Pink slips at tech firms across the country are raging and an Infosys founder is saying layoffs at his company is all but a certainty.
“If the company board or CEO decides to cut 10% of expenses, the easiest way to do it is to cut 10% of the workforce and you immediately meet your goal,” said Kris Gopalakrishnan, at a recent workplace summit.
The company is already cutting back hiring and has fired 600 new employees that the company said failed internal testing.
With all this new information coming out, no one at the company is commenting about what could happen at the company’s Hartford office.
CT Governor Ned Lamont, who championed a grant for the company worth millions in exchange for expanding their Hartford footprint, did not return our calls.
If layoffs do, in fact, happen at Infosys in Hartford, it would not be surprising. Tech firms from the Silicon Valley to the NYC financial district have been dumping employees, due to the downturn in the economy.
But, at the same time they kick Americans from their payroll, they ratchet up their hiring of foreign workers. In a recent Economic Policy Institute article, the top 30 H1-B employers hired 34,000 new H1-B workers but laid off 85,000 US workers.
We’ll be keeping our eye on the situation.
If anyone inside the office at the Hartford Infosys office feels a need to share some juicy gossip, feel free to reach out … cttechworkers@protonmail.com