Infosys CEO Salil Parekh has clarified that the company has no plans to cut staff numbers despite the advancements in generative AI (GenAI) leading to mass layoffs in the tech industry. In a recent interview with CNBC-TV18, Parekh emphasised that Infosys will not follow the trend of retrenchment.
Parekh outlined Infosys’ strategy to integrate various technologies, including GenAI, within the organization. He believes that technological advancements will not eliminate existing jobs, but will create new opportunities.
Infosys will continue to hire talent and develop expertise in generative AI to better serve global enterprises.When asked if other IT companies are cutting staff, Parekh said, “No, we are not doing anything like that. In fact, other companies in the industry are cutting staff and we have made it clear that we are not going to take that approach. In fact, I personally believe that in large enterprises, all technologies will co-exist.”
“Infosys has a very strong generative AI footprint and over the next few years, we will have additional generative AI experts joining us to serve some of the largest enterprises in the world,” Parekh added.
Infosys recently gave out performance bonuses to employees, but a recent report highlighted a decline in the average payout in the fourth quarter.
Employees in band 6 and below received quarterly performance bonuses for January to March, but the average payout fell to 60% from 73% in the previous quarter.
Infosys founder Narayana Murthy, in a recent interview with CNBC-TV18, said India has made great strides in adopting global innovations but it still has a long way to go in creating new technologies.
“I think India has come a long way. We come from a time when we didn’t even have access to inventions and innovations that were introduced in developed countries 50-60 years ago,” he said.
“Today, thanks to the great work done by the government and higher education institutions, we have reached a stage where inventions and innovations made in developed countries can be harnessed for the betterment of the country,” he added.
