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This is not for the first time that IT industry has faced the layoff problem, says Narayana Murthy IT companies can protect the jobs of youngsters if senior executives take pay cuts, said Infosys co-founder NR Narayana Murthy. He added that the industry has dealt with the issue several times in the past. Murthy said he has no doubt that all industry leaders have good intentions to solve the problem of layoffs. "There are a lot of smart leaders in the industry, but I have no doubt at all that they are all well-intentioned people and they can find solutions," he told news channel ET Now. Murthy also said this is not for the first time that the industry has faced the layoff problem and hence there should not be any extreme anxiety as the industry had dealt the issue and found solutions then. "Let us remember we have gone through this several times in the past. We went through that in 2008, in 2001. So, this is nothing new. Therefore, there is no ...

According to reports, the 7 biggest IT firms operating in India are set to let go of 56,000 workers In his social media post, an anonymous techie called the recent spate of layoffs in the information technology (IT ) sector a "nightmare". The bad news is, the nightmare is unlikely to end anytime soon. The seven biggest IT companies operating in India, including Wipro, Infosys, Tech Mahindra and Cognizant, are planning to layoff at least 56,000 engineers this year, Livemint reported on Thursday. According to the report, this projected number is double the amount of layoffs by these companies last year. Mint claims the astoundingly high number was arrived at after "extensive interviews with 22 current and former employees across these seven companies". Read this: 62 million tonnes of waste generated annually; how ragpickers help clean it The companies concerned are Infosys, Wipro, Tech Mahindra, HCL Technologies, US-based Cognizant Technology Solut...