Infosys CEO Salil Parekh reassured that the company has no plans to cut jobs, despite significant layoffs in the tech industry due to advancements in generative AI (GenAI). In a recent interview with CNBC-TV18, Parekh emphasised that Infosys will not follow the trend of downsizing.
Parekh outlined Infosys' strategy for integrating various technologies, including GenAI, within the organisation. He believes that technological advancements will create new opportunities rather than eliminate existing jobs.
Infosys plans to continue hiring and developing expertise in generative AI to better serve global enterprises. When asked about other IT companies downsizing, Parekh said, "No, we are not doing any of that. In fact, others in the industry have done that we have been very clear that that's not the approach we are taking. In fact, my own view is for large organisations, all technologies will coexist."
"We at Infosys, a very strong and generative AI and over the next several years, we will have more and more people joining us who become experts in generative AI, and we will be serving the world's large organisations.," Parekh added.
Infosys recently issued performance bonuses to its employees. However, a recent report highlighted a reduction in the average payout for the fourth quarter.
Employees at band six and below received quarterly performance bonuses for January-March, but the average payout dropped to 60 percent from 73 percent in the previous quarter.
In a recent interview with CNBC-TV18, Infosys founder Narayana Murthy stated that India has made substantial strides in adapting global innovations but still has a long way to go to originate new technologies.
He said, "I think India has made decent progress. We have come from a time when we couldn't even use the inventions and innovations that were introduced in the developed world fifty or sixty years ago."
"Today, thanks to all the wonderful work done by the government by our institutes of higher learning, we have reached an orbit where we are in a position to use the inventions and innovations that take place in the developed world for the betterment of the country," he added.