Global software major Infosys on Wednesday said it will not lay off nearly 3,000 techies after the Royal Bank of Scotland (RBS) cancelled its contract for setting up a new bank (Williams & Glyn) but redeploy them in other projects.
"We would like to clarify that there are no job losses and that all employees affected by the ramp down that will take place over the next several months will be redeployed on other projects," the company said in a statement.
There were reports on August 16 that Infosys will soon lay off about 3,000 techies.
"Subsequent to this (RBS) decision, we will carry out an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months," the city-based IT major had disclosed on its website but did not share details with the media.
The Edinburgh-based RBS announced last week that it would no longer pursue its plan to separate and list a new UK (British) standalone bank (W&G) and instead pursue other options for the divestment of its business.
"We have been a W&G programme technology partner for consulting, application delivery and testing services," the IT outsourcing company said on its website.
According to company sources here, RBS signed a five-year multi-million dollar contract with Infosys and the US-based software major IBM for providing IT services to its proposed W&G bank."As RBS has a key relationship for us, we look forward to strengthening our strategic partnership and working with it across other transformation programmes," the company added.