American Express has begun downsizing its Indian work-force as part of its worldwide efforts to cut costs. More than 100 employees were laid off on Monday in the first round, and more pink slips were expected, company sources told Hindustan Times.
A company spokeswoman, who confirmed the lay-offs, gave no details. “It is miniscule compared to the global scenario,” she said, adding, “We (India) are not the main focus of the restructuring.”
Talks were on concerning retrenchment in the business process outsourcing (BPO) division of the travel and credit-card service company, sources said, adding a counseling session was on to help those who might lose their jobs later this week.
The company has engaged a job placement agency in India to facilitate employability of retrenched employees.
An insider said there was a growing sense of uncertainty among the employees especially in the last one week and work had come to a standstill. “Though the list is out, there is still tension and apprehension among employees,” said a company official, who did not want to be identified.
The spokeswoman said the company was going through an overhaul across business units, markets and staff groups, focusing on management and other positions that do not involve direct involvement with customers.