Mindtree will not layoff any employee; Will honour all Campus offers.

Mindtree CEO and MD, Debashis Chatterjee, said that Mindtree has no plans to layoff employees, although its bench policy will continue to function.

Additionally, Mindtree will honor all campus offers made.

Here are the few key points from Mindtree Q1 results:

  • Mindtree Q1FY21 net profit rises 3.3% QoQ to Rs 213 crore, beats estimates.
  • Mindtree added 738 employees in Q1 with a total headcount to 21,955.
  • Mindtree attrition rate reduced to 16.6%.
  • Communication, Media, and Technology segment accounted for 51% of total revenue for Mindtree.
  • Mindtree CEO and MD, Debashis Chatterjee, confirmed that Mindtree would not layoff any employees, and the focus will be on reskilling and retraining existing employees in new-age technologies.
  • Mindtree will continue selectively hiring on need basis.
  • As reported in Moneycontrol, Mindtree will now focus on four new service lines: customer success, data, intelligence, cloud, and enterprise IT, for deeper account mining.

Ten industry professionals from Cambridge Technology Partners, Lucent Technologies, and Wipro founded Mindtree in 1999. Currently co-headquartered in Warren, New Jersey, and Bengaluru, India.

Mindtree has three development centers in India and 12+ offices in Asia, Europe, and the United States. 

Mindtree was in the limelight last year when the L&T group acquired the Mindtree.

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Read: Mindtree becomes the first forcefully acquired Indian IT company