BUSINESS

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BUSINESS

L&T Tech Services cuts 200 jobs

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Automation integration

L&T Technology Services (LTTS) has laid off 200 employees, primarily in delivery and support roles due to automation integration.

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Reducing redundancies

The layoffs are a result of performance evaluations and reducing role redundancies.

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Active hiring

Despite this, LTTS is actively hiring in areas such as plant engineering, digital & software engineering, AI, and software-defined vehicles.

4

Lowered growth forecast

Last month, the company reduced its revenue growth forecast for the current fiscal year to 17.5%-18.5% from 20%.

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Slower growth reasons

CEO Amit Chadha attributed the slower growth to integration with an acquired entity and current economic uncertainties.