
2/7/2020
PUNE: US-based
software and communications service provider Amdocs is laying off around 1,000
employees amid uncertainties surrounding the financial recovery owing to the
ongoing Covid-19 pandemic, the media reported on Thursday.
According to a report in Israeli-based website Calcalist, US-based
software and communications service provider Amdocs's quarterly earnings is
around $1 billion and a huge part of it – nearly $691 million - comes from the
US which is currently witnessing a coronavirus resurgence. In March, the
company announced to train 5,000 employees in Cloud-based technologies over the
next couple of years in India.
"Amdocs is planning to cut many hundreds of jobs, including
senior positions," the report said. Amdocs employs 25,000 people globally,
and over 10,000 employees are in India which is its biggest research and
development hub. The company has development centres in Pune and Gurugram.
"As a global corporation with tens of thousands of employees,
Amdocs is continually making the necessary adjustments in its expenses while
strategically assessing its workforce and adapting to the changing business
needs," Amdocs said in a statement. "Amdocs is continuing to recruit
employees in a wide range of sectors in which its activity is growing and
investing in its growth engines while taking care of its human capital,"
the company added.
In April, Amdocs notified its employees that due to the financial
uncertainty, "the salary raises planned for July will not be implemented
as scheduled and that all of its employees should take 13 days of paid vacation
between April and June of this year." "As a global company we are committed
to acting in a level-headed, responsible, and proactive manner," Amdocs
President and CEO, Shuky Sheffer had said in a statement. Earlier this week,
Amdocs announced that it is issuing $650 million in bonds for repayment in
2030.
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