The fear of layoff at Infosys is finally confirmed! Infosys Technologies the blue eyed company of Indian corporate community has finally shown the boot to 2,100 of its employees across the country.
Reportadly they indicated that they have done this after an annual performance appraisal exercise concluded mid-March. This is said by none other than Mohandas Pai, head of the company’s HR, that based on the performance, 2,100 employees had left (or asked to leave?) Infosys. The company had a total headcount of 1,03,078.
“The tolerance for non-performance has come down to zero,” Mohandas Pai, HR Head Infosys
- Appraisal conducted for 60,000 employees
- Bottom 3.5% of the people were either outplaced (soft jargon for laid off) or left
- Normally the bottom size is 5%
- Trainees (about 45,000) were not part of this exercise.
What needs to be seen is that taking clue from the leader - whether other IT companies in India will follow the suite?
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