Infosys (INFY) has denied an India media report it was planning to fire 5K underperforming...

|About: Infosys Limited, Inc. (INFY)|By:, SA News Editor

Infosys (INFY) has denied an India media report it was planning to fire 5K underperforming workers; the IT outsourcing giant says any cuts would be the result of encouraging "chronic underperformers" to leave as part of routine reviews. Infosys, which has over 150K employees, had a rough 2012 thanks to margin pressure and soft demand for major projects in the U.S., Europe, and to some extent China.