Narayan Murthy expresses sadness over IT layoffs even as Infosys plans to follow suit

The founder chairman of Infosys N R Narayan Murthy has expressed his sadness over the massive lay offs by the IT companies in a bid to cut their operating costs.  

Infosys had also announced that the IT major may hand out pink slips to mid and senior-level employees as the company carries out bi-annual performance review amidst the cut-throat competition in the industry. The company's peers, Wipro and Cognizant too had laid-off several employees to control costs.    \

While Cognizant sent out voluntary separation programme to several directors, associate VPs and senior VPs, with 6-9 months of salary; Wipro sacked 600 employees as a part of its annual performance appraisal.  
 
According to market experts, the IT sector is likely to witness a humongous number of about 2 lakh job cuts annually for the next three years as the industry remains unprepared to adopt new technologies and is getting increasingly automated.      

Even though the industry has been the top employer through the years and have developed a global demand through the outsourcing model, the industry poses threat from stringent scrutiny and rising protectionist sentiment.