“It is part of the internal appraisal process,” company officials said, refusing to go into further details.
The media had reported that the company was laying off around 600 workers this year.
However, that number is likely to be a gross under-estimation of the real figure. According to industry sources, IT services companies usually fire about 1-3% of their staff every year for various reasons.
The number reported by the media comes to only 0.33%.
The company urged investors to look beyond layoffs and on the growth prospects of the company.
On wage hikes, the company said the raises will be ‘in line with the industry’.