Skip to content
Search

Latest Stories

GenAI adoption won't lead to job losses: Infosys CEO

Salil Parekh said Infosys sees technological advancements as avenues for expansion and growth, rather than as tools for reducing its workforce

GenAI adoption won't lead to job losses: Infosys CEO

Infosys CEO Salil Parekh has said that Generative AI (GenAI) will not result in job losses at the company.

He told CNBC-TV18 that Infosys was not looking at rightsizing, downsizing, or any kind of job cuts due to GenAI as has happened with others in the industry.


Parekh said Infosys sees technological advancements as avenues for expansion and growth, rather than as tools for reducing its workforce.

While various global technology firms like Twitter and Meta have recently announced layoffs citing AI efficiencies as reasons for downsizing, Parekh said that Infosys is leveraging GenAI to enhance operational efficiency and reduce costs without diminishing its employee count.

He emphasised the coexistence of different technologies in large organisations and highlighted Infosys’s commitment to training its workforce in GenAI.

Parekh said the tech giant’s hiring strategy will depend on the economic conditions and the pace of digital transformation spending.

“We see hiring come back as the economic environment improves and spending on digital transformation picks up. We have not shared an annual target on hiring and will remain agile based on the economic environment,” he said.

The Bengaluru-based company registered its first year-on-year decline in headcount for the first time since 2001. Infosys’ headcount for the financial year 2024 was 317,240 as against 343,234 employees in the previous year.

Parekh is confident of meeting its constant currency revenue guidance for FY25, which stands at 1-3 per cent. “What gives us comfort is the large deals, the stability of discretionary spend, and our advancements in GenAI, where we have completely transformed the company,” he said.

More For You

Modi & Trump

Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.

Reuters

India, US to discuss trade issues after tariff hike

INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.

India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.

Keep ReadingShow less
Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less