L&T Technology lays off 200 employees

L&T Technology Services (LTTS) has laid off 200 people in delivery and support functions as part of performance assessments and to reduce role overlaps. LTTS, with 24,000 employees, focuses on engineering services in transportation, telecom, hi-tech, industrial products, plant engineering, and medical devices. The Indian IT sector faces challenges in the banking and financial services sector, leading to cost efficiencies. LTTS expects revenue to grow 17.5%-18.5%, lower than the earlier estimate of 20%.