Infosys and Cognizant Layoff 7000 Freshers during recession

Infosys and Cognizant Layoff 7000 Freshers

Infosys and Cognizant Layoff 7000 Freshers during recession Amid recession Big IT Companies laying off freshers and senior employees. In recent news Indian Major IT Companies cognizant and infosys fires almost 7000 employee and planning to fire many more.

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Infosys and Cognizant Layoff 7000 Freshers

1. Infosys:-

The report of layoffs comes amid hundreds of freshers awaiting onboarding at Infosys for over 8 months after receiving an offer letter. “Even though I have a job offer from India’s top IT company Infosys, I am still staring at a grim future. I already have a gap in my resume because of all the waiting and no income from past several months. On top of that Infosys has not given any clarity on timeline of onboarding. And now some of my friends who got onboarded are fired, that makes me feel scared about my prospects as it was always thought that IT sector is mass recruiter and there are always opportunities, but it is changing,” a candidate awaiting onboarding at Infosys told the publication.

Just a few weeks ago, another IT company, Wipro, terminated over 400 fresher employees on the grounds of performance. Commenting on the layoffs, a Wipro spokesperson said, “We had to let go of 452 freshers after they performed poorly in assessments repeatedly, even after training. At Wipro, we take pride in holding ourselves to the highest standards. In line with the standards we aim to set for ourselves, we expect every entry-level employee to have a certain level of proficiency in their designated area of work.” “This systematic and comprehensive performance evaluation process triggers a series of actions such as mentoring and retraining and in some cases separation of certain employees from the company,” Wipro further explained.

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    2. Cognizant:-

    Cognizant as one of the many service based companies offers freshers around 4 lakh a year salary(avg) and these are numbers despite company makes 4000+ crore profit in Q3 end. It has also come to news that Cognizant has fired these employees calling it a recession despite making so much profit. Even Cognizant India’s head Rajesh Nambiar said that there was high involuntary attrition due to failed background checks, as per the report.

    IT services provider Cognizant’s third-quarter net profit jumped 15.6% on efficient pricing and a sharper focus on Digital even as revenue and bookings slipped below expectations on macroeconomic headwinds.

    The Teaneck, New Jersey-based software exporter’s net profit was $629 million on quarterly revenue of $4.85 billion, up 5.6% in constant currency terms, the company said.

    In the times of economic hardships , recessions and layoffs , multiple tech companies are finding different reasons for firing employees to reduce the workforce. Recently cognizant fired 20000+ employees (6% of total work force) after background checks 

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