No job cuts at Infosys but is it hiring? CEO Salil Parekh responds
No job cuts at Infosys but is it hiring? CEO Salil Parekh responds
Infosys is not looking at rightsizing, downsizing or any kind of job cuts as has happened with others in the industry due to GenAI, CEO Salil Parekh told CNBC-TV18 in an exclusive interaction on May 23.
When asked if Infosys was letting go of employees due to AI adoption, he said, “No, we are not doing any of that. In fact, others in the industry have done that. We've been very clear that that's not the approach.”
He explained that his view is that for large organisations, all technologies will coexist. “Over the next several years, we'll have more and more people joining us who become experts in generative AI and we will be serving the world's large organisations.”
For Infosys, the ongoing view is expansion over the years, both in terms of clients and number of employees, Parekh said.
Infosys CEO’s remark comes days after a former employee sparked a debate on social media with his LinkedIn post saying he was “a victim of silent layoff.”
Kumar Shubman, in a viral post, claimed he was let go from the company abruptly without a notice period or sufficient time to secure a new job. “Within [a] few hours my whole internal access [was] taken after forcefully telling me to resign,” he wrote. Reacting to this post some people offered guidance and suggested legal recourse against the company, while others doubted its authenticity, perceiving it as a ploy for attention.
However, Infosys has not particularly reacted to the Linkedin post on silent layoff claims. It must be noted that all companies have strict code of conducts and rules breaking which leads to terminations.
Is Infosys hiring?
Sharing his outlook for hiring in FY25, Paresh said, Infosys has an agile hiring model. “We see hiring come back as the economic environment improves and spending on digital transformation picks up… We have not shared an annual target on hiring, and will remain agile in hiring based on the economic environment.”
Earlier in October 2023, Infosys announced that it wouldn’t be hiring from campuses. The firm’s then Chief Financial Officer Nilanjan Roy had said that Infosys still had a significant fresher bench that is training on Gen AI, etc. and every quarter, the number of employees training in GenAI is going up. Therefore, the company is not looking to make fresh campus hires yet, he said.
Infosys has been witnessing a net decline in its headcount for the past five consecutive quarters. In the financial year 2023-24 alone, the firm saw a net reduction of nearly 26,000 employees.
However, in April, Infosys' new CFO Jayesh Sanghrajka said the firm was hiring more than half of its fresher workforce off campus and it is yet to decide its campus hiring target for the fiscal year 2025.