We are returning to our pre-reinvention staffing levels, and achieving our '25 targets is becoming increasingly challenging each day. It's evident that there will be a significant focus on realignment and potential staff reductions in the coming year.
I've heard that some Senior Level Leaders (SLLs) may be offered redundancy packages and access to their reinvention options in 2024.
Any tasks that can be relocated to more cost-effective locations will be relocated, with a notable new facility in Pune that is currently mega underutilized. Several ITK projects are exploring the possibility of shifting their operations there.
In my estimation, the new CEO will spend approximately three months collaborating with McKinsey to formulate a strategic plan. Following that, we can expect an announcement outlining a more focused transition strategy, which will likely involve scaling back in areas where we are not achieving a secure ROI. This will entail reduced capital expenditure and substantial reductions in our workforce.
Cuts will be deep, fast and not pretty.