Bengaluru | IT industry veteran TV Mohandas Pai said on Monday that India’s information technology services companies could lay off 30,000 to 40,000 middle-level employees this year.
The former chief financial officer of IT company Infosys Ltd termed these job losses a five-year general occurrence with industry maturity.
Publicity is fine when companies grow rapidly, but when it slows down, people with high salaries will converge at a higher level, prompting companies to reset their pyramids from time to time, and shedding people.
This happens again and again every five years, said Pai, chairman of Aryan Capital and Manipal Global Education Services. No one deserves a high salary and a high-paying job, unless you perform right? You have to deliver value.
