Infosys Ltd. is planning retrenchment of up to 5,000 employees, in an attempt to trim costs and strengthen sales. Infosys has decided to ask the worst performing employees, nearly 3-4% of the total 150,000 manpower, to immediately leave the company. Notably, the IT giant earlier this year had deferred salary hikes, citing a tough business environment, but later announced increments following salary revision by its peers.
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- Infosys Ltd. Plans to Lay Off Up to 5,000 Employees to Cut Costs, Boost Sales