The CEO of Infosys, Salil Parekh, has assured that the company will not be implementing any tech layoffs as a result of adopting generative AI (GenAI) and is prioritizing growth and efficiency instead. In a statement to CNBC-TV18, Parekh emphasized Infosys's stance against rightsizing or downsizing due to technological advancements such as GenAI, distinguishing the company from others in the industry that have resorted to job cuts to leverage AI efficiencies.
Unlike tech giants like Twitter, Meta, Amazon, and Google, which have announced staff reductions linked to AI integration, Infosys is investing in upskilling its workforce in GenAI rather than reducing headcounts. Parekh underscored the importance of training employees in generative AI, highlighting that a significant portion of Infosys staff are undergoing training in different aspects of this technology. This strategic approach aims to equip the company for future advancements while retaining its workforce intact.
Infosys maintains an agile hiring strategy, with Parekh noting that recruitment will pick up as economic conditions improve and investment in digital transformation increases. Despite reporting a decrease in headcount for the financial year 2024, a first since 2001, Infosys remains adaptable in its hiring approach in response to changing economic landscapes. Infosys CEO Salil Parekh also mentioned that discretionary spending at Infosys has not undergone substantial changes, maintaining a consistent approach from the end of the fourth quarter to the start of the first quarter.
Looking ahead, Infosys is confident in meeting its constant currency revenue guidance for the financial year 2025, with a projected growth rate of 1-3%. Parekh attributed this optimism to the stability of discretionary spending, key acquisitions, and the company's advancements in GenAI, which have played a crucial role in transforming Infosys as a whole.
