Mumbai, May 28: Infosys reportedly had cut hiring by 46% in fiscal year 2023 and reduced its workforce by 3,611 while resisting layoffs. The IT major had witnessed a 40% plus fall in net hiring during FY23. Infosys CEO Salil Parekh reportedly announced that there would not be any tech layoffs in 2024. According to reports, the company said it was more focused on integrating various technologies and generative AI.

In 2024, the tech layoffs have resulted in thousands of people losing their jobs without finding another suitable role. While other companies have been struggling, Infosys made a bold statement that there would be no job cuts due to genAI, and the IT company said it would focus more on growth and further expansion. According to a reports, Infosys CEO Salil Parekh informed about not cutting the jobs while the tech company would adopt generative AI. Infosys Cut Hiring by 46% in Fiscal Year 2023, Reduces Headcount by 3,611 Employees While Resisting Layoffs.

The reports said the CEO discussed the company's plans while speaking to CNBC-TV18. The reports mentioned that Salil Parekh said that Infosys would not consider downsizing, rightsizing, or implementing any other types of layoffs due to the adoption of generative AI. Instead, he said that Infosys would be more focused on opportunities for growth and expansion instead of laying off employees from the workforce. 

Unlike other tech companies such as Meta, Amazon, Twitter, Google and recently Paytm, Infosys would leverage the generative artificial intelligence and enhance the operational efficiencies with the AI integration. The reports said that Infosys would go with a proactive approach to train its workforce in generative AI. With this strategy, the company said it would be prepared for future technological advancement and maintain its workforce without implementing tech layoffs. Tech Layoffs: Indian IT Sector Hit by Silent Layoffs With Employee Asked To Choose Voluntary Resignation or Termination, Affects Over 20,000 People, Says Report.

Infosys CEO Salil Parekh reiterated  the company's commitment to its workforce, emphasizing that the  company would retain its employees. He also highlighted the integration of generative AI technology, a move that not only enhances capabilities and growth but also underscores the value and importance of the workforce in the company's future.

(The above story first appeared on LatestLY on May 28, 2024 05:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).