There is both good and bad news coming in from the job sector, especially for IT companies.
While Larsen & Toubro Infotech Limited or LTI has confirmed that they will hire 3800 freshers this year, IT behemoth Cognizant is all set to terminate a lot of middle-level employees, in the coming months.
Why will Cognizant fire employees? Keep reading, as we share the logic behind these terminations.
Larsen & Toubro Infotech Will Hire 3800 Freshers
Engineering major Larsen & Toubro’s IT arm: Larsen & Toubro Infotech is expecting some big-ticket projects this year, and this is the reason they have announced a major push in recruitment.
Chief Executive Officer Sanjay Jalona has confirmed that they will hire 3800 freshers in 2019, and the process has already started. Last year, they hired 3000 freshers, which means recruitment has increased this year.
He said, “We will be hiring 3,700-3,800 freshers this fiscal year as against the 3,000 freshers we hired in FY19,”
Not only freshers, but lateral hiring will also take place, for experienced professionals in a specific niche. But for that, LTI is relying on the “just-in-time” recruitment process. Although Sanjay admitted that such recruitment process is not dependable.
This way, LTI joins TCS, Wipro and Infosys and other IT firms who have created a new record in job creation, across India. TCS, Infosys and Wipro alone have added 50,000 new jobs in 2019, which has broken 3-year old record in recruitment.
Overall, more than 1 lakh jobs have been created in the IT field in India.
Cognizant Will Terminate A Lot Of Mid-Level Employees
Meanwhile New Jersey-based IT behemoth Cognizant is considering a massive termination process within the company, which will hit middle-level employees the most.
We have already reported how Cognizant is right now under a lot of pressure, as they have posted their weakest growth in their entire history, and are bombarded by various law-suits and litigations.
CEO Brian Humphries, who took over the company reigns in the month of April, has admitted that severe action has to be taken now, to lower costs, and to increase profits.
As per analysts, Cognizant can filter out middle-level employees, who are in the designations of Project managers or Project Architects, and ask them to leave, if their projects are not yielding the desired revenues.
This way, the higher management will now accountable for the project in a greater way: they will ensure execution, continuity, revenues and profits.
Cognizant CEO has revealed that the company will now focus more on automation to bring down cost.
We will keep you updated, as we receive more information.