Infosys releases 11,000 workers due to automation
IT outsourcing firm Infosys has released more than 11,000 workers due to automation, the company said during its 36th annual general meeting in Bangalore last week. As a result of automation, utilization and productivity improvements, the company said revenue per full-time employee increased by 1.2 percent. The company further said that the latest move is a clear demonstration of how software is going to play a crucial role in its business model. CEO Vishal Sikka also said in a letter to shareholders that fiscal 2017 is bringing challenges, including rising protectionism, accelerating commoditization, and new competition.
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