Indian IT major Tech Mahindra will lay off as many as 5,000 employees by April this year, as machines take over jobs from humans at the company's BPO unit. Headcount at the company will no longer be in line with its revenue growth, because technology "makes it possible for a single individual to accomplish multiple tasks", reported the Press Trust of India (PTI), citing the company's Managing Director CP Gurnani. The news comes after the IT provider laid off around 2,500 employees in the third fiscal quarter ending the 31st of December 2020. "What has happened is I used to have around 43,000 employees at the end of FY20, at the end of FY21, I expect to have about 38,000 employees in BPS (or BPO). But that is because the productivity has increased and the revenue has also gone up," the executive explained to the newswire.
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The Layoff List was created in 2019 and is free for the community. Tips reported are left anonymous unless they explicitly ask to be included as a source. We verify a majority of tips and include independent sources, but for tips that we are unable to verify we separately categorize them as unverified reports to avoid misrepresentations.