New York, April 6: Tech layoffs in 2024 continue as the US-based IT and management consulting company EXL Service lays off 800 jobs in India and the United States. The EXL Service layoffs were reportedly initiated due to the GenAI demand. A report said that the IT company also hired skilled AI workers. EXL Service became a new company that cut jobs due to artificial intelligence.

According to the report by Times of India, EXL Service layoffs will likely affect junior staff members in departments like digital operations and data analytics in both countries. The report said that the company cut 2% of its total workforce, nearly 800 employees from the departments. It said 400 will have rehiring opportunities elsewhere out of the laid-off workers. The report highlighted that the EXL Service had 55,000 people across the globe. Apple Layoffs: Apple Lays Off Over 600 Employees in US State of California After Cancelling Self-Driving EV Project.

While the IT company announced the layoffs in 2024, it began hiring talented workers with Generative AI, AI and advanced data skills. Following the recent leadership changes, the report said that EXL CEO Rohit Kapoor was promoted to the board chair along with Vikas Bhalla and Vivek Jetley, two senior leaders. The report mentioned that these leaders took on expanded roles, including AI-led solutions and integrating data. Intel Layoffs: Intel Lays Off It Employees in Sales and Marketing Group.

As per the report, EXL Service will go through a restructuring exercise of the existing roles and bring skilled workers in artificial intelligence and data to the top. The company said it would provide better services to its clients by ensuring that it has the required talent and skill set. The report said that the company underwent macroeconomic challenges and that businesses would invest less in nonessential IT projects. The report said that the rising demand for artificial intelligence had been the reason for EXL Service to restructure its operations and meet the client's demands. No further information about the severance payment was reported by the Times of India.

(The above story first appeared on LatestLY on Apr 06, 2024 02:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).