Indian IT major Larsen and Toubro Technology Services (LTTS) has cut jobs.

Sources told TOI that layoffs are largely due to actions initiated as part of the performance cycle and to reduce role overlaps.

LTTSrecently cut its full-year forecast.

LTTS logged a 5.17% rise in its September quarter profit at Rs 315.4 crore.

The company expects its revenue to grow between 17.5% to 18.5% compared to its earlier estimate of 20%.LTTS providesengineering services in the transportation, telecom, hi-tech industrial products, plant engineering, and medical devices sectors.

Jobs likely impactedThe job cuts have likely impacted employees in the mid-to-senior roles.

The company has seen job cuts mainly in delivery and support functions.

Reason as companies have automated many functions.

LTTS as nearly 24,000 employees on its rolls.

The redundancies are said to account for less than 1% of LTTS' workforce.LTTS on job cuts“We conduct annual performance reviews as a standard process to assess the capabilities of our workforce every year, and act appropriately based on skill sets and performance.

This is essential for the maintenance of our high standards of service delivery, continuous upskilling while being nimble as an organization, and ensuring that we remain at the forefront of technological innovation.

Looking ahead, in line with our growth prospects and strategy, we continue to hire and add to the team especially in areas of plant engineering, digital - software engineering, AI and software defined vehicles with over 2,500 engineers,” he said.There may be more job cuts comingSources told TOI that there might be another round of job cuts in January, albeit after assessing the business environment.LTTS' Q2 earningsDuring the Q2 earnings call, LTTS CEO and Managing Director Amit Chadha said that the deal momentum for the second quarter was strong with the highlight being a $10 million-plus deal win leveraging SWC capabilities in North America.

"This win has been the result of having a superior end-to-end technology stack for wireless and 5G communications which is becoming a key differentiator for us," he added.