Friday, May 12, 2017

Tech Mahindra Lays Off 1000 Employees

India's fifth largest IT and software services company Tech Mahindra has laid off about 1,000 employees as part of their annual performance appraisal process.

Alos read: Tech Mahindra suspends appraisal cycle for senior employees more than six years of experience

Tech Mahindra said "We have a process of weeding out bottom performers every year and this year is no different."

Many IT companies are struggling with lower growth amid big changes in the technology landscape which is fast shifting towards new digital services. The tightening of the visa regime in many countries would also impact the IT companies' margin.



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