The effect of automation has started reflecting on the operations of IT behemoth Infosys.
The firm has "released" 8,000-9,000 employees in the past one year due to automation of lower-end jobs, its human resources head Krishnamurthy Shankar told The Economic Times.
The employees have been tranferred to more advanced projects, Shankar added.
With more automation set to take place, the pace of hiring is expected to come down over time, Shankar said.
With companies adopting automation and artificial intelligence globally, the effect on the low-skilled jobs will be felt significantly in the near future.
According to US based research firm HfS Research, by 2021, 9 percent or about 1.4 million jobs will be lost globally, with Philippines, the United Kingdom and the United States also taking hits.
India will also be affected with 6.4 lakh low-skilled jobs to be hit in the next five years, the report said, signaling a likely gloomy employment scenario across the Indian IT majors.
Infosys on January 13 reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter of the current fiscal. The IT major revised its current fiscal constant currency revenue guidance to 8.4-8.8 per cent against 8-9 per cent estimated earlier. The Bengaluru-headquartered firm's net profit stood at Rs 3,465 crore in the corresponding three months a year ago.
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