[vc_row][vc_column][vc_column_text]Earlier reports said the tech giant is firing 5000 Indian employees

Multinational tech giant IBM on Wednesday rebuffed reports that it is firing 5,000 employees as part of a giant layoff trend persisting in the market.

Reports on Tuesday said that the tech giant is firing 5,000 Indian employee, thereby joining the club of Cognizant, Infosys and Wipro by massively laying off employees as part of a strengthening trend of automation and post stricter rules for visas in foreign countries.

IBM also said that though the layoff reports were false, the company is planning to re-skill and rebalance its employee workforce.

“This is factually incorrect. We are not going to comment further on rumours and speculation. Re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cognitive and cloud technologies for clients around the world,” said a spokesperson for IBM in an email.

Economic Times reported that though IBM had fired 200 employees from a business unit last year, it had done so in a staggered manner. Other reports suggest that the company’s performance-based appraisal exercise of its employees may affect around 1-2 per cent of the total work strength.

IBM India gives jobs to around 1.5 lakh people and the company has decided not to go smooth on identifying non-performers.

Major tech companies including Wipro, Infosys, Cognizant, and, more recently, Tech Mahindra have come up with an annual performance reviews, which identifies the bottom or bad performers.

IT secretary Aruna Sundararajan said that the IT sector will grow at a pace of at 8-9 per cent this year and expressed confidence that more people will be hired by the companies as concepts like digital payments, cyber security, big data and cloud gain traction.[/vc_column_text][/vc_column][/vc_row]

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