Almost 200 fired in Infosys's 4th layoff round since February
What's the story
Infosys has fired another 195 trainees from a batch of 680, citing internal assessment failures.
The news was revealed through company emails dated today, which were reviewed by Moneycontrol.
The latest layoffs mark the fourth wave of departures at the Bengaluru-based software giant since February, taking the total number of affected trainees to around 800.
Skill development
Upskilling initiatives for affected trainees
Out of the total affected trainees, some 250 have enrolled in upskilling programs via UpGrad and NIIT. Roughly 150 have signed up for outplacement services.
Infosys has partnered with UpGrad for Business Process Management (BPM) training and with NIIT for IT training, offering free upskilling programs to those impacted by the layoffs.
The company is also offering alternative career paths to these trainees, including potential roles in Infosys BPM.
Market challenges
Infosys's response to subdued demand
The layoffs come as Infosys continues to navigate a subdued demand environment.
The company has forecasted revenue growth of just 0-3% for the current fiscal year, underscoring ongoing uncertainty in its core markets.
In light of these challenges, Infosys is offering a one-month ex-gratia payment along with a relieving letter to the affected trainees and will sponsor training for those opting for the BPM course.
Legal clearance
Karnataka govt clears Infosys of labor law violations
The Karnataka Labour Department has absolved Infosys of any labor law violations in the exit of trainees, according to documentary evidence collected.
A department source said, "They were all only trainees, and some underwent training for three months. We cannot call it a layoff, so these labor laws are not applicable in such cases."
The company has maintained it followed existing policy where freshers will not be able to continue with the organization if they fail the assessment.