Software provider Amdocs to lay off 1,000 employees: Report

NEW DELHI: US-based software & communications service provider Amdocs is laying off about 1,000 employees amidst uncertainties surrounding the fiscal recovery owing to the ongoing COVID-19 epidemic, the media recorded on Thu..

As per a record in Israeli-based site Calcalist, Amdocs’s quarterly earnings is about $One billion & a massive part of it – nearly $691 mln – comes from that US that is presently witnessing a COVID-19 resurgence.

“Amdocs is scheduling to cut numerous hundreds of jobs, involving Sr. positions,” the record stated.

Amdocs employs 25,000 citizens world-wide, & over 10,000 employees are in India(In) that is its largest study & development (devt) hub. The firm has development (devt) centers in Pune & Gurugram.

In Mar, the firm declared to train 5,000 employees in Cloud-based technologies over the next couple of yrs. in India(In).

“As a global corporation with tens of large number of employees, Amdocs is continuously creating the required adjustments in its expenses awhile strategically assessing its workforce & adapting to the modifying business needs,” Amdocs stated in an announcement.

“Amdocs is pursuing to recruit employees in a wide range of areas in that its activity is growing & investing in its expansion engines awhile taking care of its person capital,” the firm added further.

In Apr, Amdocs notified its employees that because of the fiscal uncertainty, “the salary rises scheduled for Jul won’t be executed as planned & that all of its employees must take (2) 13 days of made payment vacation between Apr & Jun of this yr.”.

“As a global firm we’re dedicated to acting in a level-headed, accountable, & proactive way,” Amdocs President & CEO, Shuky Sheffer had stated in an announcement.

Previously this week, Amdocs declared that it’s issuing $650 mln in bonds for repayment in 2030.