Infosys to buck the layoffs trend? No downsizing due to Gen AI, says CEO Salil Parekh

Amid the massive layoffs trend going on in tech industry, Infosys CEO Salil Parekh has assured that the company has no plans to cut jobs due to the advancements in generative AI. In an interview with CNBC-TV18, Parekh emphasised that Infosys will not follow the trend of downsizing.

No Layoffs by Infosys

While outlining the strategy to integrate various technologies, including GenAI, within the organisation, Parekh said that he believes, technological advancements will create new opportunities rather than eliminate existing jobs.

"No, we are not doing any of that. In fact, others in the industry have done that we have been very clear that that's not the approach we are taking. In fact, my own view is for large organisations, all technologies will coexist", Parekh told CNBC-TV18 when asked about IT companies downsizing.

Parekh further added that over the years, Infosys will hire more people with expertise in generative AI.

"We at Infosys, a very strong and generative AI and over the next several years, we will have more and more people joining us who become experts in generative AI, and we will be serving the world's large organisations.," Parekh added

Infosys recently issued performance bonuses to its employees, however a recent report highlighted a reduction in the average payout for the fourth quarter.

Employees at band six and below received quarterly performance bonuses for January-March, but the average payout dropped to 60% from 73% in the previous quarter.

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