Infosys CEO Salil Parekh affirmed that despite significant job cuts in the tech industry due to advancements in generative AI (GenAI), the company has no intentions of reducing its workforce. In a recent interview with CNBC-TV18, Parekh stressed that Infosys will not follow the trend of downsizing.
Parekh outlined Infosys' strategy for integrating various technologies, including GenAI, within the organisation, believing 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 questioned about other IT companies downsizing, Parekh stated, "No, we are not doing any of that. In fact, others in the industry have done that, but we have been very clear that's not the approach we are taking. In fact, my own view is for large organizations, all technologies will coexist."
"We at Infosys have a very strong focus on 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 organizations," Parekh added.
Infosys recently distributed performance bonuses to its employees. However, a recent report noted a decrease 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 declined to 60 per cent from 73 per cent in the previous quarter.
In a recent interview with CNBC-TV18, Infosys founder Narayana Murthy expressed that while India has made significant progress in adopting global innovations, it still has a long way to go in originating new technologies.
He remarked, "I believe India has made respectable progress. We have transitioned from a time when we couldn't even leverage the inventions and innovations introduced in the developed world fifty or sixty years ago."
"Today, thanks to the commendable efforts by the government and our higher education institutions, we have reached a point where we can utilize the inventions and innovations from the developed world to improve our country," he added.
