IT companies to shed 5-10% of mid-level workforce: Ex-CFO of Infosys

BENGALURU: Information technology companies in the country have no choice but to lay off at least five to ten per cent of their middle-level staff to ward off margin pressure and become more agile, IT industry veteran V Balakrishnan said on Thursday.

The middle-layer accounts for about 20-30 per cent of the total workforce of IT companies.