3i Infotech plans 4-day week for US employees

Information technology services firm 3i Infotech plans to offshore some of its work as well as implement a four-day work week for its US employees, in order to cut costs, a top company official has said.

“Apart from debt management, we plan to focus on cost reduction during the current year. We plan to give a four-day work week to at least 400 US employees,” 3i Infotech’s Managing Director and Chief Executive Officer V Srinivasan said here. At present, 3i Infotech employs 13,500 with around 4,500 employees working overseas.

Increasing offshoring, which involves moving work from onsite to India and other low-cost destinations will help the company in reducing its costs further, he added. “Offshoring of work will help in cutting costs,” Srinivasan said.

He, however, did not specify the amount the company expects to save through these initiatives. Asked whether the company planned to up its headcount, Srinivasan replied in the affirmative, saying the company would increase its headcount in the coming days.

“We plan to hire at least 500 professionals for our India and foreign offices,” he said. The company had raised Rs 317 crore through a qualified institutional placement last month.