EPAM sacks around 100 Indian employees, revokes offer letter of others

IT services provider EPAM Systems has sacked around 100 Indian employees, mostly bench people who were not tagged to any specific project, and has revoked offer letters to others who were about to join the NYSE-listed firm over the next few months, reported The Economic Times on Monday.

At least 100 employees, across testing, .Net, DevOps, and Java domains in both firms — EPAM Systems and EPAM Anywhere — have been asked to resign, sources told ET.

According to the ET report, the company’s human resources told the employees, who have been asked to quit, that the firm over-hired, misjudging the demand forecast. The HR managers added that they can’t fund any projects for onboarding in the near future.