Indian IT giant Infosys has made an official comment about the growing rumor about ongoing layoffs. Trashing the separation reports in company, the Chief Operating Officer UB Pravin Rao termed it as ‘overstated’ and further said, ‘technology driven transformation presents new jobs for companies like Infosys.’

After meeting with IT Minister Ravi Shankar Prasad in Delhi, Pravin Rao and Infosys co-chairman Ravi Venkatesan spoke with TV reporters and said, ‘we’ve only performed a regular performance-based layoff where in just 300-400 number of employees were taken out.’

Commenting to media queries, IT minister said, ‘Companies like TCS and Infosys can continue to hire in large numbers but there won’t be huge layoffs as being rumored.’ In the recent past, several news popped out spread fears among people working in IT industry and definitely, this announcement would give a sigh of relief.

Ever since such reports emerged, the company co-founder NR Narayana Murphy asked top executives and managers to take pay cuts in order to over the low-phase situation in markets. Earlier last month, Infosys formed its own development center in United States and announced that it’ll provide 4000 new jobs for Americans.

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