Layoffs cannot be avoided, says Infosys Co-founder Kris Gopalakrishnan

As mass layoffs continue to take place across the globe and make ripples in India, Infosys Co-founder Kris Gopalakrishnan has stated that layoffs cannot be avoided. Speaking at the For All Summit 2023 by Great Place to Work, the Infosys Co-founder stated that while layoffs are undesirable, the practice cannot be avoided.

During the Summit, he further stated that the IT industry employees around 5 lakh people and has been continuously adding employees on a net basis over the past 4 decades.

The stated that out of these, 1.5 lakh employees are reportedly laid off. While it is unfortunate, he added that we must try and help those who have been impacted. He further stated, that it is equally important to look at the reason behind the layoffs and understand it.

If the company board or CEO decides to cut 10% of expenses, the easiest way to do it is to cut 10% of the workforce and you immediately meet your goal. That’s mechanical and indiscriminate and could cause damage far beyond what you expect. On the other hand, if the layoffs are necessitated by changes and if you it in a humane way, it’s not desirable but it cannot be avoided," he stated at the summit.

Kris Gopalakrishnan also further stated that the leadership should also behave properly and take larger pay cuts in order to retain some employees in the company.

Recently, Mass Layoffs have been taking place in a spree. From Amazon to Google to Goldman Sachs and now Disney, layoffs have impacted almost all industries. Infosys also had recently made headlines when it reportedly fired 600 trainees after they failed to clear the Freshers Assessment, FA test at the IT company.

As of today, February 9, 2023, JP Morgan announced it would be laying off hundreds of mortgage bankers hours after sharing its plans to hire over 500 bankers. Similarly, Disney also announced to lay off 7,000 people due to a decline in the number of subscribers.