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Indian IT major Larsen and Toubro Technology Services (LTTS) has cut jobs in mid-to-senior roles, mainly in delivery and support functions, due to performance cycle actions and role overlaps. LTTS recently cut its full-year forecast as it logged a 5.17% rise in September quarter profit. The company expects revenue growth of 17.5% to 18.5%, down from the earlier estimate of 20%. Despite the job cuts, LTTS plans to hire in areas of plant engineering, digital & software engineering, AI, and software-defined vehicles with over 2,500 engineers. Another round of job cuts is expected in January.
