The economic crisis seems to be deepening and with it the layoff count. The latest round of bad news comes from India's second largest IT services provider, Infosys, who till now claimed to have stayed away from layoffs.
According to reports, the company has put at least 5,000 employees or 5 per cent of its total global workforce under the performance scanner. Media reports also suggest that the company has asked senior managers (project managers, senior and group project managers, delivery managers) to give lowest performance rating (4 on a scale of 1-4) to the 'underperforming' 5 per cent as a part of its consolidated relative ranking (CRR).
Incidentally, while lowest rankings are not new in the company, this is the first time that Infosys has made it compulsory.
Some 40-50 sales executives have also been reportedly asked to quit in the last two months. Most of these were located in the US and were from consulting background who are in a client-facing role.
The company, however, claims it to be a usual process. Its Group HR head said that there was no change in the policy, and the percentage of employees who are ranked four in the scale varies every year between one percent to five percent.
The official said that the company has decided to implement a six-month mentoring programme for these employees after which it will decide their future based on the improvements they have made. As a part of this programme, each affected employee will be asked to work under the supervision of a mentor who is a senior executive.
During this period, the employee will not be given any important assignment, though he will be allowed to work on his present project. If the concerned employee is on bench, he will give all his time for the mentoring programme.
Last year, Infosys' rivals TCS, Wipro and Satyam too axed a sizeable number of jobs terming them `performance-based'.
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