Tech Mahindra is set to let go of about 1,500 employees, or close to 1.2% of its workforce, following in the footsteps of bigger rivals such as Infosys, Wipro and Cognizant, all of which are in the process of doing big layoffs as protectionist policies in the US and new technologies shake up the $150-billion Indian IT sector.
Tech Mahindra, the country’s fifth largest IT services provider, had 117,095 employees across 90 countries till the third quarter, which ended December 31. The company, which will announce its fourth quarter results this month, has a majority of its employees in India.
via Tech Mahindra set to lay off about 1,500 employees – Times of India