According to this news report:
With companies keen on maximum utilisation of employees and low tolerance to poor performance in the backdrop of global economic turmoil, nearly 2,100 employees in software firm Infosys have faced the axe.
the officials said the sacking was part of the annual routine, which usually formed 5% of the total number of employees but this time it was much lower.
Some of the employees had been “outplaced”, Kris said, which refers to the firm hiring the services of placement agencies to help the employees to get placements in other firms.
Infosys has a workforce of 1,05,000, including trainees.
And its results signals more tough times ahead:
However I think there is more caution in these actions, and things are on the upswing at least in industries that address the Indian consumer. Smaller IT firms that target the domestic industry might grow much better as SMEs look at ramping up their IT systems