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After Wipro And Cognizant, Tech Mahindra Lays Off 1,000 Employees

Source |Profit.ndtv.com|  BY:Aditya Kondalamahanty

Tech Mahindra, India’s fifth largest IT and software services firm, has laid off about 1,000 employees this month as part of their annual performance appraisal process, sources told NDTV Profit. The move closely followed similar downsizing by IT majors Wipro and Cognizant, as automation and increased protectionist policies by the US have forced the Indian firms to trim work force. This week Infosys, India’s second largest IT company, could also hand out pink slips to hundreds of mid- and senior-level employees as it carries out bi-annual performance review amid a challenging business environment.

In an emailed statement to NDTV Profit, Tech Mahindra said “We have a process of weeding out bottom performers every year and this year is no different.”

Many IT companies are struggling with lower growth amid big changes in the technology landscape which is fast shifting towards new digital services. The tightening of the visa regime in many countries would also impact the IT companies’ margin, say analysts.

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