ExlService Holdings, a US-based digital services provider, is undergoing restructuring, resulting in the layoff of approximately 800 employees. The decision will impact about two percent of its workforce in both the US and India.
The move comes as the company is adapting its operations to meet the growing demand for generative artificial intelligence among its customer base, as reported by the Wall Street Journal.
Of the 800 affected employees, 400 will be terminated from their positions, while the remaining 400 will be given the opportunity to seek re-employment elsewhere within the company.
Primarily, the junior staff members working in data analytics and digital operations, both in the United States and in India are impacted. ExlService Holdings currently employs roughly 5,000 individuals, globally.
Recently, the company has made leadership changes, with Rohit Kapoor, CEO, being elevated to the position of board chair. Additionally, two senior leaders, Vikas Bhalla and Vivek Jetley, who oversee insurance and analytics, respectively, have been promoted with their roles being expanded. These roles entail a focus on adopting data and AI-driven solutions.
ExlService Holdings (EXL), is a business+process solution company, headquartered in New York City. EXL provides operations management, analytics, and technology platforms to various industries, including insurance, healthcare, banking and financial services, utilities, travel, transportation, and logistics. The company helps its clients improve operational efficiency, enhance customer experience, and drive business growth through its services.