $10 million (nearly ₹699 million). Earlier in January, the company <a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms">reportedly doubled its campus hiring</a> along with salary hikes for graduates with digital expertise such as in big data and analytics. Wipro had been planning to hire fresh talent that can be trained with advanced digital skills. According to an ET report, the move is aimed at securing more traditional deals. The initiative comes as the IT company recovers from underperformance in the past years, fetching higher profits in the recent quarter. The IT sector faced a challenging time back in 2017, laying off nearly 56,000 professionals as automation took over the technical job market. According to the <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">World Economic Forum (WEF)</a>, the growing demand for digitisation will take away nearly 75 million jobs by 2022. According to Peter Bendor-Samuel, chief executive officer of IT consultancy Everest Research, “Wipro, has clearly struggled when compared against its peer companies when it comes to sales. Investment in its sales force seems to be one of several steps which make sense,” ET reported. See also: <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">Hiring by Indian IT companies has grown 12 months in a row, up over three-fold</a> <a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms">Indian IT major Wipro is on a hiring spree, plans to double campus offers and hike pay</a>

Indian IT major Wipro is hiring ‘new blood’ to expand its sales workforce across geographies

The recent lay-offs at firms such as Wipro, Cognizant, Tech Mahindra, etc sent ripples across the IT sector. However, <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> HR Head Krishnamurthy Shankar said the job cuts were blown out of proportion. Shankar said employees have to keep re-inventing and deliver high-quality performance rate. At Infosys, Shankar told ET, attrition is at 13.8 per cent and involuntary attrition, meaning those who are asked to leave for performance and value mismatches, is at 1.3 per cent. Infosys plans to hire 24, 000 employees in India, half of which will be freshers. Also, the company is encouraging managers to bring disruptions and changes in the work front. Infosys has come up with MaQ (manager quotient), which utilises crowdsourced feedback and analytics to personalise the learning journey. The programme uses data culled from company surveys through the year, exit interviews and employee feedback to allow managers to see how they are doing on certain core competencies. This is not the first time when Infosys has taken this kind of initiative. Last year, Infosys launched Compass, a digital platform that allows employees to mobilise available opportunities on career growth, learning and networks. Infosys’ Zero Distance programme is already doing well which aims at innovation in all projects the company is running.

Lay-offs in IT sector have been blown out of proportion: Infosys HR head

As media reports surfaced that <a href="http://www.businessinsider.in/searchresult.cms?query=IBM&amp;sortorder=effectivedate">IBM</a> may fire at least 5,000 employees over the next few quarters, the company dismissed the reports saying they were factually incorrect. The reports of <keyword id="10875" type="CITY" weightage="100" keywordseo="IBM">IBM</keyword> <a href="http://www.businessinsider.in/searchresult.cms?query=lay-offs&amp;sortorder=effectivedate">laying-off</a> employees come in the wake of <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=wipro&amp;sortorder=effectivedate">Wipro</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=cognizant&amp;sortorder=effectivedate">Cognizant</a> letting go off employees amidst slowdown in the IT sector. IBM said it was continuing to re-skill and re-balance its employee workforce. "This is factually incorrect. We are not going to comment further on rumours and speculation. Re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cognitive and cloud technologies for clients around the world,” a spokesperson for IBM told ET. ET quotes a source saying IBM had handed over pink slips to 200 employees in a business unit last year. IBM employees over 1,50,000 people in India currently.

IBM rubbishes reports of firing 5000 employees; says “re-skilling”, “re-balancing” workforce

As more and more IT companies are looking to hire in the US, they are downsizing staff in India, inviting wrath of employees, who are now approaching labour unions. After reports <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> laying-off as many as 6,000 employees in India surfaced, it sent jitters to the employees. Cognizant has also come up with a VRS programmes, asking top level employees to take it up. Apart from Cognizant, <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword>, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and Capgemini are also preparing for lay-offs. As per reports, Infosys may ask around 1,000 employees in job level 6, which comprises group project managers, project managers, senior architects and higher levels, to leave. Even Wipro CEO Abid Ali Neemuchwala, in an internal conference call, said nearly 10% of employees would be let go this year if the revenues did not grow. In Wipro, the product engineering team may face the heat. Various reports suggested even Capgemini will sack 9,000 people, or nearly 5% of its workforce. However, the company said they don't have any lay-off plans. "We expect to recruit more than 20,000 new team members in India this year. Each year our employees are evaluated based on strict performance criteria in an objective process, consistent with industry norms, to ensure we are aligned with our customer needs, business priorities, and the overall industry evolution. This leads naturally to a varying number of employees transitioning out of the organization in any given year. We are highly committed to continuous talent development and building the capabilities of our employees to help them stay relevant. We continue to accelerate our training programs in 2017 with over 2,000 India employees having already undertaken up skilling and emerging technologies training alone," Capgemini said in a statement. Peter Bendor Samuel, CEO of IT consulting firm Everest Group, told Times of India the industry growth has slowed and the "arbitrage first" segment (traditional IT services) is in secular decline. "When this is added to the pyramid factory model, which requires new freshers to be brought in every year to keep cost low, it results in an excess of more experienced employees," he said.

Worsening situation? Infosys, Wipro to cut jobs; middle-level employees to be worst hit

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

<ul><li><keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword>’s March quarter net profit for March quarter grew 3% on year to $580 million.</li><li>Meanwhile, its revenue declined 0.3% on year to $4.8 billion during the quarter.</li><li>Adding to the woes, Cognizant says full year guidance of 2023 is expected to be $19.2 - $19.6 billion, which would mean a decline of 1.2%.</li><li>Cognizant reported an operating margin of 14.6% for March quarter, which is lower than Indian IT giants TCS, Infosys, HCL Technologies and Tech Mahindra.</li></ul>The trend of weak quarterly numbers continued for IT services companies and the latest one to disappoint the markets is Cognizant. The company also announced that it would layoff 3500 employees as it sees revenues slowing further in 2023. The Nasdaq-listed company’s March quarter net profit grew 3% on year to $580 million. Meanwhile, its revenue declined 0.3% on year to $4.8 billion during the quarter. The company follows a January to December accounting year. Adding to the woes, Cognizant says full year guidance of 2023 is expected to be $19.2 - $19.6 billion, which would mean a decline of 1.2%. The next quarter revenue is expected to be at $4.83 - $4.88 billion, showing a decline of 0.6% to 1.6%, or a decline of 1.0% to flat in constant currency. Cognizant reported an operating margin of 14.6% for March quarter, which is lower than Indian IT giants TCS, Infosys, HCL Technologies and Tech Mahindra. For the full year 2023, the company has guided for adjusted operating margin to be in the range of 14.2%-14.7%. Following the peer IT major’s mixed bag of earnings which expects a decline in 2023 revenues, shares of most Indian IT companies were trading lower. Indian companies monitor Cognizant’s earnings as the company is listed in the US but a majority of its operations are based in India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.98% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTIMindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.09% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.03% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE Moreover, the company informed investors that it will be laying off 3,500 employees and also reduce office space as part of the cost cutting measures. It attributed the move to its NextGen program through which it expects to simplify its operating model and optimise corporate functions. “In the second quarter of 2023, we initiated the NextGen program aimed at simplifying our operating model, optimizing corporate functions and consolidating and realigning office space to reflect the post-pandemic hybrid work environment. Our drive for simplification will include operating with fewer layers in an effort to enhance agility and enable faster decision making,” the company said in a statement. Cognizant has a total headcount of 3.51 lakh in the March quarter, which is a decrease of 3,800 from the previous quarter. Its voluntary attrition rate declined to 23% in Q1 FY23 from 30% in Q1 FY22. "Our accelerated bookings growth in the quarter, which included several large deals and a healthy mix of new and expansion work, reflects the strengths of our services, our brand, and the longstanding relationships we have with our clients. I am also encouraged by the continuing reduction in our voluntary attrition," said Ravi Kumar S, CEO at Cognizant. “Having spent more than three months assessing the business, meeting with over a hundred clients and thousands of employees, I firmly believe Cognizant has a strong foundation for accelerating growth," said Kumar S in a statement. This was the first quarter for new CEO Ravi Kumar S who assumed control on January 12 following the "involuntary termination" of former CEO Brian Humphries at a time when the industry is facing several challenges. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hiring-in-it-companies-like-tcs-wipro-infosys-hcl-tech-plunges-by-66-in-fy23/articleshow/99960690.cms">Hiring in the IT sector plunges by 66% in FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titan-q4-net-profit-rises-50-to-734-crore-as-wedding-segment-makes-a-comeback/articleshow/99964029.cms">Titan Q4 net profit rises 50% to ₹734 crore as wedding segment makes a comeback</a>

You Searched For "wipro lay off" and got 11 results

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

Divyanshi Sharma

After Wipro, Infosys showing exit doors to freshers in Bengaluru say sources

IANS

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

Tech Mahindra may also lay-off hundreds of employees. Here’s why

BI India Bureau

Profit margins of IT companies must be under pressure for January-March quarter due to record hiring and salary hikes

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Indian IT major Wipro is hiring ‘new blood’ to expand its sales workforce across geographies

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Lay-offs in IT sector have been blown out of proportion: Infosys HR head

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IBM rubbishes reports of firing 5000 employees; says “re-skilling”, “re-balancing” workforce

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Worsening situation? Infosys, Wipro to cut jobs; middle-level employees to be worst hit

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Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

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