Happiest Minds says No Layoffs after ITC Infotech merger, here’s what changes

Happiest Minds management has ruled out layoffs following its proposed merger with ITC Infotech, saying the deal is focused on retaining talent in AI, cybersecurity, data and digital services. Promoter Ashok Soota will sell a 22.1% stake and use part of the proceeds to fund his healthcare ventures.

Happiest Minds Technologies has said its proposed merger with ITC Infotech will not result in job cuts, seeking to address employee concerns after the transaction was announced. The Bengaluru-based IT company said retaining talent is a key part of the deal, particularly employees working across artificial intelligence, cybersecurity, digital and data services.

The combined company is expected to have around 19,000 employees. Happiest Minds CEO Joseph Anantharaju said ITC specifically sought continuity of the existing workforce as part of the transaction. The management’s comments come at a time when........

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