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EPAM Systems asks 100 Indian employees to resign; revokes offer letters

The number of employees forced to resign across both companies — EPAM Systems and EPAM Anywhere —could be at least 100 across testing, .Net, DevOps and Java domains. The HR managers told the affected staff that they had over-hired, misjudging the demand forecast and are unable to fund any projects for onboarding in the near future.

ET Now Digital

Updated Oct 3, 2022, 11:33 IST

New Delhi: American system software company EPAM Systems has asked around 100 Indian employees to resign and revoked the offer letters of those who were scheduled to join in the next few months. The employees asked to quit are mostly those who were not tagged to any specific project, according to sources.

The number of employees forced to resign across both companies — EPAM Systems and EPAM Anywhere —could be at least 100, sources told Economic Times. The resignations are across testing, .Net, DevOps and Java domains.

The NYSE-listed IT services provider communicated with employees on Microsoft Teams asking them to resign and giving options of either with three months' pay with immediate exit or serving two months' notice where their resignation may be revoked on the condition that they land project during the notice period.

The HR managers, meanwhile, told the staff that they had over-hired, misjudging the demand forecast and they are unable to fund any projects for onboarding in the near future. The layoffs have been done in a staggered manner for the last few weeks with most hailing from EPAM Anywhere.

One of the impacted employees told Economic Times that there could be a fall in demand for resources as the company could have rehired some of its impacted Ukrainian employees who are now working out of nearby countries like Poland and Romania.

EPAM Systems had 4,349 professionals in India, according to the firm’s 2021 annual report. The number is the largest after Ukraine, Belarus and Russia.

This isn’t the first instance of layoffs at IT firms as only last month, news reports indicated that HCL Tech had laid off nearly 350 employees working on a Microsoft project. The employees were sacked globally, including in India, Guatemala and the Philippines.

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