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Infosys Ltd Denies Laying Off Employees-DJ


Friday, 4 Jan 2013 04:05am EST 

Dow Jones reported that Infosys Ltd denied a newspaper report that said the Indian outsourcing company has started sacking some 5,000 underperforming employees as part of its efforts to cut cost amid slowing growth. Infosys Ltd said some underperformers were indeed leaving, but that wasn't part of any layoffs at the Company. This is part of the normal ebb and flow of running a business, it said in a statement. Also, the number of underperformers who may be affected is significantly lower than 5,000, it added. In its statement, Infosys Ltd said the company encourages chronic underperformers to seek other jobs. This is done regularly and is not a one-time event, it added.