EXL Service, a New York-based IT company, is restructuring its operations to meet the growing demand for generative artificial intelligence (GenAI). As part of this effort, the company is cutting 800 jobs, or less than 2% of its workforce. The job cuts will mainly affect junior staff in data analytics and digital operations in the US and India. The company employs about 55,000 people globally.
At the same time, EXL Services is hiring skilled workers with expertise in advanced data, AI, and generative AI.
This change reportedly reflects the company’s new direction, which is evidenced by recent leadership changes. EXL CEO, Rohit Kapoor, has been promoted to the role of board chair, while two senior leaders, Vikas Bhalla and Vivek Jetley, are taking on expanded roles that include integrating data and AI-led solutions.According to a company representative, the restructuring involves re-evaluating existing roles and bringing in top talent with expertise in data and AI. The aim is to ensure that the talent and skill sets are closely aligned with the evolving needs of EXL’s clients.
“We need to ensure our talent and skill sets are closely aligned with the evolving needs of our clients,” an EXL representative told the WSJ. “This adjustment involves a mix of re-evaluating existing roles while bringing in top talent with expertise in data and AI.”
EXL provides data analytics and digital solutions services and has hired 22,000 people since the end of 2020. However, costs have gone up alongside headcount, and some deals have dried up. The company has faced a tougher macroeconomic environment, with businesses less willing to invest in nonessential IT projects, people familiar with the matter told the WSJ.
In its most recent quarter, EXL’s analytics arm reported revenue of $182 million, up 6.2% from the year prior, but was “offset” by a decline in marketing analytics, according to Chief Financial Officer Maurizio Nicolelli.
At the same time, EXL Services is hiring skilled workers with expertise in advanced data, AI, and generative AI.
This change reportedly reflects the company’s new direction, which is evidenced by recent leadership changes. EXL CEO, Rohit Kapoor, has been promoted to the role of board chair, while two senior leaders, Vikas Bhalla and Vivek Jetley, are taking on expanded roles that include integrating data and AI-led solutions.According to a company representative, the restructuring involves re-evaluating existing roles and bringing in top talent with expertise in data and AI. The aim is to ensure that the talent and skill sets are closely aligned with the evolving needs of EXL’s clients.
“We need to ensure our talent and skill sets are closely aligned with the evolving needs of our clients,” an EXL representative told the WSJ. “This adjustment involves a mix of re-evaluating existing roles while bringing in top talent with expertise in data and AI.”
EXL provides data analytics and digital solutions services and has hired 22,000 people since the end of 2020. However, costs have gone up alongside headcount, and some deals have dried up. The company has faced a tougher macroeconomic environment, with businesses less willing to invest in nonessential IT projects, people familiar with the matter told the WSJ.
In its most recent quarter, EXL’s analytics arm reported revenue of $182 million, up 6.2% from the year prior, but was “offset” by a decline in marketing analytics, according to Chief Financial Officer Maurizio Nicolelli.