India’s IT powerhouse Infosys has fired around 2100 employees. It is said that the employees were fired for their incompetency after company’s patience ran out.
But the news has made approximately hundred thousand employees nervous over the question of job security.
Infosys is among top IT companies in the country. It was named as the best company in India in Corporate Governance in The Asset Magazine's annual Corporate Governance Index 2008.
The Asset, a financial business magazine for the financial services industry in Asia, has focused in understanding corporate governance practices in Asian companies by comparing these with international best standards.The magazine's basis for corporate governance standards is The Combined Code Principles of Good Governance and Code of Best Practice derived by the magazine's committee on its final report and from the Cadbury and Greenbury Reports. The Code is also based on the White Paper on Corporate Governance in Asia produced by the Organization for Economic Cooperation and Development (OECD).
Infosys Technologies Limited is an India multinational information technology services company headquartered in Bangalore. It is one of India's largest IT companies with over 100,000 employees.
Infosys has nine development centers in India and over 50 offices worldwide. Its annual revenues for the fiscal year 2007 - 2008 exceeded US$4 billion with a market capitalization of over US$14 billion.
According to Forbes, Infosys is among the world's top 1000 companies in 2009 (top 20 in software and services, 7th largest by market value) and among the top 500 in terms of profits and market value.
