Indian IT major Larsen and Toubro Technology Services (LTTS) has cut jobs in mid-to-senior roles, mainly in delivery and support functions, due to performance cycle actions and role overlaps. LTTS recently cut its full-year forecast as it logged a 5.17% rise in September quarter profit. The company expects revenue growth of 17.5% to 18.5%, down from the earlier estimate of 20%. Despite the job cuts, LTTS plans to hire in areas of plant engineering, digital & software engineering, AI, and software-defined vehicles with over 2,500 engineers. Another round of job cuts is expected in January.
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L&T Tech job cuts: Company’s statement, positions impacted and more
Indian IT major Larsen and Toubro Technology Services (LTTS) has cut jobs in mid-to-senior roles, mainly in delivery and support functions, due to performance cycle actions and role overlaps. LTTS recently cut its full-year forecast as it logged a 5.17% rise in September quarter profit. The company expects revenue growth of 17.5% to 18.5%, down from the earlier estimate of 20%. Despite the job cuts, LTTS plans to hire in areas of plant engineering, digital & software engineering, AI, and software-defined vehicles with over 2,500 engineers. Another round of job cuts is expected in January.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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