IT’s trouble! Infosys to fire 10,000 employees

BENGALURU: In a drastic move to cut costs to deal with the double whammy of low margins and slow growth, IT services major Infosys plans to fire 10,000 employees. This will impact workforce across all levels in the programming and engineering divisions, sources privy to the development told TNIE.

According to analysts tracking the company, H-1B visa denials for recruits from India and high costs of hiring local employees in the US have also led to the situation.

Infosys has hired over 5,000 locals in the US in the past year to strengthen its digital and consulting services for global companies.