By The Associated Press India’s biggest software firm is leaving the country after more than a decade of growth, raising the prospect of a ripple effect for hundreds of thousands of software developers who work in the country.
The San Jose, California-based company said Monday it is cutting more than 7,500 jobs at its Indian headquarters.
Indian Prime Minister Narendra Modi has vowed to tackle rampant corruption and political corruption in his country, and the government has cracked down on some of the country’s most notorious firms, including Facebook, WhatsApp and Snapdeal.
Modi’s government has also banned online retail businesses, a move that has created a glut of online retail shops and a growing number of sellers.
In addition to layoffs, the company said it will lay off employees from its manufacturing unit, the software group and its global business unit.
The company said the layoffs will begin next month.
While India has had some success in attracting foreign investment, it is still not as successful as it should be at attracting talent and retaining them, said B.V. Madasani, the founder of the consulting firm Insight Ventures.
“This is not the end of the story.
They can continue to find ways to improve and continue to create jobs in India,” he said.
India has been a pioneer in technology outsourcing, and it has been able to retain and attract talented developers and other talent with the help of Indian IT companies.