Reply to thread

Message: <blockquote data-quote="Emarald" data-source="post: 31177075" data-attributes="member: 579713">Starting from the last quarter of 2025, it was rumored that there were plans to lay off approximately 1,200 employees. I previously mentioned this news in another thread machan. It now seems this is actually going to happen. By the first quarter of this year, we will see how many have left; hopefully, there will be no further layoffs after that.This is not strictly due to AI replacement; it is also about cost-cutting and high government taxes. The government has not been business-friendly since the 2022 crisis. Because of the situation in the country, IFS has engaged more with India; as I recall, in 2023, IFS invested in India and partnered with Tech Mahindra.The current government does not seem to be supporting the IT industry or trying to attract foreign investors (unlike India, which recently secured deals with Amazon and Microsoft again). We cannot expect much from Dr. Hans or Mr. Eranga Weeraratne (Deputy Minister and CEO of Omobio), as they seem to have their own personal agendas.</blockquote>

Top Bottom