In this article, we will talk about L&T Technology Services.L&T Technology Services is an Indian multinational technology firm that supplies engineering research and development services. This company is headquartered in Vadodara. The firm’s business interests include automotive, embedded systems, engineering and semiconductor engineering. Reportedly, LTTS firm has laid off 200 workers in mid to senior roles. The engineering services firm sacked its team partially due to the actions started as part of the performance cycle and to diminish the overlap of the roles. Here we have more information about it and we will share it with you in this article.
The layoffs have specifically occurred and support functions because of the integration of automation in several functions. L&T Technology has approximately 24,000 workers on its rolls. The TOI in its report said that there may be another round of job cuts in L&T in January, albeit after assessing the business environment. L&T representative described “We perform annual performance reviews as a standard process to assess the abilities of our workforce every year and act properly based on skill sets and performance. You are on the correct page for more information about the news, so please read the complete article.
Meanwhile, this is necessary the maintain our high standards of service delivery, and continuous upskilling while being nimble as an institution and assuring that we remain at the vanguard of technological innovation. Looking ahead, in line with our development possibilities and process, we persist in hiring and adding to the team, especially in places of plant engineering, digital & software engineering, software-defined vehicles and Al over 2,500 engineers,” Currently this news has been gaining huge attention from the people. Swipe up the next page for more information about the news.
As far as we know, last month, L&T Technology Services declined its revenue development direction for the current fiscal. The firm posted a 5 per cent increase in September quarter net profit to ₹315.4 crore but dropped its earnings development guidance for the current fiscal. The firm’s Chief Executive and Managing Director Amit Chadha stated the slower income growth is because of integration with an accepted entity, and added that the development would have been 16% if not for the integrations. However, he stated the firm has been decreasing its revenue development guidance to 17.5-18.5% on a continuous currency basis for FY24 as a prudential measure, given the current financial delays. Here we have shared all the information about which we had. Stay tuned to us for more updates.