EPAM Systems, the US-based IT services provider, has sacked around 100 Indian employees. These were mostly bench people who were not tagged to any specific project. The company has also revoked offer letters to others who were about to join the NYSE-listed firm over the next few months.

As per the media reports, at least 100 employees across testing, DevOps, .Net, and Java domains have been asked to resign. The company’s human resources told the employees that the firm over-hired, misjudging the demand forecast. The HR managers also added that they couldn’t fund any projects for onboarding in the near future.
Reportedly, the employees were given two options; one with three months’ pay with immediate exit, another that they can serve two months’ notice, where their resignation can be revoked if they land any project during the notice period. It is to be noted that the layoffs have been done in a staggered manner over the last few weeks, mostly from EPAM Anywhere and a few from EPAM Systems.

Founded in 1993, EPAM Systems Inc is a company specialising in service development, digital platform engineering, and digital product design. Headquartered in Newtown, Pennsylvania, US, the company has 4,349 professionals in India, the largest after Ukraine, Belarus, and Russia.