Layoffs due to AI and modernization

Infosys during a recent AGM announced it was "releasing 11,000 jobs due to automation"

In its recently held 36th annual general meeting in Bangalore, Infosys announced that more than 11,000 jobs had been released due to automation. Revenue per full-time employee (FTE) increased by 1.2 per cent as a result of automation, utilization and productivity improvements, the company said. Having said that the company blamed the media for creating unnecessary hype over the matter.

Some shareholders of Infosys asked the board to consider the 'social impact' of layoffs and its social responsibility towards job creation too. 

The Washington Post has a similar story on Layoffs in Indian IT. The high-tech jobs that created India’s gilded generation are disappearing

When P.R. Sujoy became a software engineer, he thought his life was made. It was a job his father, a former government employee who prized stability above all, could brag about to nosy relatives. It came with a highflying salary, enough for a mortgage and to start a family. So when his company suddenly asked him to resign, Sujoy refused.
“I’m an IT guy. That’s all I do,” he said.
Eventually he was fired, and Sujoy became one more worker in India’s IT sector facing an uncertain future.
Information technology services account for 9.5 percent of the country’s gross domestic product, according to the India Brand Equity Foundation (IBEF), but now, after decades of boom, the future of the industry seems precarious. Since May, workers’ groups have reported unusually numerous layoffs. The Forum for IT Employees (FITE) estimates that 60,000 workers have lost their jobs in the past few months.
“Employees are being rated as poor performers so companies can get rid of them,” said FITE’s Chennai coordinator, Vinod A.J.
IT companies and some government officials say the numbers have been exaggerated, but industry experts say the country’s digital wunderkinds have much to fear.
It is not just the Washington post. Indian media seems to be bracing for over 200,000 jobs to be lost in Indian IT "2 Lakh IT Jobs At Risk, But Some Hope For Laid-Off Techies"
With nearly 2 lakh jobs expected to be slashed in the IT sector in the next two years, all is not lost as more than 50 per cent of the laid-off employees will be reskilled and transferred to other opportunities, a survey said. The survey was conducted by CIEL HR Services among mid to senior-level professionals in 50 IT companies. "The normal industry attrition is 15-20 per cent, which is not getting replaced and with automation taking over, more than two lakh jobs are likely to be lost in next two years.


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