Statement: Inaccurate reporting in a newspaper this morning
This morning, an article in a major daily newspaper claims that Infosys is laying off 5,000 people to manage costs. This is wrong in two different aspects.
One, there is no layoff. Infosys is a performance-driven company. And like any performance-driven company, it actively manages underperformance and encourages chronic under-performers to seek other jobs. This is done regularly and is not a one-time event. We have a robust performance management system that includes structured appraisals and performance feedback.
Two, the number that may be affected is significantly lower than the 5,000 quoted in the article. For a performance-driven company with more than 150,000 employees this is part of the normal ebb and flow of running a business.
Infosys Limited is an information services company, their end-to-end business solutions include:
- consulting and systems integration comprising consulting, enterprise solutions, systems integration and advanced technologies;
- business IT services comprising application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management;
- products, business platforms and solutions to accelerate intellectual property led innovation, including Finacle TM, our banking product, which offers solutions to address core banking, mobile banking and e-banking needs of retail, corporate and universal banks worldwide;
- newer areas such as cloud computing, enterprise mobility and sustainability.
Net sales break down by market between finance (29.8%), retail and logistics (14.5), telecommunications services (12.3%), manufacturing industry (12.9%), energy and utilities (12.6%), technology (8.1%), life sciences, health care and insurance (6.9%) and other (2.9%).
Net sales are distributed geographically as follows: India (2.6%), North America (61.8%), Europe (25.6%) and other (10%).
INFOSYS LIMITED 
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