Layoff number exaggerated, need to “re-skill or perish”: Nasscom

Nasscom has refuted the reports of mass layoffs in the sector and instead said that its member companies and their employees need to “re-skill or perish”.  “We are not a not-for-profit industry, that we sit and say that fine, the job is your right. We are for-profit and competitiveness is critical. People who do not perform, and do not live up to the expectations of customers are forced to let go, after we try to retrain them, and give them an opportunity to retain their jobs. That number ranges from 0.5 to 3 per cent at a company-level. This is not the number at the industry level,” Nasscom chairman Raman Roy said.