Infosys co-founder NR Narayana Murthy suggests ways to stop job losses

Amid fears of large-scale job losses and unionisation in India's software services sector, Infosys co-founder NR Narayana Murthy, one of the tallest leaders in the industry, has expressed his views on the contentious issue for the first time.

In an exclusive interview with ET NOW, Murthy said that while there is no reason to be very anxious, it is possible to protect jobs if senior executives of companies take salary cuts and invest in training employees.

He further made a case for a more humane approach to layoffs, stating that a stable corporation is one where everyone is happy. Murthy stressed that he sees no place for unions as long as IT industry leaders embrace compassionate capitalism.


"We have gone through these troughs in business several times, there is no need for us to become extremely anxious. It is possible to protect jobs of youngsters if seniors make minor adjustments, like senior people taking salary cuts based on disposable income. This is what we did after the dot com crisis. Industry leaders need to identify new areas of opportunity, Mount training programs and give them time to train. Give youngsters enough time to pick up new skills and technologies."

When asked if the current crop of industry leaders were doing this, Murthy said that the industry has well-intentioned people and that it's not fair to make employees anxious.

When asked if this was because of a poor business environment or changing technology, he said, "it is a combination of things. But there will be more and more job opportunities as long as we help youngsters re-skill themselves."

On the recent call for unions in the IT sector, Murthy said, " As long as leaders of IT industry embrace compassionate capitalism, I believe there is no place for unions. If leaders do not do this, employees will embrace unions."