Mumbai: Infosys is planning to lay off up to 5,000 employees as the software services provider looks to cut costs and boost sales, The Economic Times reported on Friday. The report came as Infosys executive co-chairman S Gopalakrishnan was quoted by other media reports as saying 2013 will be better than last year for India's IT industry.
Gopalakrishnan was quoted as saying brighter prospects for the United States and China would help the IT sector, as he addressed an event for the Infosys Science Foundation on Thursday. Infosys was not immediately available to comment on the reports.
Infosys shares were up 0.5 per cent, in line with the 0.6 per cent gain in the IT sub-index.
Infosys is planning to lay off up to 5,000 employees as the software services provider looks to cut costs and boost sales.
Update: Infosys said on Friday a newspaper report it was planning to fire up to 5,000 poorly performing workers was "wrong", although it encourages "chronic under-performers" to leave as part of its staff management.